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Churchill Downs Renames Off-Track Betting Facilities

The name change will affect the Company's simulcast facility in Louisville, Ky., as well as its three Indiana OTBs located in Indianapolis, Fort Wayne and Merrillville. All four facilities previously conducted business under the name ``Sports Spectrum.''

The Company's Illinois OTBs located in downtown Chicago, Rockford, Waukegan, and East Moline will also be renamed ``Trackside,'' the identity currently used by the Company's OTB adjacent to Arlington Park in Arlington Heights, Ill. The common name, Trackside, was derived from the Arlington Heights facility.

``As our Company has grown through mergers and acquisitions, CDI has become one of the largest operators of OTBs in the country,'' said Meeker. ``Our recent merger with Arlington Park added five facilities in the important Chicago market to our fold. Just as we have worked aggressively to brand our live racing product under the banner of Churchill Downs Simulcast Network (CDSN), we realize the importance of creating a common identity and shared brand for our off-track distribution network.

``We selected 'Trackside' as a common name for all of our OTBs because it best reflects the atmosphere we strive to create for our off-track patrons: an environment that mirrors the live racing experience while offering the ambiance and amenities of a sports bar. We believe 'Trackside' best communicates this unique quality while clearly identifying our facilities as off-track betting operations,'' Meeker added.

``Linking all of our OTBs through a common name is the next step in a Company-wide branding program that was initiated in February 2000 when we introduced a common mark -- a stylized version of the famous Twin Spires -- for all CDI racetracks and OTBs,'' said Andy Skehan, senior vice president, sales and marketing.

``A common name for our OTBs will create efficiencies and improve effectiveness through the consolidation of communication and marketing activities. It will enable the Company to develop a collective image and generate greater awareness for its OTBs while differentiating CDI facilities in markets where we compete with other off-track betting operations.''

The name change will be phased in over the next 12 months and will initially include changes in external signage and supporting print communications and marketing materials. Beginning today, the Company's Illinois OTBs will be rebranded with the ``Trackside'' identity. Conversion of the Indiana OTBs will take place later in the summer, while conversion of the Louisville, Ky., facility is scheduled for late in the year.

The conversion will also involve internal capital improvements that will be implemented over the next few months at all nine facilities. By early summer, each Trackside OTB will have an active Twin Spires Club, the Company's player-rewards program; standardized merchandise featuring the logos of CDI and its racetracks; and CDSN handicapping materials. Educational seminars and visits from handicapping experts and industry personalities will continue to be offered.

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