Churchill Downs Selects Licensing Partners International

22 Aug 2005

LOUISVILLE, Kentucky -- (PRESS RELEASE) -- Churchill Downs Incorporated ("CDI" or "Company") (Nasdaq: CHDN) has partnered with Licensing Partners International LLC ("LPI") to manage the Company's branded-product licensing program, including official Kentucky Derby and Kentucky Oaks licensed products. The agreement with LPI, which covers a period of five years, takes effect immediately.

CDI selected LPI for its expertise in the areas of brand enhancement and protection, product diversification and distribution, catalogue development and event merchandising. LPI is affiliated with The Collegiate Licensing Company, which oversees licensing programs for most NCAA colleges and universities. Current LPI clients include such high-profile sports organizations as the PGA TOUR ("TOUR"), the World Golf Hall of Fame, the Indy Racing League ("IRL"), and the Canadian Football League ("CFL").

In addition to bringing CDI added experience in the areas of product licensing, marketing and sales, LPI will assist CDI in developing new, diversified product lines for the Company's well-regarded Kentucky Derby, Kentucky Oaks, Churchill Downs and Twin Spires branded merchandise. LPI also will use its internal and external resources, including a network of more than 2,200 established licensees, to grow geographic distribution channels for CDI product lines.

"Churchill Downs-affiliated brands are some of the most respected in the world of sports, and our new partnership with LPI will help us leverage the strength and equity of those brands as we work to grow our product licensing business," said Tyrone Tubbs, CDI's vice president of sales. "LPI offers essential in-house expertise in areas where we want to grow our business, such as product diversification and distribution, and has a reputation for excellent customer service. We look forward to working with LPI as we take our product licensing program to the next level and offer customers worldwide the high-quality products one would associate with the biggest name in horse racing."

"Churchill Downs Incorporated is a tremendous addition to the LPI/CLC family," said Pat Battle, chief executive officer of LPI and CLC. "CDI is the quintessential leader in horse racing, and we are thrilled at the opportunity to help them develop the CDI brand in a fashion that is consistent with their reputation for excellence in the industry."

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	Churchill Downs Selects Licensing Partners International 22 Aug 2005 LOUISVILLE, Kentucky -- (PRESS RELEASE) -- Churchill Downs Incorporated ("CDI" or "Company") (Nasdaq: CHDN) has partnered with Licensing Partners International LLC ("LPI") to manage the Company's branded-product licensing program, including official Kentucky Derby and Kentucky Oaks licensed products. The agreement with LPI, which covers a period of five years, takes effect immediately. CDI selected LPI for its expertise in the areas of brand enhancement and protection, product diversification and distribution, catalogue development and event merchandising. LPI is affiliated with The Collegiate Licensing Company, which oversees licensing programs for most NCAA colleges and universities. Current LPI clients include such high-profile sports organizations as the PGA TOUR ("TOUR"), the World Golf Hall of Fame, the Indy Racing League ("IRL"), and the Canadian Football League ("CFL"). In addition to bringing CDI added experience in the areas of product licensing, marketing and sales, LPI will assist CDI in developing new, diversified product lines for the Company's well-regarded Kentucky Derby, Kentucky Oaks, Churchill Downs and Twin Spires branded merchandise. LPI also will use its internal and external resources, including a network of more than 2,200 established licensees, to grow geographic distribution channels for CDI product lines. "Churchill Downs-affiliated brands are some of the most respected in the world of sports, and our new partnership with LPI will help us leverage the strength and equity of those brands as we work to grow our product licensing business," said Tyrone Tubbs, CDI's vice president of sales. "LPI offers essential in-house expertise in areas where we want to grow our business, such as product diversification and distribution, and has a reputation for excellent customer service. We look forward to working with LPI as we take our product licensing program to the next level and offer customers worldwide the high-quality products one would associate with the biggest name in horse racing." "Churchill Downs Incorporated is a tremendous addition to the LPI/CLC family," said Pat Battle, chief executive officer of LPI and CLC. "CDI is the quintessential leader in horse racing, and we are thrilled at the opportunity to help them develop the CDI brand in a fashion that is consistent with their reputation for excellence in the industry."