Company Update Archive June 17, 2008 Thank you partners and staff, friends and family, and Big Brown Michael Iavarone, IEAH Co-President and CEO, reflects on Big Brown, Belmont Stakes Day, and more.  Full Story December 05, 2007 Letter from the president Michael Iavarone, Co-President and CEO of IEAH, looks back and ahead on IEAH Stables and IEAH Corporation's Ruffian Equine Hospital at Belmont Park.  Full Story

     As 2007 winds down and IEAH Stables' vigorous racing schedule has somewhat slowed, it has given me a chance to reflect on a sensational year. In only our fourth full year of operation, IEAH Stables has become one of the most established names in Thoroughbred racing. With a month of racing still ahead, IEAH Stables has yearly purse earnings of $4 million in sight. The gross purses earned places us in the top 10 in North America. In 2007, we have won three Grade 1 stakes races and 10 stakes overall. We have had our runners achieve stakes placings in 23 different races and an amazing seven Grade 1 placings with four different horses. We raced in prestigious Grade 1 races such as the Carter, Woodbine Mile, Princess Rooney, and Forego. We were fortunate enough to win two graded stakes races at the prestigious Saratoga meet and had two horses cross the finish line first in stakes races on Empire Classic Day at Belmont Park.
     We have seen our stable grow to more than 75 horses while considerably upgrading our overall stock. On Breeders' Cup weekend, we took the racing game by storm when we had the incredible fortune of having three Breeders' Cup participants. Our Grade 1-placed Shaggy Mane ran seventh in the Breeders' Cup Filly and Mare Sprint over a sloppy racetrack she did not relish. Benny the Bull, our Grade 1 winning sprinter, trailed all early in the Breeders' Cup Sprint then rallied to finish fourth while beaten just more than four lengths for second money. We certainly saved the best for last, when Kip Deville etched our name in racing history by winning the 24th Breeders' Cup Mile, seen live on ESPN. Kip Deville, a modest-priced acquisition, stamped himself as the top turf miler in the world and a serious stallion prospect. The excitement didn't stop there, as just four weeks later, Benny the Bull would mark himself as one of the best sprinters in the world by winning the Grade 1 DeFrancis Memorial Dash at Laurel Park. His Grade 1 victory makes him the fourth different Grade 1 winner currently owned by IEAH Stables. The others are Wonder Lady Anne L, Kip Deville, and Irish Smoke. Only Wonder Lady Anne L will not return for a 2008 campaign, as she is currently a top broodmare prospect in foal to Giant's Causeway.
     Although the bar has been set very high, prospects for 2008 are even better. In 2008, we have Kentucky Derby, Kentucky Oaks, and Breeders' Cup aspirations, and intend to create new and exciting forms of equine investment as we will look to take our patriotic silks to even higher levels.
     Factor in the construction currently well under way on the Ruffian Equine Hospital at Belmont Park, and the prospects look better than ever. We are expecting an opening in early-2008 and the facility will be aesthetically spectacular. We have had the good fortune of working with some of the most highly respected names in construction and their professionalism and dedication to the project has been tremendous. Once open, we have assembled the finest practitioners in equine healthcare, headed by Dr. James Hunt and Dr. Patricia Hogan.
     I would be remiss if I didn't acknowledge certain individuals for their overwhelming support. In particular, James Tagliaferri, president of TAG Advisory Group, for his financial support and his continual expert advice; Andy Cohen, for his many introductions, financial support, and support he shows our stable at the races - not the least of which includes dressing in our silks after stakes victories; as well as Sanford Robbins, John Roberts, and all of the staff at IEAH deserve much of the credit for our success.
     In closing, 2008 promises to be an exciting year as we plan to provide shareholder liquidity, new and exciting opportunities for investment, the opening of the Ruffian Equine Hospital, and Derby Dreams. I urge all to continually monitor our progress through our website at www.IEAH.com. I will also be providing updates on a quarterly basis as we are at an exciting stage of our development.


                         Until next time,

                         Michael Iavarone
                         IEAH Co-President and CEO