Churchill Downs Incorporated Secures $1 Million In On-Track Insurance Coverage For Jockeys At Fair Grounds Race Course

Churchill Downs Incorporated ("CDI" or "Company") (NASDAQ: CHDN) has signed an agreement with AIG Insurance to provide $1 million in on-track insurance coverage for jockeys who compete at Fair Grounds Race Course ("Fair Grounds"), the Company's racetrack in New Orleans, La. CDI's Executive Vice President and Chief Operating Officer Andrew G. Skehan made the announcement.

The increased major medical coverage, with $1 million in lifetime benefits for jockeys who ride at Fair Grounds, takes effect immediately and replaces the $100,000 in coverage Fair Grounds previously provided jockeys through an agreement with the Thoroughbred Racing Associations ("TRA"), a professional organization representing more than 40 North American racetracks. CDI will cover the majority of the cost for the new insurance premium and is in discussions with horse owners and jockeys about ways to pay for the remaining cost of the increased coverage.

"Churchill Downs Incorporated is pleased to offer $1 million in coverage to jockeys at Fair Grounds as part of an industry-wide effort to provide jockeys with adequate on-track medical insurance," said Skehan. "We will move quickly to secure similar coverage for jockeys competing at CDI tracks in Kentucky, Florida, Illinois and Indiana prior to the start of our 2005 Thoroughbred racing seasons in those jurisdictions. While racetracks do not employ jockeys, they are important contributors to our live racing product, and CDI is committed to looking out for the best interests of the human athletes who choose to compete at our tracks."

Churchill Downs Incorporated, headquartered in Louisville, Ky., owns and operates world-renowned horse racing venues throughout the United States. The Company's 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.