Carnegie Cooke Exercises Its Right to Bring International Simulcast Horse Racing Signal to Two Additional OTB Agencies in Brazil

CAMPOS, Brazil, February 1, 2007 (BUSINESS WIRE)

CAMPOS, Brazil--(BUSINESS WIRE)--Carnegie Cooke & Company, Inc. (Pink Sheets:CGKY - News), announced today it has exercised its right to expand international horse racing simulcast into established venues in Macare and Campos II OTBs, and has begun shipping necessary equipment for installation into these facilities. Under agreements with the owners of these premises, Carnegie Cooke will receive revenues from wagering on the international signals and share in revenues from the domestic signal. This first phase of expansion will bring CGKY's international operations to four locations in Brazil by spring of 2007.

In addition, CGKY has begun negotiations with several upscale restaurants in the City of Campos for the establishment of "mini" agencies; CGKY will install and operate the simulcast operations at these establishments. CGKY plans then to expand to established locations in restaurants and bars throughout the state of Rio. Mark Goldberg, President of Carnegie Cooke, has identified a number of suitable locations and has held initial, promising, discussions with the owners of these establishments. These locations will operate similarly to those currently established in Campos and the soon to be opened OTB in Niteroi; all wagers on international signal will be placed through the CBT IWT terminals and entered into the U.S. "host" track's pools via the AmTote International hub in Hunt Valley, Maryland.

Mr. Goldberg stated, "This enhancement of the business plan should greatly expand our sales and profitability through the international simulcast signal in Brazil. Carnegie Cooke can open seven locations for the approximate cost of one traditional agency. Estimated cost per location is around US$7,000 and estimated time to install and open each new location will be approximately one month; CGKY intends to inventory equipment in Brazil to facilitate its expansion. Ideal locations will have a seating capacity for at least 75 patrons. Part of the attraction for the owners of the establishments is that their patrons will stay longer at their locations and increase the location's food and beverage sales. Our plans are to begin our new roll out during the 2nd quarter 2007. CGKY has been analyzing all aspects of its business model to expedite and enhance profitability for 2007 and beyond."

About Carnegie Cooke & Company, Inc.

Carnegie Cooke is a media and distribution company in the Brazilian turf industry. The Brazilian Department of Agriculture reports that in 2005 turf/gaming industry revenues were in excess of US$400 million, in local racing events, using un-mechanized facilities. Carnegie Cooke's Brazilian subsidiary has been granted the right by the Brazilian Association of Jockey Clubs and the endorsement of the Brazilian Government to mechanize Jockey Club facilities, and to implement international simulcast racing throughout Brazil. For more information, please visit Carnegie Cooke's website www.carnegiecooke.com

Safe Harbor Statement:

Except for historical information, the matters set forth herein, which are forward-looking statements, involve certain risks and uncertainties that could cause actual results to differ. Potential risks and uncertainties include, but are not limited to, perceived or actual benefits from Carnegie Cooke's planned operations, the market acceptance and level of sales derived from its operations, the competitive environment within the Brazilian turf industry, and the successful technical and economic implementation of its operations.

Contact:
Carnegie-Cooke & Company, Inc.
Mark Goldberg
President/CEO
718-326-2525
Mark@carnegiecooke.com
www.carnegiecooke.com
or
Simon Chazin Duarte
Legal Counsel Brazil
Avenida Franklin Roosevelt No. 194
2nd Floor, Suite 208
Centro, Rio de Janiero
Brazil
Phone: 011.5521.2262.9907

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