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Carnegie Cooke Completes Mechanization Of First Jockey Club in Brazil

The OTB style agency is located at Avenida Brasil 1509 in Porto Alegre, Rio Grande Do Sul, Brasil. The agency was completed in December of 2000 and has produced average weekly gross revenue of approximately $30,000. On April 27, 2001 the mechanization of the Jockey Club Cachoeira Do Sul was completed. Gross Revenue per week has increased from approximately $60,000 to $87,000 since the installation.

Carnegie Cooke & Company, Inc. is the exclusive service provider of simulcast transmission of international racing events throughout Brazil and other South American countries, and is the exclusive distributor and manufacturer of Masterplay Virtual Reality Racing Machines in Brazil, Mexico, and North America.

In addition, Carnegie Cooke has a contract with the Brazilian Association of Jockey Clubs to mechanize the cumbersome, manual system of betting throughout Brazil. The Brazilian Government's approval of this contract and naming of Carnegie Cooke as an accredited collector of betting revenue in Brazil was announced on March 16, 2001.

Jay Goldberg, chief executive officer, said: ``We have met our goal of beginning the mechanization process of the Jockey Clubs by April 15th. Cachoeira Do Sul is the first completed installation. The rest are in process, and we should have 9 more -- Recife, Fortaleza, Sobral, Brasilia, Goiania, Uvaranas, Pelotas, Santa Maria, and Belo Horizonte completed by June 15, 2001. I am gratified that the mechanization of the club has already increased the gross weekly revenue, and we must remember that this revenue is the result of local racing only. We are currently finishing the installation of the computer network needed to facilitate the international simulcast transmission from our new building at Travessa Truda #40 in Porto Alegre and should have the international signal into these Jockey Clubs by June 15th as well.

``Our agency located in Porto Alegre is the first of the 400 we are authorized to open throughout Brazil. I am pleased by the results thus far since the average revenue of $30,000 per week more than meets the expectations we have planned this whole system on. And this $30,000 was the result of international simulcast only. This agency will begin receiving local broadcasts next week. By June 15th we should have 6 additional agencies opened in S. Maria, Rio de Janeiro, Sao Paulo, Pelotas, Curitiba, and Recife -- all receiving both the international and domestic races. We know now that our $30,000 per week per agency goal is reachable and are very excited about the forthcoming agencies in such densely populated areas as Rio and Sao Paulo.''

For further information contact Jay Goldberg at 800-262-2331 (USA) or Valdo Marques Da Silva at 011-5551-212-5350 (Brasil).

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