Churchill Downs Names New COO

13 August 2004

LOUISVILLE, Kentucky – (PRESS RELEASE) -- Churchill Downs Incorporated (Nasdaq: CHDN) has named Andrew G. Skehan as chief operating officer. Skehan (pronounced SKAYN'), who previously served as the Company's chief marketing officer, will assume his new position immediately and continue to report directly to Thomas H. Meeker, CDI's president and chief executive officer.

In his new role, Skehan will oversee all operations for CDI's live racing and off-track betting ("OTB") facilities, the Churchill Downs Simulcast Network ("CDSN"), and the corporate sales, marketing and community relations departments. Additionally, Skehan will continue to manage CDI's Customer Relationship Management ("CRM") initiative and related business-change- management processes.

Skehan brings to the position a vast array of business operations, product-development and marketing experience, having previously served in top operational posts with such marquee corporations as Nabisco, PepsiCo. and KFC. During his five-year tenure with CDI, Skehan managed the operational build out, sales strategy and product launch of the Company's branded simulcast product, CDSN, and expanded the Company's player-rewards program, the Twin Spires Club, to include five CDI racetracks and 12 OTBs, which now provide service to more than 200,000 Club members. Skehan also successfully implemented a Company-wide branding initiative, integrated marketing efforts across all CDI operations, and spearheaded CDI's ongoing CRM initiative, which will revolutionize the way all CDI employees interact with and provide service to their customers.

"We are delighted to announce Andy Skehan's promotion to chief operating officer, as he is without a doubt the best candidate to fill this key position within our Company," said Meeker. "Andy brings to his new role the essential experience, professional skills and management expertise we need to continue to improve our operations system-wide and successfully develop and implement strategic initiatives, such as CRM, that will transform the way we do business, distinguish CDI from its competitors, and position our Company and its employees for long-term growth.

"Through his role as CDI's top sales and marketing officer, Andy has also developed an extensive understanding of our live racing operations, core products and customer base," Meeker added. "He is well positioned to successfully guide our operations through the new challenges we will face in the ever-evolving sports, gaming and entertainment market."

"It is with great anticipation that I accept this new role -- and this incredible opportunity to help grow Churchill Downs Incorporated and its operations nationwide," said Skehan. "As horse racing's industry leader, CDI is committed to offering high-quality live racing products and a first-class customer experience. I look forward to working with CDI's innovative management team and our thousands of talented and dedicated associates to meet tomorrow's challenges and build on our long tradition of success."

Prior to joining CDI, Skehan served with Nabisco Corporation as vice president/regional director of marketing and new markets in Europe, the Middle East and Africa. After assuming those duties in January 1998, Skehan executed major advertising campaigns in Greece and the United Kingdom that introduced OREO, Nabisco's premier global product, and resulted in double-digit sales increases and improved brand awareness. He also managed business development activities that included acquisitions, partnerships, licensing and the development of Nabisco' strategic growth plan for the region.

From 1990 to 1998, Skehan held various positions with PepsiCo Inc., spending the latter half of his tenure with that company as a general manager for PepsiCo Restaurants International (PRI). During that time, he was directly responsible for the establishment and operation of a PepsiCo joint venture created to develop Pizza Hut and KFC restaurants in the Czech and Slovak republics. Those restaurants quickly exceeded projected sales and were among PRI's most successful European operations. Skehan also negotiated and executed the sale of that joint venture.

Skehan spent 1992 and 1993 in Louisville, Ky., as director of operations for KFC International, where he was responsible for the planning, production and implementation of the company's operating systems and procedures for an international network of more than 4,000 restaurants in approximately 60 countries. In that position, Skehan directed the introduction of new products and concepts in KFC restaurants around the world and provided operations expertise for KFC's start-up and expansion in Shanghai.

Prior to joining PepsiCo, Skehan served as an officer in the U.S. Navy. He received his bachelor of science degree from the U.S. Naval Academy and his master's degree in business administration from the University of Rhode Island.

A nationwide search is underway to identify a new senior sales and marketing executive to succeed Skehan.