GRACE PARK PARTNERS WITH TROON GOLF AT THE RIDGE AT CASTLE PINES NORTH

Posted on January 7, 2004

Scottsdale, Ariz. — Troon Golf,® in partnership with LPGA Tour sensation Grace Park and family, is pleased to announce the acquisition of The Ridge at Castle Pines North in Castle Rock, Colorado. As the world leader in upscale golf course management, development, and marketing, Troon Golf is excited to be a part of the new ownership group and will continue to provide world-class golf experiences at this highly acclaimed facility for years to come.

Grace’s father, Soo Nam Park, a successful and highly respected restaurateur and foods distributor in Korea, recently partnered with Troon Golf to purchase The Ridge as a family asset in support of Grace’s accelerating career in professional golf and business. Working closely with Troon Golf, the Park family acquired this spectacular, award-winning property, and, pursuant to a long-term management contract, has entrusted Troon Golf to manage all club operations and secure their investment.

“Grace and her family are very excited about their new partnership with Troon Golf,” stated Charlie Parker, Manager and Spokesman for Grace Park in the United States. “The company’s many years of involvement at The Ridge at Castle Pines North figured prominently in Grace’s decision to take this tremendous leap into club ownership.”

A Phoenix resident, Grace Ji-eun Park was born in Seoul, Korea in 1979 and took up golf at age eight. Serving as an ambassador for the property, Grace will balance her presence at The Ridge with her active Tour schedule, while her sister Lisa Park will assume ownership responsibilities on behalf of the family. Mr. Park will undoubtedly lend his experience to food and beverage matters, Parker added.

The Parks are a close-knit Korean family with strong interests in golf. Surprised by Grace’s talent at a young age, her parents arranged for Grace to move to Hawaii in 1990 to live with her Aunt so she could focus on competitive training and future opportunities that would drive the budding junior player to greater heights. Following her stay in Hawaii, Grace moved to Arizona in 1992 where the young champion began her march on the national junior, women’s amateur, and collegiate scene. She played on the golf teams of Xavier Prep, Horizon High School, and Arizona State University before turning professional in 1999 following the U.S. Women’s Open. Park won her first Tour event in 2000 and has since carded three more victories. She recently crossed the $3 million mark in career earnings during the 2003 season.

“Troon Golf is extremely honored to partner with the Park’s in the purchase of The Ridge, and we are anticipating a long and mutually beneficial relationship,” stated Troon Golf Executive Vice President, Acquisition & Development, Tim Schantz. “We were very careful in looking for the right party to work with on this transaction and feel like we found a perfect match. We look forward to working with Grace and her family. Their special involvement in this magnificent property will only amplify the experience for the guests and members of The Ridge at Castle Pines North.”

A premier Troon Golf property since 1997 and located 30 miles south of Denver, The Ridge at Castle Pines North provides a premier upscale daily-fee experience set along Colorado’s famed Front Range. The Tom Weiskopf design has been recognized by Colorado’s leading golf publications as the #1 upscale public facility in the state and GOLF Magazine currently ranks The Ridge #66 on its national “Top 100 You Can Play” list.

Headquartered in Scottsdale, Arizona, Troon Golf manages operations at more than 140 courses located in 23 states and 12 countries. Additionally, 28 Troon Golf facilities enjoy a Top 100 ranking by national or international publications. Troon Golf properties include The Westin Turnberry Resort, Ayrshire, Scotland; Legend Trail Golf Club, Scottsdale, Ariz.; Eagle Glen Golf Club, Corona, Calif.; The Diplomat Country Club & Spa, Hallandale Beach, Fla.; Elkhorn Golf Club, Sun Valley, Idaho; Phoenix Country Club, Miyazaki, Japan; and The Grove, London, England.