Big increases in values of Smurfit Champion Hurdle, Queen Mother Champion
Chase, Ladbrokes World Hurdle and totesport Gold Cup

Prize money at Cheltenham for the 2005/06 season will stand at a record
£4.82 million, with £2.87 million of this spread over the four days of The
Festival. This means that the average prize fund for races at Cheltenham
this season stands at £47,000.

In addition to the record level of prize money, all four of the "major"
Championship races will see a substantial increase to their purses.

The Smurfit Champion Hurdle - Tuesday, March 14, 2006
The 2006 running of the Smurfit Champion Hurdle will have a prize fund of
£340,000. This compares to £300,000 in 2005 and represents an increase of
13.3%.

The Queen Mother Champion Chase - Wednesday, March 15, 2006
This season's Queen Mother Champion Chase will have prize money of
£290,000, compared to £250,000 last year - an increase of 16%.

The Ladbrokes World Hurdle - Thursday, March 16, 2006
In 2006, the prize fund for the Ladbrokes World Hurdle will stand at
£230,000 - up from £200,000 in 2005 and an increase of 15%. The Ladbrokes
World Hurdle last season became the fourth major feature of The Festival,
alongside the Smurfit Champion Hurdle, Queen Mother Champion Chase and
totesport Gold Cup.

The totesport Gold Cup - Friday, March 17, 2006
The 2006 totesport Cheltenham Gold Cup has a prize fund of £400,000 - up
from £350,000 in 2005 and an increase of 14.3%.

Peter McNeile, Commercial Manager at Cheltenham, commented: "We are
thrilled to be able to significantly raise prize money for the four
championship races at The Festival.

"The increases will enable the Smurfit Champion Hurdle, Queen Mother
Champion Chase, Ladbrokes World Hurdle and totesport Gold Cup to cement
their positions as the respective championship contests for the very best
horses in jump racing."