Wagering on Derby, Oaks, and Woodford Reserve allowed on TwinSpires.com and Xpressbet.com

Click Here To Wager On The Kentucky Derby And Kentucky Oaks At www.twinspires.com

LOUISVILLE, Ky. (May 1, 2008) – Officials with Churchill Downs Racetrack announced today that TwinSpires.com, the official advanced-deposit wagering (“ADW”) site for Churchill Downs Incorporated (the “Company”), and Xpressbet.com would be accepting wagers on the Kentucky Derby Presented by Yum! Brands, the Kentucky Oaks and The Woodford Reserve. All Churchill Downs Racetrack races will continue to be available through other off-track betting and simulcast wagering facilities, except for the off-track betting (“OTB”) facilities located in Clarksville and Evansville, Ind., and Calder Race Course. Kentucky Horsemen’s Benevolent and Protective Association (“KYHBPA”) and the Kentucky Thoroughbred Association (“KTA”) have blocked distribution of the remaining Churchill Downs signal to ADW providers, including TwinSpires.com and Xpressbet.com. “We are disappointed that the Kentucky horsemen have chosen to prevent horse racing fans from wagering on Churchill Downs Racetrack races during the most important weekend for the horse racing industry,” said Churchill Downs President Steve Sexton. “Wagering on the Kentucky Oaks and Kentucky Derby race day cards helps to supplement purses throughout the year at Churchill Downs Racetrack. The action of the horsemen’s representatives today will have a negative impact on purses for the entire year.” “We are perplexed that the horsemen would seek to penalize the ADW distribution channel. Since the Company’s entry into the ADW business, we have successfully negotiated higher host fees paid by ADW businesses to our racetracks and horsemen partners. Both groups have benefited, ” said Sexton. “Fortunately, wagering on the Kentucky Derby, Kentucky Oaks and Woodford Reserve will be allowed under prior agreements.” KYHBPA representatives have rejected all offers from Churchill Downs and instructed that any further discussions be conducted with the Thoroughbred Horsemen's Group (“THG”), an alliance of horsemen’s groups from around the country. The THG is led by Bob Reeves who also serves on the board of the Ohio Horsemen’s Benevolent and Protective Association. “Kentucky takes great pride in billing itself as the horse capital of the world,” said Sexton. “On Tuesday, we were encouraged by the discussions with KYHBPA representatives. On Wednesday, our offer was rejected, but neither the KYHBPA nor the KTA could tell us what was needed to resolve this issue. Today, the Kentucky horsemen have told us that if we want to send our ADW signal to the rest of the country, then we have to negotiate with and get permission from horsemen representing them in Ohio.” The 134th Kentucky Derby and Kentucky Oaks anchor this weekend’s race card at Churchill Downs. Pre-race festivities, including a celebrity filled red carpet, will be aired nationally on NBC beginning at 4 p.m. on May 3, 2008, followed by an hour and a half of racing coverage beginning at 5 p.m. “At a time when Churchill Downs is working diligently to bring new customers to the sport, the actions of the horsemen will serve to block these potential fans from participating and alienate loyal patrons who look forward to this weekend all year,” said Sexton. Churchill Downs, the world’s most legendary racetrack, has conducted Thoroughbred racing and presented America’s greatest race, the Kentucky Derby, continuously since 1875. Located in Louisville, the flagship racetrack of Churchill Downs Incorporated (NASDAQ Global Select Market: CHDN) also operates Trackside at Churchill Downs, which offers year-round simulcast wagering at the historic track. Churchill Downs will conduct the 134th running of the Kentucky Derby on May 3, 2008. The track’s 2008 Spring Meet runs from April 26 through July 6. Churchill Downs has hosted the Breeders’ Cup World Championships a record six times. Information about Churchill Downs can be found on the Internet at www.churchilldowns.com.