com (select "About Youbet.youbet. EBITDA eliminates
the non-cash effect of tangible asset depreciation and intangible
asset amortization, as well as any non-cash gains or charges.

Business Editors/Horse Racing Writers

RALEIGH, N.churchilldownsincorporated. For more information, see www.60 to place.

workforce harness

(NASDAQ: UBET), a leading online wagering
company and the largest provider of horse racing content in the United
States, today reported net income for the 2004 fourth quarter period
of $535,372, or $0.04)
------------------------------------------- ---------------------------

(1) EBITDA is defined as earnings before interest, taxes, depreciation
and amortization.

"The record fourth quarter operating results reflect the benefits
of Youbet.com can be found at www.

Youbet. The Kentucky
Derby is the oldest, continuously held sporting event in North America
and is widely regarded as the greatest horse race in the world.7 million from 10.

About Churchill Downs Incorporated

Churchill Downs Incorporated, headquartered in Louisville, Ky.
Statements containing expressions such as "may ," "will," "project,"
"might," "expect," "believe," "anticipate," "intend," "could,"
"would," "estimate," potential," "continue" or "pursue" or the
negative or other variations thereof or comparable terminology used in
Youbet's press releases and in its reports filed with the Securities
and Exchange Commission are intended to identify forward-looking
statements.

presenters exploitation

horseracing presenters

04) per fully diluted share, in the 2003 fourth
quarter. This 2004 initiative to transition customers to higher
yielding tracks as well as the Company's success in expanding racing
content throughout 2004, resulted in a 35% rise in Youbet's 2004
fourth quarter net revenue on a 25% increase in handle over the prior
year period on a 'same track' basis. We are pleased that in December
we were able to reach an agreement with Magna to once again make all
of their horse racing content available in 2005 and believe our
customers will benefit by having access to this content.9 million in amortization costs for the 2004 fourth
quarter and a reduction of approximately $0. From time
to time, these risks, uncertainties and other factors are discussed in
the Company's filings with the Securities and Exchange Commission.com, Inc. Such
disclosures will be included in the Company's Annual Report on
Form 10-K when filed.6 million in 2003. tracks. "I probably
wouldn't have won if not for (my Dad)," he said.
"Online racing at Youbet allows me to enjoy the best racing from
around the country from the comfort of home.com is the largest Internet provider of thoroughbred,
quarter horse and harness horse racing content in the United States.

horseracing handicapping

Business Editors

WOODLAND HILLS, Calif.com , Inc. While we do not formally
provide financial guidance, we believe we are on track, based on our
expectations for growth from current operations alone, to achieve 2005
EPS of $0. The year-over -year decline in
operating expenses (excluding track and licensing fees) was partially
offset by a 62% increase in sales and marketing costs, which rose to
$1.
As of December 31, 2004, Youbet had cash and cash equivalents of
$13.
Such factors include, without limitation, the following: the timely
development and market acceptance of new products and technologies;
our ability to secure financing on terms acceptable to us; our ability
to control operating expenses; increased competition in the advance
deposit wagering business; a decline in the public acceptance of
wagering; wagering ceasing to be approved in jurisdictions where
Youbet currently operates; the limitation , conditioning or suspension
of any of Youbet's licenses; increases in or new taxes imposed on
wagering revenues; loss or retirement of key executives; and a decline
in the general economy.

Reconciliation of Net Income to EBITDA

Quarter Ended December 31,
------------------------ -----
2004 2003
-------------- --------------
Net income (loss) $ 535 ,372 $ (1,154,486)
Depreciation and amortization 230,265 1,175,365
Other (income) and expense (116,903) 346,647
-------------- --------------
EBITDA (a) $ 648,734 $ 367,526
============== ==============

Year Ended December 31,
-----------------------------
2004 2003
-------------- --------------
Net Income (Loss ) $ 4,631,334 $ (4,002,565)
Depreciation and Amortization 2,286,408 5,270,521
Other (income) and expense (145,486) 874,561
Decrease in deferred tax asset valuation
allowance net of $965,000 applied to
the current period pre-tax income (3,250,000) -
-------------- --------------
EBITDA (a) $ 3,522,256 $ 2,142 ,517
============== ==============

(a) EBITDA (earnings before interest, taxes, depreciation and
amortization) is considered a non-GAAP financial measure as defined by
SEC Regulation G. CDI also owns off-track betting facilities and has interests
in various television production, telecommunications and racing
services companies that support CDI 's network of simulcasting and
racing operations.

All trademarks and/or registered trademarks are the property of
their respective owners. for the NHC,
had at least one other memorable moment .

workforce harness

595,108 279,057
Other receivables, net of allowance for
doubtful collection of $180,457 in 2004.02 $ (0. Summus partners with
leading content brands to develop compelling and unique wireless
applications and content for the mobile phone, focused within the most
popular areas of growth, including photo-messaging, multi-player
games, news/information and personalization. As the ninth race at Turf
Paradise unfolded, the Michelsons were suddenly surrounded by ESPN's
documentary cameras hoping to capture race reaction. It was "only
fitting," according to Jamie, that he had wagered on a horse named
Papparatzi that eventually placed and paid $6 on a day ruled by
favorites. "He made me stick by
my picks. He
also puts Santa Anita in California and several of the south Florida
tracks at the top of his list. Although Youbet believes the
expectations reflected in such forward-looking statements are based
upon reasonable assumptions, it can give no assurance that actual
results will not differ materially from these expectations.

horseracing steeplechasing

With these
products , Youbet.
"We expect that throughout 2005 we will make progress on these
growth initiatives thereby enhancing long-term shareholder value. EST today, Monday, February 14, 2005.

Youbet.001 par value,
authorized 100,000,000 shares,
30,979,768 and 28,377,443 shares
issued and outstanding 30,980 28,377
Additional paid-in-capital 103,110,751 101,377,238
Deficit (87,215,262 ) (91,846,596)
Treasury stock (623,683 shares at cost) (1,828,709 ) (1,828,709)
-------------- --------------
14,097,760 7,730,310
-------------- ---- ----------
$ 25,378,620 $ 18,852,117
============== ==============

Disclosures necessary to conform to GAAP have been omitted.

Youbet.com, Inc. EBITDA
should be considered in addition to, rather than as a substitute for,
pre-tax income, net income and cash flows from operating activities. Players control their position on the track, their
position against other horses and their energy levels to finish the
race strongly.summus.

----In what
may be a sign of the times for horse racing, last month's National
Handicapping Championship (NHC) was won for the first time by a
digital handicapper who qualified for the tournament through the
summer contest staged by online wagering leader Youbet. He amassed $240.40 over the two days and won by the widest margin
in the history of the NHC.
Michelson, who partnered with his father James Sr.
A Youbet subscriber since last summer, Michelson claims he
immediately took to the interface of the site and the video tools.

workforce teamtalk

2 million, or ($0. IRG accepts only
telephone wagers, predominantly from high-volume customers.com is an official online wagering platform of Churchill
Downs Incorporated and the Kentucky Derby.com operates
TotalAccessSM, an Oregon-based hub for the acceptance and placement of
wagers . Such
disclosures will be included in the Company's Annual Report on
Form 10-K when filed. CDI racetracks have hosted nine Breeders' Cup World
Thoroughbred Championships - more than any other North American racing
company. The 39-year-old ad executive started using Youbet to play in
NHC qualifying tournaments and won his way to Las Vegas with a fourth
place finish in Youbet's first qualifying contest.00. Youbet.

racing barrel

As a
result, the excess amount of $150,000 was reflected in net income.com's infrastructure investments that have enabled the
Company to offer its customers a handicapping and wagering platform
that is unrivaled," said Charles F.1 million, excluding $3.com").
Members have the ability to watch and, in most states, the ability to
wager on the widest variety of horse racing content available via
Youbet. 254,805 1,132,359
Prepaid expenses 937,324 884,409
Deferred tax asset 3,250,000 -
-------------- --------------
21,522,197 13,493,785
Property and equipment, net 3,210,841 2,731,922
Restricted cash, net of current portion 487,750 593,982
Licenses and patents 28,148 1,407,447
Deposits and other 129,684 624,981
-------------- --------------
$ 25,378,620 $ 18,852 ,117
============== ==============

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Current portion of long term debt $ 391 ,208 $ -
Trade payables, TVG 3,928,161 3,426,076
Trade payables, track related 2,088,774 2,539,534
Trade payables, other 478,021 439,559
Accrued expenses 797,513 2 ,281,115
Customer deposits 3,327,132 2,356,004
Deferred revenues 112,156 79,519
----- --------- --------------
11,122,965 11,121,807

Long term debt, net of current portion 157,895 -
-------------- --------------
11,280 ,860 11,121,807
-------------- --------------

Stockholders' equity
Preferred stock, $0.02 $ (0.----Summus, Inc. Summus designs and
develops these applications with the industry's most intuitive
navigation that is designed for a consistently superior user
experience."
The partnership between father and son goes back a long way as the
young Michelson got the handicapping bug by visiting the track as a
kid with his Dad.
Youbet .

thoroughbred bloodstock

6 million for the quarter ended December 31,
2004 from $6.
Youbet.

Youbet."
"Summus continues to provide wireless customers with fresh,
cutting-edge games like Kentucky Derby Championship Racing," said Gary
Ban, CEO of Summus.com

About Summus

Summus is a leading provider of mobile media applications that
optimize the consumer wireless experience . The
NHC requires play in eight mandatory and seven optional races each
day.

harness bloodstock

Youbet.com Reports Record Fourth Quarter Results; Total Revenue Rises 14% to $16.2 Million; Diluted EPS of $0.02

Champion , Chairman and CEO of
Youbet.5 million. Following its completion,
a replay of the call can be accessed for thirty days on the Internet
at the above link.com

This press release contains certain forward-looking statements.15 $ (0.

Summus and Churchill Downs Incorporated Bring the 'Greatest Two Minutes in Sports' to the Mobile Phone; The Best Horse-Racing in the World is Now Available as

Mobile gamers can experience the exhilaration and challenge of
horseracing with Kentucky Derby Championship Racing, where players
become the jockey and manage their horse's rise through the ranks
amongst several Churchill Downs tracks to earn a position to race in
the Kentucky Derby.
Kentucky Derby Championship Racing has been launched to coincide
with Churchill Downs Incorporated's premier race, the $2 million
Kentucky Derby (Grade I), which will enjoy its 131st renewal on May 7,
2005 , at Churchill Downs racetrack in Louisville, Ky. CDI trades on the Nasdaq National Market under the
symbol CHDN and can be found on the Internet at
www.

Youbet.com Qualifier Named National Handicapper of the Year at DRF/NTRA Championship; Jamie Michelson's Win Chronicled On ESPN This Weekend; First Digital Hand

S. A winning ticket on Birdstone paid $74.com

Forward-Looking Statements

This press release contains certain forward-looking statements.

cheltenham columnist

3 million and total current assets of $21.
Youbet . This exciting
horse-racing game incorporates help screens that educate users on the
terminology and skills needed to win, all the way to the roses. "Working with premier brands such as Churchill
Downs Incorporated and the Kentucky Derby allows us to expand our
gaming strategy by introducing a new audience to wireless games.,
owns and operates world-renowned horse racing venues throughout the
United States.
Summus hereby disclaims any obligation to publicly update the
information provided above, including forward-looking statements, to
reflect subsequent events or circumstances.

Business Editors

WOODLAND HILLS, Calif.com. The
selection put Michelson ahead for good with just a few hours remaining
in the tournament."
Michelson claims to excel at picking long shots, a skill that
obviously served him well in the NHC.

equestrian bloodstock

In addition, general and administrative costs
for the three-month period ended December 31, 2004 declined
approximately 2.3 million in
deferred tax assets.
Youbet. Youbet. More information on Youbet.
Cell phone games are expected to grow from $345 million in revenues in
2004 to $1. Informa Media Group, a London-based media
and telecommunications research firm, says that worldwide cell phone
games sales could reach about $1 billion in 2005 and $4 billion in
2007, compared with $584 million in 2003.

columnist nicholson

"Throughout 2004 we also introduced several new product offerings
including X2 Video, our multi-video offering, Race Replay and a new
supercharged handicapping tool, Turfday Super Stats. Fourth quarter 2004 general and administrative
expenses included approximately $0. To access the live call on the Internet, log on to
www. and Subsidiary
Consolidated Balance Sheets
December 31, 2004 and 2003

2004 2003
-------------- --------------
ASSETS:
Current assets:
Cash and cash equivalents $ 13,287,492 $ 8,273,926
Current portion of restricted cash 3,197,468 2,924,034
Accounts receivable, net of allowance
for doubtful collection of
$346,000 and $553,600.001 par value,
authorized - -
1,000,000 shares, none outstanding
Common stock, $0. Such
disclosures will be included in the Company's Annual Report on
Form 10-K when filed . Additional carriers will be launching the game
in the coming months. "Being able to experience the excitement
of horse racing as a game on your mobile phone continues to extend our
reach to sports and race enthusiasts. More information about potential risk factors that
could affect our business , products, and financial results is included
in Summus' annual report on Form 10-K for the year ended December 31,
2004, and in reports subsequently filed by Summus with the Securities
and Exchange Commission("SEC"). This is the first year that Youbet staged
qualifying events for the tournament as part of a membership and
marketing partnership with NTRA announced last Spring.
Michelson gave his father a lot of credit for the win.
The ESPN special on the NHC airs at 5:00 pm eastern time this
Saturday. Youbet.

equestrian turfcall

2%
-------------------------------------------------------------------- --
EBITDA (1) $ 649 $ 368 77.0%
-------------------- --------------------------------------------------
Net income (loss) (2) $ 535 $ (1,154)
----------------------------------------------------------------------
Diluted EPS (2) $ 0. In addition, we were able to leverage these new products
while analyzing customers' wagering preferences and offering programs
that together enabled us to maximize our returns and offset the loss
in 2004 of the majority of content from Magna Entertainment's (Magna)
tracks .5 million in aggregate costs
related to compliance with Sarbanes-Oxley Section 404 and the charge
for the AWI acquisition bid noted above.C.99.com."
The number of people playing games on cell phones in the United
States last year jumped to 18.
Michelson is the first online qualifier to win the handicapping
contest, now in its sixth year under the sponsorship of the Daily
Racing Form (DRF) and the National Thoroughbred Racing Association
(NTRA).

barrel presenters

Separately in the three months ended December 2004, the
Company received a $1.3 million insurance settlement from its D+O
insurance carrier as partial reimbursement for legal fees incurred
and payments made to ODS Technologies LP (AKA TVG), during 2004 to
settle certain legal proceedings between TVG and the Company. The conference call number
is 706/679-4652.youbet. This game is designed for different levels of play,
giving novices or old pro's a chance to win the Kentucky Derby, known
worldwide as the "Greatest Two Minutes in Sports".
Winners can see how they stack up against the competition on the
leader-board at www.
"Churchill Downs Incorporated's mission is to provide the highest
quality horse racing and entertainment experience to horse racing fans
everywhere," said Tyrone E.
The big moment in the competition for the Youbet contender came on
the second day of the event when a thoroughbred named Joe Pag
thundered to victory in one of his optional plays -- the tenth race at
Gulfstream -- and paid $35.

ascot teamtalk

"In 2005 we continue to focus on two primary goals that we believe
will allow us to continue our growth. To this end, we also will continue to
explore domestic consolidation opportunities that could leverage the
extensive capacity of our current system. Thus
far in 2005 we have gotten off to a strong start, generating handle
growth of nearly 25% on a year-to-date basis .com members enjoy features that include commingled track
pools, live audio/video, up-to-the-minute track information, real-time
wagering information, phone wagering and value-added handicapping
products .com, Inc. and Subsidiary
Consolidated Statements of Cash Flows
Twelve Months Ended December 31,

2004
--------------
Operating activities
Net income (loss) $ 4,631,334
Adjustments to reconcile net income (loss) to net cash
provided in operating activities:
Depreciation and amortization 2,286,408
Non-cash interest expense -
Stock-based employee compensation 94,586
Increase in operating (assets) and liabilities:
Restricted cash (424,698)
Receivables (316,051)
Other receivables 877,554
Prepaid expenses (52,915)
Income tax benefit from change in valuation
allowance (3,250,000)
Deposits and others 505,229
Trade payables, TVG 502,085
Trade payables, track related (450,760)
Trade payables, other 38,462
Accrued expenses (1,067,720)
Customer deposits 971,128
Deferred revenues 32,637
--------------
Net cash provided by operating activities 4,377,278
--------------
Investing activities
Purchases of property and equipment (648,381)
Intangibles (38,081)
Decrease (increase) in restricted cash 257,496
--------------
Net cash provided by (used in) investing
activities (428,966)
--------------
Financing activities
Proceeds from exercise of stock options and
warrants 1,225,649
Proceeds from notes payable -
Repayment of long term debt (160,395)
Net cash provided by financing activities 1,065,254
--------------
Net increase in cash and cash equivalents 5,013,566
Cash and cash equivalents at the beginning of the
period 8,273,926
--------------
Cash and cash equivalents at the end of the period $ 13,287,492
==============

Disclosures necessary to conform to GAAP have been omitted.(OTCBB:
SMMU), a leading provider of mobile media applications that optimize
the consumer wireless experience, and Churchill Downs Incorporated
(NASDAQ: CHDN), a leader in thoroughbred racing from coast to coast,
have created an exciting and challenging horse racing game for the
mobile phone subscriber. Kentucky Derby(R) Championship Racing is now
available on Java -enabled Sprint PCS Vision handsets for a one time
download fee of $4. According
to Street + Smith 's Sports Business Journal, more than 31 million
people attended racing events in 2004. The Company 's seven racetracks in California, Florida,
Illinois, Indiana, Kentucky and Louisiana host 121 graded -stakes
events and many of North America's most prestigious races, including
the Kentucky Derby and Kentucky Oaks, Hollywood Gold Cup and Arlington
Million. From time
to time, these risks, uncertainties and other factors are discussed in
the Company's filings with the Securities and Exchange Commission .

equestrian cups

02 per fully diluted share, compared to a loss of
$1.com recorded a
one-time charge of approximately $275,000 (net of a $75,000
settlement) for expenses incurred in connection with its efforts
to acquire American Wagering, Inc.
"In addition we continue to target domestic and international race
tracks where Youbet would provide the 'back-end' off-track wagering
system.0 million from $0.com is the largest Internet provider of thoroughbred,
quarter horse and harness racing content in the United States as
measured by handle data published by the Oregon Racing Commission.com, Inc .15)
Weighted average shares outstanding
Basic 30,082,521 26,259,034
Diluted 34,004,921 26,259,034

Disclosures necessary to conform to GAAP have been omitted. Summus currently offers
an ever-growing list of 28 mobile phone applications deployed through
41 major wireless carriers in the U.
Youbet . More information on Youbet can be found at
www.

steeplechasing bloodstock

----Youbet.

(2) In the three months ended December 31, 2004, Youbet. "For the 2004 full year, we generated record performance in
nearly all relevant measures including total handle, net revenue,
number of transactions processed, new customers added, concurrent
users and funding records such as deposit transactions and dollar
amounts on deposit.15 million in research and
development expenses.6 million in the 2003 fourth quarter due
primarily to higher business development expenses related to the
Company's efforts to diversify its revenue sources. is hosting a conference call and web cast at 5:00
p. Although Youbet believes the
expectations reflected in such forward-looking statements are based
upon reasonable assumptions , it can give no assurance that actual
results will not differ materially from these expectations . Youbet does not undertake, and
specifically disclaims any obligation, to publicly release the result
of any revisions that may be made to any forward-looking statements to
reflect the occurrence of anticipated or unanticipated events or
circumstances after the date of such statements.

In a year when most sports
events saw ratings declines, horse racing attendance and viewership
via broadcast and cable programming set record highs. It definitely keeps my
interest and enhances my enjoyment of the sport.com members
enjoy features that include commingled track pools, live audio /video,
up-to-the-minute track information, real-time wagering information,
phone wagering and value-added handicapping products. These forward-looking statements, which are included in
accordance with the Safe Harbor provisions of the Private Securities
Litigation Reform Act of 1995, may involve known and unknown risks,
uncertainties and other factors that may cause Youbet's actual results
and performance in future periods to be materially different from any
future results or performance suggested by the forward-looking
statements in this press release.
Such factors include, without limitation , the following: the timely
development and market acceptance of new products and technologies;
our ability to secure financing on terms acceptable to us; our ability
to control operating expenses; increased competition in the advance
deposit wagering business; a decline in the public acceptance of
wagering; wagering ceasing to be approved in jurisdictions where
Youbet currently operates; the limitation, conditioning or suspension
of any of Youbet's licenses; increases in or new taxes imposed on
wagering revenues; loss or retirement of key executives; and a decline
in the general economy.

harness columnist

(AWI) through a reorganization
plan."
Operating expenses (excluding track and licensing fees) declined
approximately 13% to $5.2%, to $3.04)
Diluted income (loss) per share $ 0. and Subsidiary
Consolidated Statements of Operations
Twelve Months Ended December 31,

2004 2003
-------------- --------------
Revenues
Commissions $ 62,791,496 $ 52,160,697
Other 2,457,618 1,986,173
------------- - --------------
65,249,114 54,146,871
-------------- --------------
Operating expenses
Track fees 26,199,688 22,805,411
Licensing, TVG 14,424,438 10,839,164
Network operations 3,292,591 3,048 ,950
Research and development 1,510,969 1,601,339
Sales and marketing 3,535,270 2,287,530
General and administrative 12,763 ,902 11,421,959
Depreciation and amortization 2,286,408 5,270,521
-------------- --------------
64,013,266 57,274,874
-------------- - -------------
Income (loss) from operations 1,235,848 (3,128,004)
-------------- --------------
Other income (expense)
Interest income 154,446 52,857
Interest expense (15,373) (1,005,826)
Other 6,412 78,408
-------------- --------------
145,486 (874,561)
-------------- --------------
Income (loss) before income taxes 1,381,334 (4,002,565 )
Income tax benefit
Decrease in deferred tax asset valuation
allowance, net of $965,000 applied to
eliminate the 2004 tax provision (3,250,000) -
-------------- --------------
Net income (loss) $ 4,631,334 $ (4,002,565)
============== ==============

Basic income (loss) per share $ 0.15)
Diluted income (loss) per share $ 0.14 $ (0.summus.
Detroit-area native Jamie Michelson out-picked 214 players
competing at Bally's - Las Vegas to be named the National Handicapper
of the Year and win $200 ,000 in prize money, a chance to rub shoulders
with industry VIPs at the annual Eclipse Awards in Los Angeles and a
prominent place in a feature documentary on the event to be aired by
ESPN on February 20, 2005. "I
visit on most Saturdays to look at races while being very selective in
my wagering," he said.com's exclusive closed-loop network. Readers are cautioned not to place undue
reliance on forward-looking statements, which speak only as of the
date of this press release.

wrgb exploitation

A reconciliation of EBITDA to net income, the
most comparable Generally Accepted Accounting Principles ("GAAP ")
financial measure, can be found attached to this release.
Youbet. These forward-looking statements, which are included in
accordance with the Safe Harbor provisions of the Private Securities
Litigation Reform Act of 1995, may involve known and unknown risks,
uncertainties and other factors that may cause Youbet's actual results
and performance in future periods to be materially different from any
future results or performance suggested by the forward-looking
statements in this press release. Such
disclosures will be included in the Company's Annual Report on
Form 10-K when filed. and Subsidiary
Consolidated Statements of Operations
Three Months Ended December 31,

2004 2003
-------------- ------------ --
Revenues
Commissions $ 15,552,223 $ 13,731,525
Other 670,863 505,366
-------------- --------------
16,223,086 14,236 ,891
-------------- --------------
Operating expenses
Track fees 6,302,277 5,690,557
Licensing, TVG 3,906,003 2,911,475
Network operations 854 ,969 890,442
Research and development 239,415 394,125
Sales and marketing 956,887 591,719
General and administrative 3,314,801 3,391,047
Depreciation and amortization 230,265 1 ,175,365
-------------- --------------
15,804,617 15,044,731
-------------- --------------
Income (loss) from operations 418,469 (807,839 )
-------------- --------------
Other income (expense )
Interest income 56,815 22,097
Interest expense (9,854) (368,744)
Other 69 ,942 -
-------------- --------------
116,903 (346,647)
-------------- --------------
Income (loss) before income taxes 535,372 (1,154,486)
Income tax benefit
Decrease in deferred tax asset valuation
allowance, net of $215,000 applied to
eliminate the 2004 tax provision - -
-------------- --------------
Net income (loss) $ 535,372 $ (1,154,486)
============== ==============

Basic income (loss) per share $ 0. These days his favorite online track is Saratoga, a
venue he enjoys visiting in person when he travels to New York.
Members have the ability to watch and, in most states, the ability to
wager on a vast majority of all major domestic horse racing content
via Youbet.com operates
Youbet.

equestrian thoroughbred

Summary Q4 Results

----------------------------------------------------------------------
(in thousands , except per share For the three months
figures) ended ---- ----------------------------------------------------------------
2004 2003 % change
---------------------------------------------------------- ------------
Total wagers (handle) $ 76,675 $ 69,888 9. To this end, we recently announced
our agreement to acquire, in an accretive transaction, International
Racing Group (IRG), a privately-held, licensed and regulated
pari-mutuel wagering company based in Curacao .18 per diluted share, which is the current analyst consensus
estimate. The year-over-year decline is primarily due to reductions of
approximately $0. We consider EBITDA an important measure of our
financial performance and of our ability to generate cash flows to
measure operating performance , fund capital expenditures and fund
other corporate investing and financing activities. In
2004 , attendance at the Kentucky Derby reached 140,054, making it one
of the largest attended Derby Days in the event's history. All documents are available through
the SEC's Electronic Data Gathering Analysis and Retrieval system
(EDGAR) at www.
Michelson's win was based on two days of handicapping results for
30 mythical $2 win-and-place bets on races at seven U.60 to win and $16.com is an official online wagering platform of Churchill
Downs Incorporated and the Kentucky Derby.Youbet.

equestrian exploitation

0%
----------------------------------------------------------------------
Net revenue (revenues from
commissions less track and
licensing fees) $ 5,344 $ 5,129 4.com continued to advance its position as the
industry's leading provider of horse racing content and wagering
platform. First, we believe that as the
industry's leading ADW provider with the most racing content currently
available, we can continue to achieve year-over-year growth in both
total handle and net revenue.
"Second, we continue to make steady progress on our initiatives to
diversify our sources of revenue.4 million in the three month period ended December 31,
2003 .com, Inc.04)
Weighted average shares outstanding
Basic 30 ,700,667 28,376,122
Diluted 33,983,725 28,376,122

Disclosures necessary to conform to GAAP have been omitted.com

This press release contains forward-looking statements that
involve risks and uncertainties concerning Summus' business, products ,
and financial results. Actual results may differ materially from the
results predicted.

unbridled bloodstock

7%
----------------------------------------------------------------------
Total revenue (commissions from
handle plus other revenue) $ 16,223 $ 14,237 14.02 $ (0. The Company
had working capital of $7.com's website. Readers are cautioned not to place undue
reliance on forward-looking statements, which speak only as of the
date of this press release. The website also offers Kentucky
Derby and Churchill Downs Incorporated wallpapers and ringtones that
let users feel like they are a part of the action. Players can visit
this website to discuss the game on the chat forum, view a complete
game demonstration, and learn about future contests and prizes that
top players can earn.S and abroad.com. One recent non-Internet example:
he bet Birdstone to beat Triple Crown contender Smarty Jones in last
year's Belmont Stakes.com TotalAccess(TM), an Oregon-based hub for the acceptance and
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We also plan to continue to pursue opportunities in the
important Nevada market on a stand-alone basis, through an investment
or a strategic partnership .3 million, compared to $3.4 million in the
prior year period.
Statements containing expressions such as "may," "will," "project,"
"might," "expect," "believe," "anticipate," "intend," "could,"
"would," "estimate," potential," "continue" or "pursue," or the
negative or other variations thereof or comparable terminology used in
Youbet's press releases and in its reports filed with the Securities
and Exchange Commission are intended to identify forward-looking
statements.phonederby. Tubbs , vice president of sales for
Churchill Downs Incorporated.5 billion in 2008 in the United States alone, according to
market research firm IDC. Youbet does not undertake, and
specifically disclaims any obligation, to publicly release the result
of any revisions that may be made to any forward-looking statements to
reflect the occurrence of anticipated or unanticipated events or
circumstances after the date of such statements.

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