MEDIA RELEASE

19TH DECEMBER 2000

"COUP FOR THOROUGHBRED CONSULTANTS"

The Melbourne based consulting firm, Thoroughbred Racing Bureau Pty. Ltd., has been selected to design a multi million dollar world class racing and training facility in the Philippines.

The project, commissioned by a private consortium, is expected to include two racing surfaces (grass and dirt/synthetic), stabling for 1500 horses, club house with accommodation, grandstand and other facilities commensurate with an international racing venue.

Rodney Rae, Managing Director of the Thoroughbred Racing Bureau Pty Ltd, stated that "the project is a great opportunity for our company and the Philippines racing industry, and is another example of the continued growth of the Asian racing circuit."

"Initiatives such as this will assist in the internationalisation of racing in the Philippines, further strengthen an expanding Asian racing scene and provide potential opportunities for a myriad of international racing participants."

"With the development of this world class racing infrastructure supported by a population in the vicinity of 80 million people, the future of racing in the Philippines looks very exciting."