Churchill Downs conducts 2008 Annual Meeting

LOUISVILLE, Kentucky -- (PRESS RELEASE) -- Churchill Downs Incorporated ("Company") (NASDAQ: CHDN - News) conducted its annual meeting of shareholders today at Churchill Downs racetrack. During the meeting, Company shareholders conducted an election of directors and approved proposals related to management performance goals and incentives, as well as ratification of the appointment of PricewaterhouseCoopers as the Company's independent registered public accounting firm for the fiscal year of 2008.

The four Class III directors elected for three-year terms are as follows:

Robert L. Fealy, executive vice president and director, Duchossois Industries Inc.;

Daniel P. Harrington, president and chief executive officer, HTV Industries Inc.;

Carl F. Pollard, owner, Hermitage Farm; and

Darrell R. Wells, general partner, Security Management Company.

Following the annual meeting, the Company's board of directors conducted its quarterly meeting.