FASIG-TIPTON KENTUCKY, INC.
                          ADENA SPRINGS ANNUAL SALE
                          11/06/03
                                                                    PAGE   1

 HIP         DESCRIPTION                        PRICE ($)
 NO.         CONSIGNED BY                       PURCHASER

201  LA SPRUCE                                  4,000
 M   ADENA SPRINGS                              ROBERT S WEST JR., AGENT

202  LAKE LEMAN                                 28,000
 M   ADENA SPRINGS                              MACHMER HALL, AGENT

203  LOVE SICK                                  27,000
 M   ADENA SPRINGS                              WOODLYNN FARM

204  LOVE WHISPER                               10,000
 M   ADENA SPRINGS                              READE BAKER

205  MAD 'BOUT YOU                              25,000
 M   ADENA SPRINGS                              GARDINER FARMS LIMITED

206  MAGGIE VALLEY                              6,500
 M   ADENA SPRINGS                              JIM GASTON

207  MAS O MENO (IRE)                           32,000
 M   ADENA SPRINGS                              COLBY FIELDS LLC, AGENT

208  MINERS MATE                                5,000
 M   ADENA SPRINGS                              ELIZABETH B BARR

209  MONTE CARLO MISS                           65,000
 M   ADENA SPRINGS                              PABLO SUAREZ

210  NICKY TIKI                                 6,000
 M   ADENA SPRINGS                              W P STIRITZ

211  NOON AT TOM'S                              13,000
 M   ADENA SPRINGS                              JOHN CAREY

212  OCEAN MYSTERY                              2,000
 M   ADENA SPRINGS                              JOANNE WALKER-NG, AGENT

213  ORCHID PRINCESS                            3,500
 M   ADENA SPRINGS                              KENYON G FURLONG

214  PASSION FRUIT                              10,000
 M   ADENA SPRINGS                              ASHLEIGH STUD

215  PERFECT GIRL                               30,000
 M   ADENA SPRINGS                              KARL HOHENSEE

216  PERSONAL DELIGHT                           25,000
 M   ADENA SPRINGS                              SWYNFORD MANAGEMENT LLC

217  PLATINUM CODE                              55,000
 M   ADENA SPRINGS                              ARCH BLOODSTOCK LLC

218  PRINCESS FRANNY                            51,000
 M   ADENA SPRINGS                              THORNMAR

219  READY TO WALTZ                             3,500
 M   ADENA SPRINGS                              JOHN O'MEARA

220  REAL JOY                                   3,500
 M   ADENA SPRINGS                              MACHMER HALL, AGENT

221  RED ROYAL                                  27,000
 M   ADENA SPRINGS                              ED ROGGENKAMP

222  RED VALENTINE                              22,000
 M   ADENA SPRINGS                              THORNMAR

223  ROYAL LINKAGE                              39,000
 M   ADENA SPRINGS                              GARY M & KAREN FARRAR

224  RUBY RUBLES                                43,000
 M   ADENA SPRINGS                              THE ELKSTONE GROUP

225  SHERRY RED                                 3,700
 M   ADENA SPRINGS                              D RUSSELL & D POSGAI

226  SILVERDEW                                  75,000
 M   ADENA SPRINGS                              DARK HOLLOW FARM

227  SMART ZONE                                 10,500
 M   ADENA SPRINGS                              ROBERT L LOSEY

228  SPARKLING SKY                              10,000
 M   ADENA SPRINGS                              SCOTT LANIER

229  STAGE DOOR HONEY                           45,000
 M   ADENA SPRINGS                              KARL HOHENSEE

230  START STINGING                             9,000
 M   ADENA SPRINGS                              READE BAKER & QUEENS VALLEY

231  SUB ROSA                                   25,000
 M   ADENA SPRINGS                              DR CORNELIUS LINK

232  SUDDEN SMILE                               10,000
 M   ADENA SPRINGS                              DON GRAHAM

233  SUGAR MISS                                 5,500
 M   ADENA SPRINGS                              ROBERT BUEHRER

234  SWEETHEART SLEW                            - OUT -
 M   ADENA SPRINGS

235  SWIFT PRINCESS                             35,000
 M   ADENA SPRINGS                              DISCOVERY BLOODSTOCK

236  TIME IN THE SUN                            45,000
 M   ADENA SPRINGS                              MACHMER HALL

237  TOMOZA                                     17,000
 M   ADENA SPRINGS                              JIM GASTON

238  VIGOROUS FEELINGS                          40,000
 M   ADENA SPRINGS                              ROSARIO ZUPPARDO

239  WEDDING GAME                               11,000
 M   ADENA SPRINGS                              W P STIRITZ

240  WIANNO                                     33,000
 M   ADENA SPRINGS                              TONY BOWLING

241  WILD LIGHTNING                             - OUT -
 M   ADENA SPRINGS

242  WINNING ZONE                               2,500
 F   ADENA SPRINGS                              JAMES & PATRICIA TERRYN

243  ALPHA QUEEN                                10,000
 M   ADENA SPRINGS                              ROY GREGORY PEACH

244  AWAY TO FAME                               24,000
 M   ADENA SPRINGS                              DISCOVERY BLOODSTOCK

245  BLACK TIE LADY                             74,000
 M   ADENA SPRINGS                              GARY L SMITH

246  BLACK ZONE                                 3,200
 M   ADENA SPRINGS                              TOOTH-ACRES FARM LLC

247  BLITZ WEDDING                              2,500
 M   ADENA SPRINGS                              JOANNE WALKER-NG, AGENT

248  BLUFF'S DIVIDEND                           32,000
 M   ADENA SPRINGS                              VICTORY VIEW FARM

249  CORAL CASTLE                               9,000
 M   ADENA SPRINGS                              RONALD GROTHAUS

250  DANCER'S ATTITUDE                          19,000
 M   ADENA SPRINGS                              JIM GASTON

251  D'AVENIR                                   17,000
 M   ADENA SPRINGS                              TONY BOWLING

252  DAZZLING DIVA                              8,000
 F   ADENA SPRINGS                              HARRY L LANDRY

253  DEVIL'S QUID                               9,000
 M   ADENA SPRINGS                              LOVE 2 WIN STABLE

254  DIAL A PRAYER                              9,000
 M   ADENA SPRINGS                              ROBERT C FRANCIS

255  DISTINCT HABIT                             80,000
 M   ADENA SPRINGS                              DISCOVERY BLOODSTOCK

256  FEELING EASY                               19,000
 M   ADENA SPRINGS                              DAN DIXON

257  FIRE RED                                   10,000
 M   ADENA SPRINGS                              DEJA VU FARM

258  FLIGHT DELIGHT                             10,000
 M   ADENA SPRINGS                              ROBERT L LOSEY

259  FOXTROT FANCY                              8,000
 M   ADENA SPRINGS                              JAN BASSON

260  GEM'S FOR JULIE                            9,000
 M   ADENA SPRINGS                              TONY BOWLING

261  GOLDEN DISK                                60,000
 M   ADENA SPRINGS                              CHAD SCHUMER, AGENT

262  JUDITH'S CONCERN                           32,000
 M   ADENA SPRINGS                              EUGENIO COLOMBO, AGENT

263  JUST FLAWLESS                              7,000
 M   ADENA SPRINGS                              WILLARD BURBACH





            11/06/03

              HEAD                         NOT
      DATE    SOLD       AMOUNT  AVERAGE  SOLD    MEDIAN

    11/06/03    61    1,364,900   22,375          13,000

Fasig-Tipton Company, Inc., 2400 Newtown Pike, Lexington, KY 40511 Phone: 859-255-1555 Fax: 859-254-0794