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JOCKEY CLUB NOTES

Contact: Bob Curran, Jr. (212-521-5326)

STAHL TO RETIRE AT YEAR'S END; MARZELLI NAMED AS SUCCESSOR

Hans J. Stahl, The Jockey Club President and Chief Operating Officer, will retire at the end of the year and will be succeeded by Alan G. Marzelli, it was announced today by Ogden Mills Phipps, the Chairman of The Jockey Club.

"The Jockey Club and its family of companies have enjoyed unparalleled growth and diversification under Hans Stahl's leadership over the past 20 years and his dedication to Thoroughbred breeding and racing has enhanced our reputation as an industry leader in many crucial areas," Phipps said. "On top of that, he leaves behind a talented and experienced management team that is well-suited to carry out our ongoing initiatives in the months and years ahead. We are deeply grateful for all of that."

Stahl, a native of Bremen, Germany, joined The Jockey Club as director of operations in February 1983, and was named executive director one year later. He had previously served in various financial positions, including more than five years as a management consultant with the international accounting firm now known as PricewaterhouseCoopers.

He was named to the newly created position of President and Chief Operating Officer of The Jockey Club in March 1995.

With Stahl at the helm, The Jockey Club made numerous advances over the past 20 years. Among them: a thorough modernization of Registry functions and procedures and the introduction of an interactive registry; improved parentage verification systems (first blood-typing and more recently DNA); in association with the Thoroughbred Racing Associations (TRA), the creation of an industry-owned database (Equibase Company); the creation of an online breeding and pedigree information service (The Jockey Club Information Systems, Inc.'s equineline.com); and a re-engineering of The Jockey Club's information technology operation that has made it a state-of-the-art communications and data network that serves not only The Jockey Club companies but the industry at large.

Stahl served on numerous industry committees and task forces through the years and was instrumental in the concept and development of the first business plan for the National Thoroughbred Racing Association. More recently, he has served as chairman of a domestic task force for the Racing Medication and Drug Testing Consortium.

He has also been actively involved with several international organizations, including the International Stud Book Committee (ISBC) and the International Federation of Horseracing Authorities (IFHA), of which he serves as vice-chairman.

Stahl will be retained by The Jockey Club for the next two years under a consulting arrangement to work with the new president on international issues and other special projects.

Marzelli, a member of the American Institute of Certified Public Accountants and the New York State Society of Certified Public Accountants, joined The Jockey Club in November 1983 as controller and assistant treasurer after spending eight years with the international accounting firm of Deloitte & Touche. He is the youngest person ever elected an officer of The Jockey Club.

He has served as The Jockey Club's chief financial officer since April 1986. In addition to his duties at The Jockey Club, Marzelli was appointed president of Equibase in April 1996 and chairman approximately 18 months later, overseeing that company's ascent to worldwide prominence as the official supplier of racing information for the North American Thoroughbred industry.

He was also actively involved in the formation of the NTRA, serving as that organization's interim Treasurer during its startup phase.

In addition to his Equibase position, he currently serves as chairman for two of The Jockey Club's subsidiaries: InCompass (formerly known as McKinnie Systems, Inc.) and The Jockey Club Technology Services, Inc.

"Alan Marzelli has been extensively involved with every one of The Jockey Club entities and numerous other industry organizations over the past 20 years and we're confident that his experience, knowledge and business skills will serve us well in the years ahead," said Phipps.

Marzelli will assume his new duties as President and Chief Operating Officer of The Jockey Club on January 1, 2003.

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