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Carnegie Cooke & Company Contracts Sky Capital

"Our overriding objective will be to make the extraordinarily exciting Carnegie Cooke story known to as many investment community people as possible, from securities analysts and major producers to portfolio managers and significant investors," said Ray Dirks, Sky Capital's Director of Institutional Sales. "We will do that through distribution of corporate reports, which will be updated with each accomplishment, and by arranging for meetings at which CGKY's story will be graphically told."

Sky Capital also will closely assist Carnegie's management in financial and investor relations, and provide help in the preparation of corporate documentation and literature. The firm also will advise on a range of internal issues, from financial structure and corporate organization to financing through banks and other institutions.

"We are pleased to have on call the investment and financial-planning expertise of the knowledgeable people at Sky Capital," said Jay Goldberg, Carnegie's Chief Executive Officer. "Their support and guidance will be most helpful as we bring our company to full fruition."

Carnegie Cooke, which has its headquarters in Las Vegas, became a public company in 2000. Its business plan, now being implemented, is to generate profitable revenues by: (1) mechanizing wagering at Brazilian racetracks, (2) operating off-track betting parlors (OTB's), (3) providing international simulcast racing at tracks and OTB's, and (4) placing "virtual-reality" gaming machines in these locations and in malls, gaming arcades, bars and other busy sites throughout Brazil. The machines show simulated races on which patrons could wager.

Carnegie owns a racetrack, and has mechanized wagering systems at eight others. It has an exclusive agreement with Caliente, a Mexican corporation, for simulcast transmission of international races throughout Brazil, making it the only company capable of providing such a service in that country. It also has contracted with Comsat, the Lockheed Martin subsidiary, for provision of satellite service. Carnegie is in the process of placing its "virtual-reality" machines in key locations.

Sky Capital, a retail and institutional brokerage firm, is a member of the National Association of Securities Dealers. It is a subsidiary of Sky Capital Holdings Ltd. of New York and London, which was established by a core group of investment professionals as a full-service merchant bank.

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