LOUISVILLE, Ky. (Feb. 10, 2009) – The Kentucky Horse Racing Commission (“KHRC”) has granted approval to allow Churchill Downs to offer exacta wagering in its Kentucky Derby Future Wager (“KDFW”) pools. The home of the America’s greatest race will not offer exacta betting in Pool 1 of the 2009 Derby Future bet, which opens its four-day run on Thursday, but Derby Futures Exacta betting will be available in the two remaining pools scheduled to run March 12-15 and April 2-5.

The addition of exacta wagering in the field of 24 wagering interests is the first change in the betting menu in the Kentucky Derby Future Wager since the bet was introduced in 1999. To this point the pools in each Kentucky Derby Future Wager have offered only a $2 minimum win wager. Starting with Pool 2 of 2009, the exacta wager – also a $2 minimum bet – will be part of the wagering menu on the pool’s field of 24 betting interests.

“We are excited to offer a new wrinkle in the Kentucky Derby Future Wager and hope the ‘Futures Exacta’ will be an attractive option for both veteran and novice Derby Futures fans,” said Jim Gates, general manager of Churchill Downs. “There is potential for significant payouts on perfect tickets in the new Derby Futures Exacta and we believe Derby fans will be intrigued by this newest betting option as we look toward the 135th Kentucky Derby on May 2.”

The Kentucky Derby Futures Exacta requires the bettor to select the first two finishers in the exact order in the Kentucky Derby. Those horses must be selected from the 24 wagering interests in each respective pool. Those interests include 23 individual horses and a mutuel field (#24) that consists of all other 3-year-old Thoroughbreds.

Fans may combine betting interests in boxes and other exacta combinations. In the event of a finish in which multiple members of the “all others” betting interest occupy spots at the top of the official order of finish, the calculation of the $2 payout will be conducted in accordance with KHRC rules on coupled entries. For example, if horses in the mutuel field occupy the first five spots in the Derby’s order of finish and #9 finishes sixth, the winning exacta numbers will be 24/9. A finish of 3/24/24/24/7 would result in an exacta payout on a 3/24 ticket.

The mutuel field (#24) can be used in only one position in the exacta. A bettor cannot place a wager on 24/24, or “all”/“all.”

Like the $2 win bet in the Kentucky Derby Future Wager, there will be no refunds on wagers placed in the Futures Exacta. If it is determined during a KDFW pool that an individual wagering interest will not be able to compete in the Kentucky Derby because of injury or another concern, wagering on that horse will be suspended immediately.

More information on the Kentucky Derby Future Wager is available at the official Kentucky Derby event Web site at http://www.kentuckyderby.com.

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 135th running of the Kentucky Derby on May 2, 2009. The track’s 2009 Spring Meet is scheduled for April 25-July 5. Churchill Downs has hosted the Breeders’ Cup World Championships a record six times, and will host the international racing championship again on Nov. 5-6, 2010. Information about Churchill Downs can be found on the Internet at http://www.churchilldowns.com.