Churchill Downs Unveils Derby 133 Logo, Officially Licensed Merchandise.

LOUISVILLE, Ky. -- The futuristic profile of a racehorse in full flight, pushing forward against the wind as it races past a stylized version of the legendary Churchill Downs Twin Spires, comprises the official event logo for next year's 133rd renewal of the Kentucky Derby. The logo was introduced on Wednesday during a press conference at Churchill Downs.

The Kentucky Derby 133 logo, featuring sharp edges and broad strokes as if to visualize a blur of speed, also prominently displays the number 133 and the event date, May 5, 2007. The logo, which will serve as the official emblem for the 133rd renewal of the world-famous "Run for the Roses," was created for the fifth consecutive year by the Churchill Downs Incorporated Graphics Services team.

"We try to change the look of the logo annually to give each running of the race its own distinct flavor," said Larry Borton, director of graphics services. "The Derby 133 logo incorporates a racehorse and the Twin Spires to represent the tradition that is Churchill Downs and the Kentucky Derby, but mixes those elements with a futuristic design to give an overall younger feel. The logo also incorporates movement, which sets it apart from the logos of recent years."

The logo will be featured on all Kentucky Derby 133 officially licensed merchandise, including apparel, gift items and tickets.

"The unveiling of the Kentucky Derby logo is always an exciting moment, and we are proud to present this striking design as the official symbol to represent the 2007 Derby," said Steve Sexton, president of Churchill Downs. "We are also looking forward to the second year of our partnership with Licensing Partners International and their continued guidance and expertise as we market the officially licensed line of Kentucky Derby 133 merchandise."

The introduction of the Derby 133 logo coincides with the availability of officially licensed Kentucky Derby merchandise online at www.thederbystore.com. The full line of Derby 133 apparel will be available for immediate purchase online, and is expected to be available in local retail outlets such as the Kentucky Derby Museum and the gift shops of Louisville International Airport in approximately one month.

Churchill Downs has partnered with Licensing Partners International LLC ("LPI") in the development, marketing and sales of its officially licensed product lines for the Kentucky Derby and the Kentucky Oaks. LPI also manages licensing programs for most NCAA colleges and universities, the PGA Tour, and the Indy Racing League. Churchill Downs partnered with LPI in the summer of 2004.

Churchill Downs hosted its first-ever "Kentucky Derby Fashion Show" during the logo unveiling, featuring a variety of Company employees strutting their stuff on the catwalk to model selected items in the catalogue of officially licensed merchandise for Kentucky Derby 133. Famous faces on the runway included John Asher, vice president of racing communications; Butch Lehr, vice president and track superintendent; David Sweazy, vice president of operations; and Buck Wheat, director of horsemen's relations.

Churchill Downs, the world's most legendary racetrack, has conducted Thoroughbred racing and presented America's greatest race, the Kentucky Derby, continuously since 1875. Located in Louisville, the flagship racetrack of Churchill Downs Incorporated (NASDAQ Global Select Market: CHDN) also operates Trackside at Churchill Downs, which offers year-round simulcast wagering at the historic track. Churchill Downs will conduct the 133rd running of the Kentucky Derby on May 5, 2007. The track's 2006 Fall Meet is set for Oct. 29-Nov. 25. Churchill Downs has served as host to the Breeders' Cup World Thoroughbred Championships a record five times and will host the event again on Nov. 4, 2006. Information about Churchill Downs can be found on the Internet at www.churchilldowns.com.