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NEWS RELEASE
[SITRICK AND COMPANY LOGO]
Contact: Sitrick And Company
Michael Sitrick
Donna Walters
(310) 788-2850
CALIFORNIA JOCKEY CLUB SAYS DISSIDENTS RELEASE IS MISLEADING
SAN MATEO, CA -- AUGUST 29, 1996 -- The California Jockey Club's nominees
issued the following statement in response to a news release issued today by a
dissident stockholder group seeking to unseat CJC's current Board of Directors:
"The dissident group claims in their release that they have allegedly
found 'serious departures from the truth in a document filed by the
. . . board of the California Jockey Club and (are) demanding
immediate correction of the misrepresentations.' However, the
dissidents don't state what the alleged misrepresentations are. Thus,
we have nothing to which we can respond. This is consistent with their
so-called plan, which provides no specifics, either.
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2029 Century Park East, Suite 1750
Los Angeles, CA 90067
(310) 788-2850 Fax: (310) 788-2855
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NEWS RELEASE
[SITRICK AND COMPANY LOGO]
Contact: Sitrick And Company
Michael Sitrick
Donna Walters
(310) 788-2850
CALIFORNIA JOCKEY CLUB ISSUES STATEMENT REGARDING GAMCO NEWS RELEASE
SAN MATEO, CA -- AUGUST 29, 1996 -- The California Jockey Club today
issued the following statement regarding the two news releases issued by GAMCO
Investors, Inc.:
California Jockey Club (CJC) very much appreciates GAMCO's suggestions
for potential improvements to the Hudson Bay transaction. CJC's only
understanding with GAMCO, with respect to these matters, is CJC's
willingness, subject to Hudson Bay Partners' approval, to discuss any
refinements to the Hudson Bay transaction that may prove to be in the
best interests of CJC stockholders.
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2029 Century Park East, Suite 1750
Los Angeles, CA 90067
(310) 788-2850 Fax: (310) 788-2855
