2003 interim results presentation

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2003 interim results presentation
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Introductions

• Roger Withers
• Ian Penrose
• Bob Mercer
• Nick Davis

• Chairman
• Group Managing Director
• Chief Financial Officer
• Director of Communications

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Roger Withers - Chairman
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Chairmans summary

• Period of continued delivery
• Record profits for racecourse division
• Solid performance by technology division
• Continuing progress at attheraces

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Bob Mercer Chief Financial Officer
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Financial highlights
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Financial highlights

• Overall Group operating profit increased by 209
  to 3.2m
• Share of loss from attheraces reduced by 100,000
  to 5,600,000
• Pre-tax loss on ordinary activities improved by
  55 to 2,000,000

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Group EBITDA up 114
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Cash position
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Ian Penrose Group Managing Director
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Racecourse division
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Racecourses

• Record performance
• profit
• prize money
• attendances
• Successful second all-weather Championships
• Continued improvement of racecourse facilities
• Gala Group deal to develop Racino at
  Wolverhampton
• Record 305 fixtures (22 increase) secured in 2004

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The No. 1 racecourse operator in terms of
fixtures in 2004
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Technology division
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Technology division

• Operational highlights
• Continued support of attheraces
• Integration of live racing from South Africa and
  France
• Launch of fixed-odds betting on Sky

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attheraces
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attheraces TV

• 8.9m homes now receive attheraces via Sky, ntl
  and Telewest
• Strong viewing figures
• Racing from South Africa and France launched in
  May
• attheraces exports racing to 33 countries
  imports from 6
• Fixed odds launched last week on Sky

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attheraces

• Performance to 30 June 2003
• Registrations now exceed 100,000
• 19,504 active customers (6,553 same period last
  year)
• ten-fold increase in betting turnover to
  13,000,000
• 9.4m income from Rights Management
• Average pari-mutuel bet size 9.08 during the
  period
• Average fixed odds bet size 17.47 during the
  period

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Office of Fair Trading inquiries

• First inquiry
• British Horseracing Board/Jockey Club
• Regarding Orders and Rules of Racing. In
  particular
• allocation of fixtures
• ownership of data
• Second inquiry
• 49 Racecourses/Racecourse Association/attheraces
• Regarding collective selling of media rights

Timeline
Response expected by OFT to attheraces inquiry
attheraces media rights deal concluded
2000
2001
2002
2003
2004
2005
Response expected by OFT to BHB/Jockey Club
inquiry
BHB/Jockey Clubs Orders and Rules -triggers OFT
Inquiry
OFT issues the 2 Rule 14 Notices
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Roger Withers - Chairman
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Outlook

• Arena remains well positioned
• Strong underlying performance
• Enhanced racecourse facilities growing
  attendances
• OFTs final Rulings expected by Q1, 2004
• Arena will be the number one racecourse operator
  in 2004

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Questions
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