In this paper, we apply extended regularized channel inversion precoding to address the multiuser multiantenna downlink transmission problem. Different from conventional regularized channel inversion precoding, extended RCI precoding considers non-homogeneous channels, adjusts more regularization parameters, and exploits the information gained by inverting the covariance matrix of the channel. Two ways of determining the regularization parameters are investigated. First, the parameters can be determined by solving a max-min SINR problem. The constraints of the problem can be transformed to the second-order cone (SOC) constraints. The optimal solution of the problem can be obtained by iteratively solving a second-order cone programming (SOCP) problem. In order to reduce the computational complexity, a one-shot algorithm is proposed. Second, the sum-rate maximization problem is discussed. The simple gradient-based method is used to solve the problem and get the regularization parameters. The simulation results indicate that the proposed algorithms exhibit improved max-min SINR performance and sum-rate performance over RCI precoding.