Visa USA today announced a change in its marketing strategy for thoroughbred racing, indicating it would focus on a new partnership with the sport's most venerable race, the Grade I Kentucky Derby. As a result, Visa will not renew its 10-year sponsorship of the Visa Triple Crown series.

Effective in 2006, the new, five-year partnership with Churchill Downs Incorporated, parent company of the historic racetrack that hosts the Derby, will make Visa the only card that enables cardholders to purchase tickets to the prestigious sporting event, held every year on the first Saturday in May. The partnership allows Visa to further integrate its popular Visa Signature card into its sponsorship platform and creates exclusive access opportunities for Visa Signature cardholders.

"We've had an unbelievably successful partnership with the Visa Triple Crown, but we must always work to keep our approach fresh and relevant to our cardholders. This move gives us the ability to strategically position our Visa Signature product alongside the signature event in thoroughbred racing," said Michael Lynch, senior vice president, Visa USA.

"By creating unique new programs like this, we increase the value of Visa Signature cards to cardholders and increase cardholders' loyalty to the Member financial institutions that issue them."

As a proud sponsor of the Kentucky Derby, Visa will offer Member financial institutions substantial pass-through rights to enhance their card marketing efforts, and will also provide Members with a unique offering to grow their business in the affluent consumer segment. The partnership will provide Visa Signature cardholders access to a luxurious Finish Line Suite and hard-to-obtain box seats to the Kentucky Derby. Specifically, Visa will create a limited number of Finish Line Suite trip packages exclusively for Signature cardholders, offering tickets, stable area tours, and access to coveted invitation-only events during horse racing's biggest weekend.

"Visa USA has been an important partner for U.S. horse racing, and we are very pleased that Visa has chosen to remain a prominent sponsor for our sport's signature event, the Kentucky Derby," said Thomas H. Meeker, president and chief executive officer of Churchill Downs Incorporated. "The Visa name is synonymous with first-class customer service, which makes it the perfect complement to our Churchill Downs and Kentucky Derby brands. We look forward to this new affiliation with Visa - and to celebrating with our Visa partners as we crown a new Derby champion on May 7, 2005."

"We're looking forward to remaining part of the thoroughbred racing family," Lynch said. "And all of us at Visa are really hoping that this is the year we finally award our $5 million Visa Triple Crown Challenge Bonus."

Since Visa became involved in thoroughbred racing in 1995, six horses have entered the final leg of the three-race series with a chance to win the $5 million bonus. In these years, Visa helped foster public interest in some of racing's most memorable heroes, including: Smarty Jones (2004), Funny Cide (2003), War Emblem (2002), Charismatic (1999), Real Quiet (1998), and Silver Charm (1997). Due in part to Visa's national television advertising, card promotions, and bonus, the sport has seen significant gains in attendance, television ratings and media interest. Smarty Jones' unsuccessful bid to win the Visa Triple Crown in 2004 helped NBC post the highest average rating (8.3/20) for the series since 1989. Visa's sponsorship of the Triple Crown race series, including the Kentucky Derby, Preakness Stakes and Belmont Stakes, extends through 2005.

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