NetJets Inc. Announced as First International Marketing Partner for NTRA/Breeders' Cup, Ascot and Longchamp Alliance.

Sports Editors/Horseracing Writers & Columnists

NEW YORK & LEXINGTON, Ky.--(BUSINESS WIRE)--Sept. 9, 2002

World Leader in Fractional Aircraft Ownership Becomes Title and

Divisional Sponsor of NetJets Breeders' Cup Mile

The National Thoroughbred Racing Association (NTRA), Breeders' Cup Limited and NetJets(R) Inc., today announced that an agreement in principle has been reached for NetJets to become a marketing partner of the NTRA/Breeders' Cup, the Breeders' Cup World Thoroughbred Championships and the new international marketing alliance among the Breeders' Cup, Ascot Racecourse in England and Longchamp Racecourse in France.

Under the agreement, NetJets will become title sponsor of the $1 million NetJets Breeders' Cup Mile, the mile turf race contested each fall as part of the $13 million Breeders' Cup World Thoroughbred Championships, which is telecast on NBC in the United States and by various networks in more than 150 countries internationally. This year, the Breeders' Cup will be held on Oct. 26 at Arlington Park near Chicago. In addition, NetJets will become title sponsor of the NetJets Mile Division, including media and marketing rights in connection with top-ranked televised Thoroughbred races in the U.S. and Europe that lead each year to the World Thoroughbred Championships.

The agreement is a multi-year commitment comparable to NTRA's "Marketing Partner" relationships with John Deere for the John Deere Breeders' Cup Turf and John Deere Turf Division and with Bessemer Trust for the Bessemer Trust Breeders' Cup Juvenile and Bessemer Trust Juvenile Division. Other NTRA/Breeders' Cup sponsors include Long John Silver's (Yum! Brands, Inc.), NAPA, Alberto-Culver, Toshiba and SEGA.

"As the worldwide leader in fractional aircraft ownership, we are delighted to be associated with the NTRA and the Thoroughbred industry on an international basis through Ascot and Longchamp," said NetJets Chairman and CEO Richard Santulli. "Our NetJets fractional aircraft ownership program provides the best in private aviation transportation and many of our clients are racing enthusiasts. NetJets' appeal is in providing a cost-effective solution to private aviation and is an ideal match for racing enthusiasts both in Europe and the U.S."

"We are thrilled to add NetJets to our growing list of marketing partners," said NTRA Commissioner Tim Smith. "Their status as a best-in-class provider of safe, efficient and high-quality private aviation services is a perfect fit with the best televised horseracing in the world."

The NetJets agreement is the first marketing partnership to result from the marketing alliance between the NTRA, Breeders' Cup, Ascot and Longchamp racecourses that was announced in June. NetJets today also will be announced as the presenting sponsor of the Queen Elizabeth II Stakes, England's top mile race to be run Saturday, Sept. 28 at Ascot. That race will now be called the Queen Elizabeth II Stakes, sponsored by NetJets. As announced in Paris on Sept. 2, NetJets will be the title sponsor of the NetJets Prix du Moulin de Longchamp, France's premier mile race, which was run Sept. 8.

NetJets will have customer hosting rights and other on-site and media benefits in England at Ascot's Royal Meeting in June, at the King George VI & Queen Elizabeth Diamond Stakes in July and at the Queen Elizabeth II Stakes, sponsored by NetJets; in France at Longchamp for the NetJets Prix du Moulin de Longchamp and the Prix de l'Arc de Triomphe-Lucien Barriere; and in the U.S. at the Breeders' Cup World Thoroughbred Championships, among other venues.

"We welcome NetJets as an important new corporate sponsor of top-class racing in Europe," said Douglas Erskine-Crum, chief executive of Ascot Racecourse. "NetJets, being the premier provider of private aviation solutions in Europe, is a very logical first partner for the new alliance of NTRA/Breeders' Cup, Ascot and Longchamp."

"France Galop is delighted by this first concrete result of the new alliance with NTRA/Breeders' Cup and Ascot, which will associate NetJets with the three prestigious mile races in Europe and the United States," said Louis Romanet, director general of France Galop, which operates Longchamp Racecourse, located outside Paris. "Through this partnership, NetJets will be able to promote its business in England and France in total synergy with the American market."

The NTRA is a broad-based coalition of horseracing interests, including the American Quarter Horse Association, charged with increasing popularity of horseracing and improving economic conditions for industry participants. The NTRA and Breeders' Cup Limited also conduct the Breeders' Cup World Thoroughbred Championships, Thoroughbred racing's year-end Championships consisting of eight races and $13 million in purses and awards, the Breeders' Cup Stakes Program and the Great State Challenge. The NTRA has offices in Lexington, Ky., and New York City. NTRA press releases appear on the NTRA Web site, www.ntra.com.

Ascot Racecourse was founded in 1711 by Queen Anne and stages 25 race days each year, including the Royal Meeting and the King George VI & Queen Elizabeth Diamond Stakes. Major races are screened in more than 60 countries, and Ascot welcomed well over 500,000 racegoers through its gates in 2001. Prize money at Ascot increased by 41 percent to just under 7.5m pounds between 1997 and 2001 and provides just under 10 percent of the industry total offered at Britain's 59 tracks. The racecourse will soon embark on a full-scale redevelopment for which architects HOK Sport, responsible for numerous stadia in the U.S. as well as Stadium Australia, home of the 2000 Olympics, have been commissioned to lead. Strong overall performance across the board, including through sponsorship, hospitality and media rights income, saw profitability increase by 87 percent between 1997 and 2001. This has enabled Ascot to build reserves to contribute toward funding the redevelopment, which will ensure the royal racecourse retains its position at the forefront of the world's leading sporting venues. The racecourse is run on behalf of the crown through the board of Ascot Authority (Holdings) Limited, with Her Majesty's Representative and Racecourse Chairman Lord Hartington at the helm. The executive management team based at the racecourse is headed by Chief Executive Douglas Erskine-Crum, who also sits on the board with non-executive and selected executive directors.

Inaugurated in 1857 by Napoleon III and Empress Eugenie, Longchamp is located in an outstanding setting in the Bois de Boulogne, close to the center of Paris and the Eiffel Tower. The racecourse covers 57 hectares, of which 17 are racing tracks. Dedicated to flat racing, Longchamp comprises four tracks, including one long, one medium, one small and one 1,000-meter straight; distances are from 1,000 to 4,000 meters with 46 different starting posts. Longchamp stages about 30 race days each year, including 48 Group races, of which 17 are Group 1s (e.g., the Gainsborough Poules d'Essai, Juddmonte Grand Prix de Paris, Prix Vermeille-Barriere, NetJets Prix du Moulin de Longchamp) and distributes more than 16.5 million Euros in prize money and owners' premiums. On the first Sunday of October, Longchamp stages the Prix de l'Arc de Triomphe-Lucien Barriere, which is the highlight of the finest and richest racecard in Europe, including six Group 1 races and total prize money of 2.9 million Euros.

NetJets(R) Inc., a private aviation company owned by Berkshire Hathaway, Inc., allows individuals and companies to buy a piece of a private business jet at a fraction of the cost of whole aircraft ownership and then guarantees availability 365 days a year with just a few hours notice. NetJets offers 11 different aircraft choices in its fleet, with six additional aircraft types coming in the next three years. This year NetJets will fly more than 250,000 flights to over 145 different countries. NetJets owners can interchange and use any of the NetJets programs in the United States, Europe and the Middle East.

In 1986, when Richard Santulli created the fractional aircraft ownership concept he called NetJets, he revolutionized access to the advantages of business aircraft. He made business aircraft benefits affordable and allowed companies and individuals to broaden their reach and better manage their time.

NetJets owners can call for their aircraft and have it available at nearly 5,000 general aviation airports in the United States and Europe in as little as four to six hours. The NetJets program allows companies and individuals to buy as little as a one-sixteenth share in a jet, which gives them 50 occupied hours a year in the air. They have all the benefits of private business aircraft at a fraction of the cost of whole aircraft ownership.

Some of the most successful private and public companies in the world such as General Electric, Gillette and Sun Microsystems are NetJets owners. The NetJets client list is a who's who in business, entertainment, sports and private individuals. NetJets fractional aircraft owners include Andre Agassi, Pete Sampras, Arnold Schwarzenegger and Tiger Woods, among others.

One satisfied NetJets owner is renowned investor Warren Buffett. He and his family utilize NetJets to meet their demanding business and personal needs. In fact, so impressed was Mr. Buffett by NetJets service that he acquired the whole company in 1998. As a wholly owned subsidiary of Berkshire Hathaway Inc., NetJets is the most financially sound aviation company in the world.

More information about NetJets is available through the NetJets Web site, www.netjets.com.