Carnegie Cooke Receives Explicit Authorization to Expand Operations Outside the Brazilian State of Rio

Las Vegas , Nevada May 10, 2007 (BUSINESS WIRE)

LAS VEGAS--(BUSINESS WIRE)--Carnegie Cooke & Company, Inc. (PINK SHEETS: CGKY - News) recently received explicit authorization from its partner in Brazil, The Jockey Club of Campos to operate OTB's and install international wagering terminals throughout any state or city in Brazil.

Previously Carnegie Cooke through its Brazilian subsidiary was restricted to operate OTB's within the confines of the State of Rio and additionally excluded from the City of Rio. This new accord removes those constraints, provided another Jockey Club is not operating in the same locality.

This agreement is significant as it permits Carnegie Cooke to begin executing on its strategy of expansion outside the State of Rio in 2007.

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.

In order to receive future shareholder communications via email please send an email to investorrelations@carnegiecooke.com.

Contact: Carnegie Cooke & Company, Inc.

John D. Samuel, COO

718-326-2525

investorrelations@carnegiecooke.com

www.carnegiecooke.com 

Source: Carnegie Cooke & Company, Inc. 

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