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Woodford Reserve raises the bar! The stakes are even higher at the 2007 Kentucky Derby – not on the track but rather at the bar. Churchill Downs, and Woodford Reserve bourbon will once again sell the world’s most expensive mint julep cup, available only on May 5, Kentucky Derby Day. The sale of the cups began Tuesday, April 17, at noon ET at www.woodfordreservemintjulep.com. A new twist on the $1,000 Mint Julep program, Christie’s, the world’s leading art business, will partner with Woodford Reserve to conduct an on-line auction for the exclusive cups and with more cups, precious jewels and the opportunity to bid on-line for select cups, the $1,000 Mint Julep is bigger and better than ever before. All proceeds from the cups will benefit the Thoroughbred Charities of America, to assist retired horses and disabled jockeys.

“We increased the number of cups for sale from 50 to 132 and added an on-line auction element to raise even more money for charity,” said Wayne Rose, brand director for Woodford Reserve. “Although this year’s program is larger in scope and size, it was very important to us to maintain the exclusiveness of the $1,000 Mint Julep and its world-class ingredients.”

Not your standard julep, owners of the Woodford Reserve $1,000 Mint Julep cup will have the opportunity to fill the cup with lush mint from the coast of Ireland, organic sugar from Queensland, Australia, ice from the Bavarian Alps and a special selection of Woodford Reserve available nowhere else but Churchill Downs, Kentucky Derby Day.

New England Sterling, the official trophy maker of the Kentucky Derby, created 132 gold-plated cups for sale, and an exclusive sterling silver sipping straw. Select cups including the Triple Crown winners and the first and last Derby winners will be encrusted with rubies and diamonds and auctioned on-line at www.woodfordreservemintjulep.com.

“Christie’s is delighted to participate in this worthy auction that will benefit the sporting community and to take part in the festivities during the most exciting week in the American racing calendar,” said Cathy Elkies, Christie’s Director of Special Sales. “With our commitment to the finest online business practices, we look forward to working with Woodford Reserve and Churchill Downs on this exciting auction.”

The highly successful $1,000 Mint Julep Cup program raised $50,000 for retired thoroughbreds last year, and this year the number of julep cups for sale will more than double to 132. Each gold cup will be designated with the name of a former Kentucky Derby winner - from Aristides to Barbaro. The 133rd Kentucky Derby cup will be engraved and shipped to the owner of the winning horse after the race takes place.

How to Purchase a Cup:
Starting April 17, 2007 at noon (EDT) consumers, 21 years and older, can log on to www.woodfordreservemintjulep.com to purchase or bid on one of three cup designs. Presented on one day, at one place only, all cups purchased must be picked up by the buyer or the buyer’s proxy on May 5, 2007, Kentucky Derby Day at historic Churchill Downs.

Gold Cup:
Woodford Reserve’s stunning 24-kt gold-plated cups adorned with a horse head burgee are carefully engraved with the names of past Kentucky Derby winners and presented with a sterling silver sipping straw. There will be 119 gold cups on sale at www.woodfordreservemintjulep.com for $1,000 on a “first come, first buy” basis.

Triple Crown Cups:
Three rare rubies set in an exclusive 24-kt gold-plated cup with a sterling silver sipping straw represent each leg of the Triple Crown these distinguished thoroughbreds have won. Consumers can bid on one of 11 Triple Crown cups during the on-line auction. The auction ends noon (EDT) on May 1. Christie’s will announce the winners prior to the Kentucky Derby.

Derby Legend Cups:
All Kentucky Derby winners are celebrated, but some, including Aristides, the first Derby winner, and Barbaro, the most recent Derby winner, stand out amongst the crowd. To commemorate these amazing thoroughbreds, Woodford Reserve has set a single diamond in an exclusive 24-kt gold-plated cup with a sterling silver sipping straw. Consumers can bid on one of two Derby Legend cups during the on-line auction. The auction ends noon (EDT) on May 1. Christie’s will announce the winners prior to the Kentucky Derby.

“We’re thrilled to continue the $1,000 Mint Julep program after last year’s success and to honor former Kentucky Derby winners on the cup,” said Tricia Amburgey, director of sales at Churchill Downs. “Each Kentucky Derby winner has a great story behind its victory. We can’t wait to see which cup raises the most money for charity.”

The Mint Julep Cocktail:
Cup owners will be able to receive an exclusive mint julep when they pick up their cup at one of three designated locations. With one-of-a-kind ingredients, including a special selection of Woodford Reserve bourbon, lush mint from the coast of Ireland, freshly harvested organic sugar from the cane fields in Queensland, Australia and ice from the Bavarian Alps, this exotic cocktail is truly a Derby luxury.

Guest bartenders including cocktail experts like Chris Morris, the Master Distiller of Woodford Reserve, and Tim Laird, Brown-Forman’s Chief Cocktail Officer, will be on hand to personally prepare mint juleps for the owners of the auctioned Mint Julep cups. The 119 gold cups will be presented at one of three designated locations where the exotic cocktail will also be offered.

About Woodford Reserve:
Woodford Reserve, 45.2% ABV, is the “Official Bourbon of the Kentucky Derby” made at the historic Woodford Reserve Distillery in Versailles, Kentucky – the heart of thoroughbred country. Woodford Reserve is one of the fine spirits produced and marketed by Brown-Forman Corporation (NYSE:BFB) (NYSE:BFA), a diversified company responsible for other quality consumer products including: Jack Daniel's Tennessee Whiskey, Southern Comfort, Fetzer and Bolla Wines, and Korbel California Champagnes. Woodford Reserve reminds you to drink responsibly. For more information on Woodford Reserve visit www.woodfordreserve.com.

Churchill Downs Incorporated ("Churchill Downs"), headquartered in Louisville, Ky., owns and operates world-renowned horse racing venues throughout the United States. Churchill Downs' five racetracks in Florida, Illinois, Indiana, Kentucky and Louisiana host many of North America’s most prestigious races, including the Kentucky Derby and Kentucky Oaks, Arlington Million, Princess Rooney Handicap, Louisiana Derby and Indiana Derby. Churchill Downs’ racetracks have hosted seven Breeders’ Cup World Championships. Churchill Downs also owns off-track betting facilities and has interests in various advance deposit wagering, television production, telecommunications and racing services companies that support Churchill Downs’ network of simulcasting and racing operations. Churchill Downs trades on the NASDAQ Global Select Market under the symbol CHDN and can be found on the Internet at www.churchilldownsincorporated.com.

About Christie’s:
Christie’s is the world’s leading art business with global auction sales in 2006 that totaled £2.51 billion / $4.67 billion. This 36% increase over 2005 marks the highest total in company and in art auction history. Christie’s is a name and place that speaks of extraordinary art, unparalleled service, and international glamour. Founded in 1766 by James Christie, Christie’s conducted the greatest auctions of the 18th, 19th and 20th centuries, and today remains a popular showcase for the unique and the beautiful. Christie’s offers over 600 sales annually in over 80 categories, including all areas of fine and decorative arts, jewelry, photographs, collectibles, wine, cars and more. Prices range from $200 to over $80 million. Christie’s has 85 offices in 43 countries and 14 salerooms around the world including in London, New York, Los Angeles, Paris, Geneva, Milan, Amsterdam, Tel Aviv, Dubai and Hong Kong. Most recently, Christie’s has led the market with expanded initiatives in emerging markets such as China, India and the United Arab Emirates, with successful sales and exhibitions in Beijing, Dubai, Mumbai and Russia. Christie’s also offers its clients worldwide access to its sales through Christie’s LIVE, its unique, real-time online bidding service.

LOUISVILLE, Ky.–April 18, 2007