Churchill Downs Incorporated Chief Financial Officer to Present at `Invest Kentucky'...

Sports Editors/Business Editors

INVESTKentucky 2004

LOUISVILLE, Ky.--(BUSINESS WIRE)--May 27, 2004

Michael E. Miller, chief financial officer for Churchill Downs Incorporated (NASDAQ: CHDN) ("CDI" or "Company"), will present the Company's growth

Investors and other interested parties may listen to Miller's presentation by accessing the online, real-time webcast at www.churchilldownsincorporated.com/investor_relations or www.investky.com. A replay of the webcast will be made available at www.churchilldownsincorporated.com approximately one hour after the presentation. Interested parties may also access notes from the CFO's presentation at www.churchilldownsincorporated.com/investor_relations, beginning at approximately 1:30 p.m. ET on Thursday, June 3.

INVESTKentucky, presented by Hilliard Lyons, is a one-day event offering analysts, institutional investors and other qualified financial professionals the opportunity to hear senior management at Kentucky's most dynamic publicly traded companies talk about their results and plans for the future.

Churchill Downs Incorporated, headquartered in Louisville, Ky., owns and operates world-renowned horse racing venues throughout the United States. The Company's racetracks in California, Florida, Illinois, Indiana and Kentucky host 114 graded-stakes events and many of North America's most prestigious races, including the Kentucky Derby and Kentucky Oaks, Hollywood Gold Cup and Arlington Million. CDI racetracks have hosted nine Breeders' Cup World Thoroughbred Championships - more than any other North American racing company. CDI also owns off-track betting facilities and a television production company, and has interests in telecommunications and racing services companies that support CDI's network of simulcasting and racing operations. CDI trades on the Nasdaq National Market under the symbol CHDN and can be found on the Internet at www.churchilldownsincorporated.com.