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Carnegie Cooke Expands Brazilian Market

Carnegie's Brazilian subsidiary, Carnegie Cooke do Brasil Ltda, signed the contract with the club, the country's third largest. Under its terms, Carnegie will manage the Race Book it establishes at the club, and retain 50% of its profits. A race book is a wagering facility in which patrons can view simulcasts of local and international thoroughbred races and wager on them. The agreement also gives Carnegie Cooke the opportunity to open off-track-betting parlors throughout the State of Parana. The OTB's, like the Race Book, will present real-time telecasts of Brazilian and foreign horse races.

Aside from racing, the Jockey Club of Parana is also widely known for its nightclub, which draws multitudes of people seeking the entertainment and social life it offers.

Parana at Center of South Cone Market

The State of Parana, in southern Brazil, has attracted substantial business and industrial investment, because it is the geographic hub of the gigantic South Cone Market, or Mercosul, which encompasses major Latin American economic centers. The economic-development area was formed by Brazil, Argentina, Paraguay and Uruguay under the Asuncion Treaty, which their governments signed in 1991.

Curitiba, a Model City

Curitiba, the 309-year-old capital of the state, is home to the Jockey Club of Parana. It is the only Brazilian city to enter the twenty-first century as a national and international reference of urban planning and quality of life. A study sponsored by the United Nations in 2001 gave Curitiba top ranking among Brazilian state capitals in the Index of Quality of Life.

In 2000 and 2001, Curitiba, the administrative and financial center of Parana, topped other Brazilian cities in the number of new enterprises established, according to a study by Simonsen & Associados, published in Examo Magazine. Last August, Moody's gave Curitiba a credit rating of Aa1, its second highest in the general classification, attesting to the urban center's economic strength.

There are two primary reasons why Curitiba has been attracting substantial investments from such leading international groups as Daimler Chrysler, Audi/Volkswagen, General Motors and Renault. The first is that Metropolitan Curitiba is within 930 miles of the capitals of the member countries of the South Cone Market and major Brazilian cities. And, the second is that Curitiba has an excellent infrastructure in terms of transportation, electric power, telecommunications, water supply, sanitation and urban structuring.

About Carnegie Cooke & Company, Inc.

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 other highly-trafficked sites throughout Brazil.

Carnegie owns the Jockey Club El Dorado in Porto Alegre, Rio Grande, and has mechanized its track's wagering system as well as those of eight others in Brazil. 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.

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