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Carnegie Cooke Newly Mechanized Jockey Clubs Revenue Increases by 88%.

This mechanization was completed as follows: (1)JC's in Santa Maria and Cachoeira for fully mechanized beginning in June 2001, (2)JC in Sobral was fully mechanized beginning July 2001, and (3)JC's in Ceara and Pernambuco were fully mechanized beginning August 2001.

Jay Goldberg CEO said: ``For all of our revenue projections we kept the operations of the Jockey Clubs once mechanized flat allowing no percentage increase in our calculations. Now we can see the dramatic effect that just the mechanization process will have on the fiscal 2000 revenue of $48,000,000 reported by the Jockey Clubs in our alliance. We must also remember that these results are for local racing events only, and that international simulcast racing will triple the number of daily events available.

``Further, the completion of the Data Command Center by IBM enables us to not only provide international simulcast to these clubs, but to also interconnect these clubs with each other. Hence, the local racing venue will also increase.

``Of equal importance is the fact that the Data Control completion enables us to hook up our wholly owned agencies. The system has the capacity to handle 1,000 agencies of which 200 are currently under construction. Having completed this infrastructure simplifies all of our expansion projects because now as each unit is completed or as each of the remaining Jockey Clubs are fully mechanized, the facility can immediately go on line with the data house in Porto Alegre.''

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 cumbersome, manual system of betting throughout Brazil.

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