Please find below a press statement from Belinda Stronach, Chairman and President of The Stronach Group regarding the release of the Maryland Stadium Authority report on 12/13.

The Stronach Group would like to thank the Maryland Stadium Authority for its thorough and extensive job of understanding and responding to the challenges of the aging Pimlico Race Course. The final conclusions of the MSA report are in line with our assessment that in order to bring the facility up to par, it will require several hundreds of millions of dollars.

The Stronach Group is investing heavily in racing and we are committed to the long-term sustainability of the Thoroughbred racing industry and to the communities in which we operate in Maryland. The MSA study began three years ago and from the outset we have expressed the need to address Pimlico, and by extension the Preakness Stakes, within the context of the broader racing ecosystem. A successful and viable future for Maryland Racing requires an industry encompassing and thoughtful capital plan that looks beyond one weekend of celebration to achieving great success year-round. We reiterate the need for action. We ask State and local leaders, working together with all segments of the racing industry, to tackle during the upcoming legislative session the important questions surrounding not only the financial requirements for a modern stadium that can host the Preakness Stakes but how to best support the needs of the Thoroughbred industry as a whole, sustainable year-round horse racing and training, an enhanced guest experience and greater fan engagement in Maryland.

Any questions or media requests can be sent to the following media contacts:

Amy Burke Friedman, PROFILES

afriedman@profilespr.com

Tiffani Steer, TheStronach Group

Tiffani.Steer@stronachgroup.com