Carnegie Cooke Retains Robert Scherne, CPA as Consultant to Function as Comptroller

Business Wire, July 15, 2004

LAS VEGAS -- Mark Goldberg, COO of Carnegie Cooke & Co., Inc. (PK: CGKY) is pleased to announce that Robert C. Scherne, CPA will become a consultant to Carnegie Cooke effective immediately, performing certain functions and duties commonly performed by a comptroller or CFO. Mr. Scherne stated, "I am pleased with my role, which is to assist Carnegie Cooke in becoming a reporting company by year end with the goal of having Carnegie Cooke positioned for an exchange or higher market listing shortly thereafter."

Mr. Goldberg stated that "With the growth that Carnegie Cooke is now enjoying, it is imperative to position the company with the best talent in their respective fields as we expand our operations in Brazil, the United States and Europe."

Mr. Scherne has been practicing accounting for over 25 years. Prior to forming his own practice in 2003, Mr. Scherne was an audit partner in the New York based firm Merdinger, Fruchter Rosen and Company. He worked primarily with companies registered with the SEC. His SEC experience includes initial public offerings, subsequent capital raising registrations and ongoing SEC reporting. Mr. Scherne's firm, Robert C. Scherne, CPA, PC, specializes in consulting with smaller public companies to facilitate compliance with SEC reporting obligations. Mr. Scherne is an active member of the American Institute of Certified Public Accountants and the New York State Society of Certified Public Accountants.

About Carnegie Cooke:

Carnegie Cooke is the leading media and distribution company in the Brazilian turf industry. The Brazilian Department of Agriculture reports that in 2000 turf/gaming industry revenues were in excess of US$377 million, in local racing events, using un-mechanized facilities. Carnegie Cooke's Brazilian subsidiary has been granted the exclusive rights by the Brazilian Association of Jockey Clubs and the endorsement of the Brazilian Government to mechanize Jockey Club facilities and to implement international simulcast racing throughout Brazil. Carnegie Cooke Ltd. is a recently formed subsidiary based in London, England which is intended to be the hub of Carnegie Cooke's expansion into the UK and continental Europe.

About Carnegie Cooke's subsidiary NetBooth:

NetBooth Corporation is a 10-year-old Las Vegas-based technology company that designs, develops, deploys and maintains best-in-class technology, content and distribution systems to the media and entertainment, sports, gaming, leisure and lodging industries. NetBooth is a full-service integrator of content, distribution and technology in the delivery and transmission of entertainment, information, communication and transaction services to these constituencies. It has developed many proprietary systems which enable self service, public access and amusement devices to work with networks and users. Its systems - and kiosks incorporating them - are deployed in many Las Vegas casinos including Circus Circus, Hard Rock Hotel, Excalibur Hotel, Coast Resorts, Mandalay Bay, and the Rampart Casino.

In 2000, Caesars Entertainment Inc. (NYSE: CZR) invested $2.8 million for an early equity position in NetBooth. NetBooth has also developed the Hard Rock Hotel's website, and interfaces and software engines for Park Place Entertainment and several other casinos.

Safe Harbor Statement: Except for historical information, the matters set forth herein, which are forward-looking statements, involve certain risks and uncertainties that could cause actual results to differ. Potential risks and uncertainties include, but are not limited to, perceived or actual benefits from Carnegie Cooke's planned operations, the market acceptance and level of sales derived from its operations, the competitive environment within the United States, European, Brazilian and South American gaming industry, and the successful technical and economic implementation of its operations.