04/05/2002 1:00AM

Familiar colors win at Keeneland

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LEXINGTON, Ky. - The last time the red-and-yellow silks of Fusao Sekiguchi were carried in a horse-race in Kentucky was May 2000, when Fusaichi Pegasus won the Kentucky Derby.

On Friday, as Keeneland Race Course opened its 16-day spring meet before an ontrack crowd of 14,879, Sekiguchi was the winning owner in the feature race, the $100,000 Transylvania Stakes.

The Transylvania winner, a German import named Flying Dash, could make his next start in the May 4 Kentucky Derby, although trainer Neil Drysdale, who also trained Fusaichi Pegasus, was non-committal about whether that will happen.

Earlier this week, Sekiguchi's daughter-in-law, Yukari, who serves as a family spokeswoman, said by e-mail that if Flying Dash ran well in the Transylvania, the colt "will challenge for the roses."

After Flying Dash rallied from sixth to prevail by 2 1/2 lengths over Back Packer in the Transylvania, a one-mile turf race, Drysdale was asked whether he would seriously consider the Derby. Flying Dash, who came into his care in late December, has never raced on dirt, and the Transylvania was his first start around two turns and only his fourth overall.

"He certainly trains well on dirt," said Drysdale. "I don't know. We've got a lot of options."

Drysdale said Flying Dash will be sent in several days to train at Churchill Downs.

Flying Dash, ridden by Jerry Bailey, paid $9.60 after finishing in 1:35.69 over a firm course. Back Packer, a 13-1 shot, was second, another 1 1/2 lengths ahead of Political Attack. Stage Call, the 7-5 favorite in a field of eight, was another half-length back in fourth.

Bailey and Mark Guidry both had two winners on the card, as did trainer Elliott Walden.