Prospectus - Prize Money Distribution

Prize money will be paid in Hong Kong dollars or in another currency upon request, at the Club's prevailing exchange rate at that time. Owners' earnings are tax free in Hong Kong; visiting trainers' and jockeys' earnings are subject to Hong Kong tax (currently 10.67%).

a)	Owners' percentage: 70% for the winner, 75% for 2nd - 6th places
b)	Trainers' percentage: 10% for 1st - 6th places
c)	Jockeys' percentage: 10% for the winner, 5% for 2nd- 6th places
d)	Stables' percentage: 10% for 1st - 6th places

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Cathay Pacific Hong Kong Cup

HK$20 million (US$2,559,000)

HK$ US$* 1st 11,400,000 1,459,000 2nd 4,400,000 563,000 3rd 2,000,000 256,000 4th 1,140,000 146,000 5th 660,000 84,000 6th 400,000 51,000 Total 20,000,000 2,559,000

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Hong Kong Mile G1 1600m

HK$16 million (US$2,048,000)

HK$ US$* 1st 9,120,000 1,167,000 2nd 3,520,000 451,000 3rd 1,600,000 205,000 4th 910,000 116,000 5th 530,000 68,000 6th 320,000 41,000 Total 16,000,000 2,048,000

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Cathay Pacific Hong Kong Vase G1

HK$14 million (US$1,791,000)

HK$ US$* 1st 7,980,000 1,021,000 2nd 3,080,000 394,000 3rd 1,400,000 179,000 4th 800,000 102,000 5th 460,000 59,000 6th 280,000 36,000 Total 14,000,000 1,791,000

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Cathay Pacific Hong Kong Sprint G1

HK$12 million (US$1,536,000)

HK$ US$* 1st 6,840,000 875,000 2nd 2,640,000 338,000 3rd 1,200,000 154,000 4th 680,000 87,000 5th 400,000 51,000 6th 240,000 31,000 Total 12,000,000 1,536,000

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* Approx. figures per exchange rates as at June 2007