President Named for Fair Grounds Race Course

LOUISVILLE, Kentucky – (PRESS RELEASE) -- Churchill Downs Incorporated (Nasdaq: CHDN) today named Randall Soth president and general manager of Fair Grounds Race Course ("Fair Grounds") in New Orleans, La. The announcement was made by CDI's Executive Vice President and Chief Operating Officer Andrew G. Skehan, to whom Soth will report.

Soth will assume his new position as soon as CDI completes the purchase of Fair Grounds, which is scheduled to occur on or before Oct. 15, 2004. The U.S. Bankruptcy Court, Eastern District of Louisiana authorized the sale of Fair Grounds to CDI on Sept. 24 when it approved the bankruptcy reorganization plan submitted by CDI; Fair Grounds Corp., principal owner of the racetrack; and the Louisiana Horsemen's Benevolent and Protective Association.

Soth previously served as vice president and general manager of Calder Race Course, CDI's live racing operation in Miami, where his responsibilities varied from supervising various departments, to directing simulcast efforts, to ensuring safe working conditions throughout the facility and the stable area. Before joining the Calder management team in 1996, Soth spent 20 years in a variety of racetrack management positions. He served as general manager of Retama Park in San Antonio, Texas; as vice president of racing at Sam Houston Park, also in Texas; and as racing secretary for the following New Jersey racetracks: Monmouth Park, Atlantic City Racetrack, Garden State Park and The Meadowlands.

In his new role, Soth will lead Fair Grounds and its management team through the transition into the CDI family of companies.

"Fair Grounds is an important part of our Company's future and our continued commitment to live horse racing, so finding the right person to lead the track and its associates through the transition process and beyond is of utmost importance to us," said Skehan. "Randy's professional experience has exposed him to every aspect of racetrack and simulcast operations, which makes him the ideal candidate for this central role. Throughout his career at Calder, Randy has demonstrated his ability to be a thoughtful, well-rounded and decisive leader, and his vast experience and hands-on management style will position Fair Grounds and its team of employees for future success."

"It is a tremendous honor to be chosen to lead one of the nation's oldest and most storied racetracks," said Soth. "Horse racing has long been an important part of Louisiana's rich cultural heritage, and I welcome the opportunity to help pilot this grand institution through present challenges and towards future success. I look forward to working with the track's team of employees, Louisiana horsemen and the New Orleans community as we build on Fair Grounds' traditions and truly bring this remarkable racing venue back to national prominence."

A replacement for Soth has not been named; however, Calder President Ken Dunn said a national search is underway.

"Randy has been a fundamental part of Calder's management team, as well as a trusted friend and counselor," said Dunn. "We will certainly miss him, but this is a fantastic opportunity for Randy and for our future teammates at Fair

Grounds. We wish him continued success as he takes on a new role within our Company."

A native of Harrisburg, Penn., Soth holds a bachelor's degree in chemistry from Dickinson College in Carlisle, Penn.