Churchill Downs Names VP

12 December 2005

LOUISVILLE, Kentucky -- (PRESS RELEASE) -- Churchill Downs Incorporated (NASDAQ: CHDN) has named T. Kevin Flanery vice president of national public affairs for the Company. Flanery, who will report directly to CDI Executive Vice President, Chief Development Officer and General Counsel William C. Carstanjen, assumes his new responsibilities Dec. 15. He will oversee public affairs and legislative activities for CDI and its affiliated racetracks at the state and national level. Flanery joins CDI after serving as president of Hagan Properties Inc. since August 2004.

Flanery brings a vast array of public affairs and government relations experience to his new post, having served as secretary of the Finance and Administration Cabinet of the Commonwealth of Kentucky from January 2001 to December 2002 and as deputy secretary of the Cabinet between June and December of 2000. In that role Flanery served as the Commonwealth's chief financial and procurement officer and led the Office of Finance Management, which controls the Commonwealth's debt and investment portfolio. Flanery also had oversight of the Department of Facilities Management, which designs, builds, operates and maintains state facilities. As secretary of the Cabinet, Flanery managed a staff of 800 employees and an operating budget of more than $400 million annually while serving on more than 30 independent boards and commissions. Part of his statutory responsibilities included serving as chairman of the Consensus Forecasting Group, which determines revenues available for appropriation by the governor and legislature of Kentucky.

Flanery's experience in state government extends to Kentucky's Transportation Cabinet where between October 1996 and May 2000 he served as deputy secretary and legislative liaison. In that post, Flanery managed all administrative functions for the Transportation Cabinet and served as its primary legislative strategist. An attorney, Flanery also served as the Transportation Cabinet's executive director for the Office of General Counsel between February and September of 1996 where he served as chief administrative and legal officer, guiding a team of more than 20 attorneys in tax, workers' compensation and contract matters.

"Kevin's extensive background in state government gives him considerable insight into the legislative process and a solid understanding of how to partner with state leaders towards common goals," said Carstanjen. "Kevin's practical experience working with lawmakers and members of the executive branch will be a tremendous asset to our company, as we pursue legislative solutions to the challenges we face in states where growing gaming options are putting the horse racing industry at a competitive disadvantage."

"Churchill Downs Incorporated has long been an outstanding corporate citizen," said Flanery, "and I am excited to bring my public affairs expertise to CDI at a time when legislative support of the horse industry, Kentucky's largest agribusiness, is essential to the industry's long-term vitality. I look forward to working with industry leaders and government officials on creative solutions to today's challenges. The horse industry supplies needed jobs and revenues to state government, and we need to work together to maintain its status as a vital economic driver."

In addition to his numerous roles in state government, Flanery gained valuable private-sector experience when he held the position of executive director for the Regional Leadership Coalition ("RLC") from January 2003 to August 2004. The RLC is a coalition of civic and business leaders interested in regional cooperation and action. As executive director, Flanery was responsible for the organization's Steering and Operating Committees and helping members develop action plans while working to market and promote the RLC and its mission.

Flanery most recently held the position of president and chief operating officer for Hagan Properties Inc., where he oversaw both property management and development aspects of the Louisville-based business, managed the company's relationship with banking and investment partners, and served as Hagan's primary contact for state legislative and administrative matters.

Flanery, 40, holds a bachelor of arts degree in psychology from Bellarmine College and a juris doctor from the University of Kentucky College of Law. He is a native of Louisville, Ky.