[Kasept]

Racing and Wagering Board launches inquiry into erroneous result

New York State Racing and Wagering Board Chairman John D. Sabini today
announced the Board has opened an inquiry into a mistake made in the
initial posting of the official Superfecta results of the 9th Race at
Belmont Park on Sept. 25. The New York Racing Association later
announced a second order of finish after realizing that the wrong horse
was listed as finishing in 4th place.

"We will conduct a thorough review of the chain of events that led up
to this," Chairman Sabini said. "If we determine new safeguards are
needed, the Board will move forward in instituting them in an
expeditious manner."

Citing New York State Thoroughbred racing rules, the Board has
determined that pari-mutuel wagers with the initial official result
must be paid by pari-mutuel operators. Even though the initial order of
finish -- 8-14-5-10 - proved to be incorrect, the Board pointed to
Board Rules 4008.1 and 4008.4 in explaining that once a result is posted
as official, it cannot be changed for pari-mutuel purposes. This
finality, under the rules, applies even where the stewards make a
subsequent change in the order of finish after the result is declared
official.

The Board is advising that pari-mutuel operators may, in their
discretion, pay the correct but unofficial result for mutuel purposes
for those wagers on order of finish 8-14-5-13. NYRA announced today that
it would pay out on that order of finish, as well as the now official
order of finish, as posted initially after the 9th Race.

"Preliminary indications suggest that this mistake resulted from human
error," Chairman Sabini said. "The goal of the inquiry is not only to
pinpoint how this happened but to determine what should be done to
prevent it from happening again."