FASIG-TIPTON KENTUCKY, INC.
                          ADENA SPRINGS ANNUAL SALE
                          11/11/04
                                                                    PAGE   1

 HIP         DESCRIPTION                        PRICE ($)
 NO.         CONSIGNED BY                       PURCHASER

301  SAHARA PRINCESS                            14,000
 M   ADENA SPRINGS                              LARRY T SMITH

302  SALLY'S FORUM                              9,500
 M   ADENA SPRINGS                              JAY MCKEE

303  SAMOAN QUEEN                               28,000
 M   ADENA SPRINGS                              THORNMAR, AGENT

304  SCARLET FIRE                               - OUT -
 M   ADENA SPRINGS

305  SEQUOIA ROSE                               15,000
 M   ADENA SPRINGS                              JOAN SCHILKE

306  SERGEANT MIMI                              20,000
 M   ADENA SPRINGS                              TAMMY BARNES

307  SILK CITY                                  60,000
 M   ADENA SPRINGS                              RICH MEADOW FARM

308  SKIP IN                                    14,000
 M   ADENA SPRINGS                              DAVE CHRISTENSEN

309  SKIP THE SALE                              6,000
 M   ADENA SPRINGS                              GRANTON BLOODSTOCK

310  SOUP'S HOT                                 13,000
 F   ADENA SPRINGS                              LARRY T SMITH

311  SWEETHEART SLEW                            16,000
 M   ADENA SPRINGS                              ARLENE BOAS

312  TICKLISH SITUATION                         125,000
 M   ADENA SPRINGS                              OCALA STUD

313  TOUCHMEIFYOUCAN                            15,000
 M   ADENA SPRINGS                              MCMAHON BLOODSTOCK LLC, AGENT

314  TRAIL OF HONOR                             11,000
 F   ADENA SPRINGS                              THE ELKSTONE GROUP

315  UNCATCHABLE                                22,000
 M   ADENA SPRINGS                              LIBERTY BLOODSTOCK

316  WAY TOO QUICK                              11,000
 M   ADENA SPRINGS                              LAURA MCKINNEY, AGENT

317  WHISTLING BULLET                           60,000
 M   ADENA SPRINGS                              C J THOROUGHBREDS

318  WILD WOOD GLORY                            7,000
 M   ADENA SPRINGS                              ELIZABETH B BARR

319  ALL MINE                                   13,000
 M   ADENA SPRINGS                              CHAD SCHUMER, AGENT

320  ALPHA ANGEL                                20,000
 F   ADENA SPRINGS                              GARDINER FARMS LIMITED

321  ALPHA LIGHT                                100,000
 F   ADENA SPRINGS                              DES RYAN

322  APPEALING BEAUTY                           9,000
 M   ADENA SPRINGS                              JIM CARTER

323  APPEALING GREELEY                          - OUT -
 M   ADENA SPRINGS

324  APPEALING MS BLUES                         12,000
 M   ADENA SPRINGS                              BARRY OSTRAGER

325  BACKATEM                                   - OUT -
 M   ADENA SPRINGS

326  BANG UP PLAY                               10,000
 M   ADENA SPRINGS                              C J THOROUGHBREDS

327  BELIEVE BIG BRAN                           75,000
 M   ADENA SPRINGS                              W P STIRITZ

328  BENDING GRASS                              20,000
 F   ADENA SPRINGS                              GARY PICKEL

329  BERMUDA BRIDE                              12,500
 M   ADENA SPRINGS                              THOMAS A CURTIS

330  BETSY BLUE EYES                            23,000
 M   ADENA SPRINGS                              LIBERATION FARM

331  BIRTHDAY WIRE                              13,000
 M   ADENA SPRINGS                              TAYLOR MADE SALES AGENCY, AGNT

332  BLAZING FLAG                               16,000
 M   ADENA SPRINGS                              GRANTON BLOODSTOCK

333  BLOOMING AGAIN                             19,000
 F   ADENA SPRINGS                              LARRY ROMERO

334  CAUGHT FIRE                                35,000
 M   ADENA SPRINGS                              OCCIDENTAL THOROUGHBREDS, AGT

335  CHRISTY'S HERO                             73,000
 M   ADENA SPRINGS                              TERRY LOVINGER

336  CLEVER PROSPECTOR                          20,000
 M   ADENA SPRINGS                              JOSEPH BROCKLEBANK, AGENT

337  CONTINENTAL LEA                            34,000
 M   ADENA SPRINGS                              CHAD SCHUMER, AGENT

338  CORPORATE VISION                           46,000
 M   ADENA SPRINGS                              LIBERATION FARM

339  CUPIDS REVENGE                             75,000
 M   ADENA SPRINGS                              WESTWIND FARM

340  CUTE DEVIL                                 15,000
 M   ADENA SPRINGS                              GEM RACING INC

341  DANCEINTHESTREETS                          18,000
 M   ADENA SPRINGS                              DAN DIXON

342  DANCEOFTHEFLAGS                            22,000
 M   ADENA SPRINGS                              HIDDEN BROOK FARM, AGENT

343  DAYBYDAYBYDAY                              21,000
 M   ADENA SPRINGS                              MADERA THOROUGHBREDS

344  DECLINED AMX                               17,000
 M   ADENA SPRINGS                              R H BREEDING LLC

345  DEMONS CLOUD                               107,000
 M   ADENA SPRINGS                              DOUGLAS S ARNOLD

346  DONEBROKE                                  25,000
 M   ADENA SPRINGS                              MILLER THOROUGHBREDS LLC

347  DONTRUSHTHELADY                            10,000
 F   ADENA SPRINGS                              TAYLOR MADE SALES AGENCY, AGNT

348  DYNAMITE DIABLO                            57,000
 M   ADENA SPRINGS                              BOWLING & DODD

349  DYNAWAVE                                   9,000
 M   ADENA SPRINGS                              LARRY T SMITH

350  FACTS OF WINNING                           135,000
 M   ADENA SPRINGS                              OCALA STUD

351  FESTIVE MADAM                              100,000
 M   ADENA SPRINGS                              LAKLAND LLC

352  FIELD OF GLORY                             180,000
 M   ADENA SPRINGS                              HARTWELL FARM, AGENT

353  FLOWER FLUTTER                             17,000
 M   ADENA SPRINGS                              GARY PICKEL

354  FLYING RENEE                               30,000
 M   ADENA SPRINGS                              A CLARE SILVA

355  FROSTY KISS                                50,000
 M   ADENA SPRINGS                              MCMAHON BLOODSTOCK LLC, AGENT

356  GIRL GUIDE                                 - OUT -
 M   ADENA SPRINGS

357  GO HELEN GO                                6,000
 M   ADENA SPRINGS                              GARY W TUCKER

358  GOLDEN DAYJUR                              13,500
 M   ADENA SPRINGS                              LARRY T SMITH

359  GOLDTOWN BEAUTY                            8,000
 M   ADENA SPRINGS                              MARK ANDERSON

360  GONDOLA (GER)                              - OUT -
 M   ADENA SPRINGS

361  GRAND FAN                                  37,000
 F   ADENA SPRINGS                              MILLER THOROUGHBREDS LLC

362  GREAT WHITE SHARK                          17,000
 M   ADENA SPRINGS                              JAMES W CASEY

363  HEAVENS PASSPORT                           20,000
 F   ADENA SPRINGS                              A CLARE SILVA

364  HOT TOUCH                                  16,000
 M   ADENA SPRINGS                              CHANDLEY FARM LLC

365  LITE IN THE NIGHT                          34,000
 M   ADENA SPRINGS                              THE ELKSTONE GROUP

366  MARY'S SILVER PEN                          65,000
 M   ADENA SPRINGS                              NOBU ARAKI

367  MERCY MISSION                              - OUT -
 M   ADENA SPRINGS

368  MIDDAY FUN                                 18,000
 M   ADENA SPRINGS                              JAMES W CASEY

369  MINERS MIRACLE                             18,000
 M   ADENA SPRINGS                              THOMAS A CURTIS

370  MRSCOPPOLASKITCHEN                         85,000
 M   ADENA SPRINGS                              DORO J STABLES, AGENT

371  PLAYTIME                                   8,000
 M   ADENA SPRINGS                              LARRY T SMITH

372  PROVOLETA                                  22,000
 F   ADENA SPRINGS                              TONY BOWLING





            11/11/04

              HEAD                         NOT
      DATE    SOLD       AMOUNT  AVERAGE  SOLD    MEDIAN

    11/11/04    66    2,252,500   34,129          19,500


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