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Brazil Track Opens Bidding for Management Contract

7 April 2004

SAO PAULO, Brazil – (Press Release) -- On January 13, 2004, the Board of Directors of Jockey Club de Sao Paulo opened competitive bidding for the purpose of engaging a company or consortium of companies to provide administrative, financial and operational services related to horse-race betting on premises belonging to Jockey Club de Sao Paulo and its agencies and agents, as well as audiovisual transmission of racing events.

According to the Director of Operations and Marketing for Jockey Club de Sao Paulo, Bernardo Teixeira Vianna, the opening of competitive bidding follows a market trend that has as its two main objectives the promotion of horse racing and the creation of new jobs.

Information on how to obtain the full announcement, which contains the conditions and supplementary guidelines for bidding as well as a draft of the contract to be signed by the parties, can be requested by calling +011-55-11-2161-8340.

Schedule of the bidding process:

Cut-off date for questions and consultations with the Jockey Club: April 22, 2004, at 4:00 p.m.

Deadline for submission of proposal (containing the Statement of Qualifications, the Technical Proposal, and the Business Proposal): May 3, 2004, at 4:00 p.m.

Qualifications (Envelope 1):

Opening of Envelope: May 3, 2004, at 4:00 p.m. Announcement of qualified competitors: May 10, 2004, at 4:00 p.m.

Technical Proposal (Opening of Envelope 2): May 12, 2004, at 4:00 p.m.

Business Proposal (Opening of Envelope 3): May 19, 2004, at 4:00 p.m.

Announcement of the Winning Bid: May 26, 2004, at 4:00 p.m.

Contract Signing: June 2, 2004, at 4:00 p.m.

About Jockey Club de Sao Paulo

Jockey Club de Sao Paulo is a nonprofit private association that has operated horse racing venues for 129 years in the city of Sao Paulo. Throughout its history, the Club has worked not only to promote the sport of horse racing and to advance the breeding of English thoroughbred horses but also to sponsor social events promoting closer ties among its associates and to generate new jobs.

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