TROON GOLF ANNOUNCES A ROBUST FIRST-HALF 2003

Scottsdale, Ariz. – Steady growth through the first half of 2003 reaffirms the worldwide trust endowed in Troon Golf^® to produce positive financial results for its clients, and provide sensational club experiences at each Troon-managed facility. Steadfast in its mission and focus, Troon Golf, the world leader in luxury golf management, development and marketing, added 13 new golf clubs, course developments, and private facilities to its esteemed portfolio, extending the company’s versatility to new markets worldwide.

“As our global vision for Troon Golf continues to unfold with each new property, we feel very grateful for the talent and drive our dedicated associates display to elevate this great team,” stated Troon Golf Chairman and Chief Executive Officer, Dana Garmany. “Through their commitment, and with the trust of our partners, Troon Golf effectively operates as the only golf management company that solely focuses on the separate needs of high-end luxury golf properties and developments.”

Introducing the New Troon Golf properties for 2003:

Corte Bella Golf Club, Sun City West, Ariz. – This Pulte Homes’ first active adult country club community will feature an unparalleled private club experience for homebuyers looking for easy-going comfort in an exclusive home development. Troon Golf will present superlative playing and service standards in manner that melds with their more relaxed outlook toward private membership.

The Diplomat Country Club & Spa, Hallandale, Fla. – Situated in the quaint and historic community of Hallandale, Fla., along the beautiful South Florida beaches between Miami and Fort Lauderdale, The Diplomat is a member of the Starwood Hotels and Resorts Worldwide, Luxury Collection. The club combines the sedate traditions of an older establishment with modern resort luxury and comfort, where Troon Golf will provide its upscale services in the tranquil setting.

Elkhorn Golf Club, Sun Valley, Idaho – Set in America’s most venerable ski capital, Sun Valley, Idaho, Greenfield Partners have contracted Troon Golf to manage golf operations and begin a major restoration that will once again present the golf course in its original luster. Situated at the base of Sun Valley’s most prominent landmark, Dollar Mountain, the Elkhorn layout marks the final father-son collaboration in 1976 of Robert Trent Jones, Sr. and Robert Trent Jones, Jr.

Lake of Isles at Foxwoods Resort & Casino, Mashantucket, Conn. – Troon Golf is partnering with the Mashantucket Pequot Tribal Nation to oversee this new and sensational facility currently under development by Foxwoods Resort and Casino – the world’s largest casino operation. Scheduled to open late 2004, Lake of Isles will feature two classic-style courses by the inimitable Rees Jones. Additional plans for Lake of Isles include a Troon Golf Academy and eight golf rental villas.

Ocotillo Golf Resort, Chandler, Ariz. – The Ocotillo Companies entered into a long-term contract with Troon Golf to help complete their long-range vision and oversee operations for this extraordinary 27-hole parkland oasis. Built in 1986 as an idyllic complement to desert-style golf, Ted Robinson’s design of three striking nine-hole layouts that wind through 95 acres of lakes and cascading water features is truly one-of-a-kind for Arizona golf.

The Peninsula Club, Millsboro, Del. – Troon Golf is partnering with the Odyssey Development Group in the creation of the first upscale, private gated community in the state of Delaware, which will open in 2005. Set in Sussex County near Rehoboth and Bethany, Jack Nicklaus’ Signature golf course (his first in Delaware) will incorporate almost five miles of mid-Atlantic shoreline, plus a myriad of inland ponds and waterways.
TPC Snoqualmie Ridge, Snoqualmie, Wash. – Troon Golf joins with the Weyerhaeuser Real Estate Company to manage TPC Snoqualmie Ridge, a master-planned community which features the only Jack Nicklaus Signature course in the greater-Seattle/Puget Sound area. Set in the small town of Snoqualmie, 26 miles from Seattle, and considered the best course in all of Washington, Snoqualmie Ridge is also a certified participant in the Audubon Cooperative Sanctuary Program.

The Traditions Club, Bryan, Tex. – Troon Golf is again collaborating with The Melrose Company to create The Traditions Club, the prime amenity in this privately developed residential golf community. The private club will jointly support Texas A & M University and the municipality of Bryan, Texas. Co-designed by Jack Nicklaus and his son, Jack Nicklaus II, the golf course will open in late summer 2003. The Traditions Club also will feature an expansive state-of-the-art practice and learning facility, complete with offices, classrooms, and two full-scale practice holes. The new golf course will serve as the home for all Texas A & M golf programs.

Bearwood Lakes Golf Club, London, England – One of England’s most exclusive members-only clubs – and easily Great Britain’s most desirable address for golf – joins Troon Golf as a Privé, Private Club of Distinction. Situated in close proximity to Windsor Castle in the Royal County of Berkshire, Bearwood Lakes will soon offer a limited number of international memberships.

Stonequarry Golf Club, New South Wales, Australia – Troon Golf is partnering with Sydney’s leading developer, Bradcorp, to oversee golf operations and share in the vision of this very unique development, which features an immaculate championship golf course, a world-class hotel and spa, and superb residential options to include apartments, villas and a limited number of custom homesites.

Twin Creeks Golf Club, Queensland, Australia – Twin Creeks is an 18-hole Graham Marsh design located 45 minutes west of Sydney in the suburb of St. Mary’s. Golf course construction is due to start early August and is due for completion in mid-2005. The clubhouse will be built and fully functional for the course opening.

Kooindah, Wyong, Australia – Kooindah is a new deal in the beginning stages of development that is located just north of Sydney. Troon Golf has been contracted to manage the golf operations to ensure this new facility will be privy to upscale course conditions and first-class customer service from its inception.

Costa Palma, Sinaloa, Mexico – This exciting new project is in the early development stages located on the Pacific Coast in central Mexico. The property will be home to two golf courses as well as two hotels, a residential community and a marina.

Headquartered in Scottsdale, Arizona, Troon Golf manages operations at more than 140 courses located in 26 states and 11 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; Whirlwind Golf Club at Wild Horse Pass, Gila River (Phoenix), Ariz.; Maderas Golf Club, San Diego, Calif.; Branson Creek Golf Club, Branson, Mo.; Rose Creek Golf Club, Edmond, Okla.; The Ridge at Castle Pines North, Castle Rock, Colo.; Huntingdale Golf Club, Victoria, Australia; and The Grove, London, England.