Carnegie Cooke Retains JJ Graci as Director of International Equine Operations.

NITEROI, Brazil -- Carnegie Cooke & Company, Inc. (Pink Sheets: CGKY), announced today that JJ Graci has been hired as Director of International Equine Operations. Mr. Graci, based in Florida, has devoted himself for nearly fifty years to horse racing as a trainer. Also, He was the first North American television trainer/analyst when hired by Philadelphia Park in 1985. Mr. Graci is the host of a horse racing talk show on Sirius Satellite Radio which has approximately 10 million subscribers. The show is aired live Monday through Friday on channel 126 from 4 - 7 PM and repeated from 1 - 4 and 4 - 7 AM Eastern Time, and worldwide on the Internet at www.attheracesandbeyond.com.

"I look forward to working with Carnegie Cooke to increase the expansion of US racing to Brazil and Brazilian racing to the US. One of my major priorities is to strengthen the relationship between Carnegie Cooke and the horse racing industry. Carnegie Cooke has a great vision with the expansion of international racing and simulcasting and as a horseman I see great opportunities for the industry. Utilizing my years of experience and contacts I intend to expand Carnegie Cooke's operations not only by bringing more track signals to Brazil but by enhancing the activities they already possess and even creating some new ones. I believe that Carnegie Cooke will become a strong economic force not only in Brazil but in the US" Graci stated. "I'm proud to be to put into a position that will bring positive results for the industry, not just domestically, but globally".

Mark Goldberg, President of Carnegie Cooke, stated, "We are pleased and honored that J.J. Graci has joined our team. Now that we are ramping up off-track betting outlets in the State of Rio as well as transmitting North American horse racing at these agencies, Mr. Graci can expand the number of leading American and international tracks we represent in Brazil and will also provide guidance and direction to our activities as we dramatically expand our operations. Mr. Graci's hands-on approach will bring him to Brazil to oversee all of our present operations as well as to develop new strategic ideas to be implemented in the near future."

About Carnegie Cooke & Company, Inc.

Carnegie Cooke is a media and distribution company in the Brazilian turf industry. The Brazilian Department of Agriculture reports that in 2005 turf/gaming industry revenues were in excess of US$400 million, in local racing events, using un-mechanized facilities. Carnegie Cooke's Brazilian subsidiary has been granted the right by the Brazilian Association of Jockey Clubs and the endorsement of the Brazilian Government to mechanize Jockey Club facilities, and to implement international simulcast racing throughout Brazil. For more information, please visit Carnegie Cooke's website www.carnegiecooke.com.

Safe Harbor Statement:

Except for historical information, the matters set forth herein, which are forward-looking statements, involve certain risks and uncertainties that could cause actual results to differ. Potential risks and uncertainties include, but are not limited to, perceived or actual benefits from Carnegie Cooke's planned operations, the market acceptance and level of sales derived from its operations, the competitive environment within the Brazilian turf industry, and the successful technical and economic implementation of its operations.