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Carnegie Cooke Adds Six New Jockey Clubs to Brazilian Alliance30 May 2002LOS ANGELES, California – (Press Release) -- Carnegie Cooke & Company, Inc. ("Carnegie Cooke") (OTC: CGKY) today announced that six additional Jockey Clubs have joined the Alliance between the Association of Brazilian Jockey Clubs and Carnegie Cooke. In addition, Carnegie Cooke is sponsoring two major racing events in June, 2002. Jay Goldberg, CEO said, "It is important to remember that our charter with the Brazilian government requires that we promote the turf industry in Brazil and mechanize and improve the Jockey Club tracks for those clubs that have joined the alliance. This week, we added Jockey Clubs in Jaguarao, San Gabriel, Alegrete, Carazinho, San Cepe, and Julho de Castillos to our core group of 22 clubs in the alliance thus bringing our total to 28. These clubs will participate in international simulcast racing, provide additional locations for our Virtual Reality Gaming Machines, and we will share in the revenue of these clubs on the same terms that we do throughout the rest of the alliance. These clubs are aware of the great fiscal improvements that the mechanization and the international simulcast racing make for total revenue, and we expect more to join as we continue to grow. "One of the most important ways that we support the turf industry is by sponsoring prizes at various racing events. On June 1st & 2nd, we will sponsor a $10,000 Grand prize in Recife, Brazil at the Jockey Club Pernambuco where the expected attendance is 20,000. Then on June 8th & 9th, we sponsor another $10,000 prize at the Jockey Club Cachoeira Do Sul, where 15,000 people are expected to attend. "In addition to fulfilling our promotional obligations, we benefit financially from these events because we share in the revenue generated by the event and we set up extra Virtual Reality Gaming Machines to accommodate the crowds." Carnegie Cooke & Company, Inc. is the exclusive service provider of simulcast transmission of international racing events throughout Brazil and other South American countries. In addition, Carnegie Cooke has a contract with the Brazilian Association of Jockey Clubs to mechanize the manual system of betting throughout Brazil. The Brazilian Government has approved this contract and named Carnegie Cooke as an accredited collector of betting revenue in Brazil. |