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Churchill Downs, Inc. (CHDN) Yearly Returns

Year	Beginning Price	Ending Price	Gain or Loss	Percent Gain or Loss
1994	54.50	44.00	-10.50	-19.27%
1995	44.00	35.00	-9.00	-20.45%
1996	35.00	36.00	1.00	2.86%
1997	36.00	43.875	7.875	21.88%
1998	43.875	65.75*	21.875	49.86%
1999	32.875	22.5625	-10.3125	-31.37%
2000	22.5625	29.8125	7.25	32.13%
2001	29.8125	36.97	7.1575	24.01%
2002	36.97	38.18	1.21	3.27%
2003	38.18	36.37	-1.81	-4.74%
2004	36.37	44.70	8.33	22.90%
2005	44.70	36.73	-7.97	-17.83%
2006	36.73	42.74	6.01	16.36%
2007	42.74	53.97	11.23	26.28%
2008	53.97	40.42	-13.55	-33.52%
2009	40.42	37.35	-3.07	-7.60%
2010	37.35	43.40	6.05	16.20%
2011	43.40	52.13	8.73	20.12%

*The 1998 ending price for Churchill Downs has been adjusted for a 2 for 1 stock split.