Churchill Downs Incorporated CEO Opens The NASDAQ Stock Market

Thomas H. Meeker, president and chief executive officer of Churchill Downs Incorporated (NASDAQ: CHDN) ("CDI" or "Company"), today ceremoniously opened The NASDAQ Stock Market in New York City. The event celebrated the Company's 12th anniversary of trading on the stock market and provided a kickoff for the Kentucky Derby week festivities that will culminate on Saturday, May 7, with the 131st running of the "Greatest Two Minutes in Sports."

Joining Meeker at the NASDAQ's Times Square MarketSite were several of the Company's partners and associates within the racing industry and financial community. The event was broadcast live on various media outlets, including major financial networks. It marked the third time CDI has opened the NASDAQ market.

"The NASDAQ market open provides an exciting opportunity to spread the fervor surrounding the Kentucky Derby to New York City, the financial and media capital of the nation and an incredible horse racing market," said Meeker. "It shines a national spotlight on our Company and our signature event, and sets the tone for one of sports' richest traditions that will unfold eight days from now before millions of fans worldwide.

"Our presence on the NASDAQ and our growth as a Company is a testament to the equity we have built around the Kentucky Derby and continue to build around the Twin Spires brand. That equity has grown steadily since CDI joined the NASDAQ in 1993, and grew again over the past year with the acquisition of Fair Grounds Race Course and the completion of our $121 million modernization of our flagship facility, Churchill Downs. We look forward to continuing our growth in partnership with the NASDAQ market, the racing industry, the financial community and our many shareholders."

Since 1993, CDI has grown from one racetrack and approximately 75 racing dates per year to encompass seven racetracks in six states that in 2005 will host 688 days of racing. During the same period, the Company's market cap has more than tripled.

Bruce Aust, executive vice president of NASDAQ, commented, "Churchill Downs Incorporated is an innovative and category-defining company, which has experienced growth and applied technology to continue to lead the horse racing industry. We are thrilled to have Churchill Downs open the market today to mark yet another corporate milestone as they celebrate their 12th anniversary on the NASDAQ market."

Churchill Downs Incorporated, headquartered in Louisville, Ky., owns and operates world-renowned horse racing venues throughout the United States. The Company's seven racetracks in California, Florida, Illinois, Indiana, Kentucky and Louisiana host 121 graded-stakes events and many of North America's most prestigious races, including the Kentucky Derby and Kentucky Oaks, Hollywood Gold Cup and Arlington Million. CDI racetracks have hosted nine Breeders' Cup World Thoroughbred Championships - more than any other North American racing company. CDI also owns off-track betting facilities and has interests in various television production, telecommunications and racing services companies that support CDI's network of simulcasting and racing operations. CDI trades on the NASDAQ National Market under the symbol CHDN and can be found on the Internet at www.churchilldownsincorporated.com.