1. Participating organisations. The Asian Mile Challenge is a series of races conducted by the participating organisations. In 2010, the participating organisations are:
• Melbourne Racing Club (MRC) • Dubai Racing Club (DRC)
• The Hong Kong Jockey Club (HKJC)      • The Japan Racing Association (JRA)

2. Asian Mile Challenge races. The Asian Mile Challenge consists of a series of races within one calendar year. In 2010, the Asian Mile Challenge consists of the following races:
• First Leg: Futurity Stakes (MRC)           • Second Leg: Dubai Duty Free (DRC)
• Third Leg: Champions Mile (HKJC)        • Fourth Leg: Yasuda Kinen (JRA)

3. Nominations for the Bonus. Race nominations* will be made in accordance with the  
conditions set out in the prospectus for each race as determined by the respective    
participating organisation. A horse may be nominated for any one or more races. A horse
that is nominated for the Challenge Bonus must also be nominated to individual Challenge
Race. Nominations for the Challenge Bonus will close in four stages, as follows:

Free Nominations:             19 January 2010**
First Late Nominations:      24 February 2010 (Fee: US$50,000)
Second Late Nominations: 22 March 2010     (Fee: US$50,000)
Third Late Nominations:    22 April 2010       (Fee: US$50,000)

*Refer to the conditions for each race for closing dates detail.  
** Horses nominated before Tu