Arlington Park Names New President

30 March 2006

ARLINGTON HEIGHTS, Illinois – (PRESS RELEASE) -- Arlington Park has named Roy A. Arnold president of the historic Chicago-area racetrack and its network of Trackside off-track betting ("OTB") facilities. The announcement was made today by Arlington Park Chairman Richard L. Duchossois and Andrew G. Skehan, executive vice president and chief operating officer of Churchill Downs Incorporated ("CDI"), Arlington Park's parent company. Arnold will assume his new responsibilities on April 11, 2006.

Arnold joins the Arlington Park team following an extensive and highly successful military career in the United States Marine Corps, where he most recently served as the assistant wing commander for the 3rd Marine Aircraft Wing, I Marine Expeditionary Force. During his 30-year tenure, Arnold held leadership positions at home and abroad at every level of the Marine Corps and held command positions in such important military campaigns as Operations Desert Shield, Desert Storm, and Operation Iraqi Freedom II.

"Roy Arnold is a strong leader who throughout his highly decorated military career demonstrated his ability to identify goals, define and execute strategies to achieve those goals, and deliver exceptional results," said Duchossois. "Those are the very same skills required of racetrack executives as they navigate today's increasingly competitive business landscape. Roy has already invested considerable time and energy learning about the horse racing industry and understands the opportunities we have and the challenges we face. We are excited to have a leader of Roy's caliber join our team and look forward to working with him as we prepare for another fantastic season of live racing at Chicago's premier racetrack."

"Beyond his career accomplishments, Roy Arnold has a proven record of developing young talent," said Skehan. "His ability to mentor team members and elicit exceptional performances from his support staff will be a valuable asset for Arlington Park and will enhance our Company's ongoing focus on management development."

"It is a tremendous honor to be chosen to lead one of America's truly great racetracks, and I am eager to begin this new assignment," said Arnold. "The hallmarks of good leadership in the private sector are the same as in the military, and I will utilize the leadership skills and strategic planning expertise I gained over three decades in the Marine Corps as I transition to my career in horse racing. I am fortunate to be joining a seasoned and experienced team of professionals at Arlington Park whose commitment to competitive racing and first-class customer service is beyond compare. The Arlington team clearly understands how to run a premier racetrack; I look forward to further developing this talented staff to ensure the Arlington experience is always exceptional."

Originally commissioned as an infantry officer when he joined the Corps in 1976, Arnold transitioned to aviation in 1983 and was designated as a naval aviator in 1984, quickly assuming flight leadership positions within his new discipline. He saw combat duty while serving as the operations officer of an attack helicopter squadron during Operations Desert Shield and Desert Storm and also commanded an attack helicopter squadron that introduced an updated version of the Cobra Attack Helicopter.

After squadron command, Arnold served as the executive officer for a Marine Corps expeditionary unit conducting crisis management operations in the Middle East. Soon afterward, Arnold was promoted to the rank of colonel and invited to attend the prestigious National War College with a follow-on assignment to Europe as the operations officer for Striking Forces South, a major NATO military command. Arnold was then selected for one of the Corps' most prestigious assignments and given command of a Marine Expeditionary Unit operating in the Pacific Theater.

In his final assignment as the assistant wing commander for the 3rd Marine Aircraft Wing, I Marine Expeditionary Force, Arnold commanded six aircraft groups and approximately 17,000 troops while overseeing a $740 million dollar operations budget. During this assignment, Arnold helped coordinate ongoing U.S. operations in Iraq, including a key military engagement in the city of Fallujah where residents were facing constant violence and unrest at the hands of insurgents.

Arnold, 50, is a native of Ithaca, N.Y., and holds a Bachelor of Science degree from State University of New York at Brockport, a Master of Arts degree in international relations from the University of San Diego, and a Master of Science degree in national security affairs from the National War College.

Arnold's military decorations include the Defense Superior Service Medal, Legion of Merit, Navy and Marine Corps Medal, Air Medal with 2nd Strike Numeral, Meritorious Service Medal and Navy and Marine Corps Commendation Medal as well as other service and campaign awards.