TROON GOLF FINISHES STRONG IN 2001

Scottsdale, Arizona – Troon Golf, the world’s leading luxury golf management, development, and marketing company, is pleased to report a strong fourth quarter finish to an outstanding year. Troon Golf showed the determination to remain focused and expand its high quality products and services to new markets in Nevada and Wisconsin, as well as internationally in the Middle East and Dominican Republic.

“As we continue to realize our global vision for Troon Golf, we are extremely grateful to rely on the talent and drive of our dedicated associates to elevate this great team,” stated Troon Golf Chairman and Chief Executive Officer, Dana Garmany. “Their efforts and dedication have placed Troon Golf amongst the three largest management companies in the world, and the only one to specialize in high-end properties.”

The optimistic forward drive to build and strengthen Troon Golf reflects the company’s resiliency and resolve in times of uncertainty. A buoyant fourth quarter further confirms Troon Golf’s commitment to generate positive financial results for its clients and create opportunities for employment and career advancement within the company.

“The Troon Brand and our loyal customer base continually prove to be the reason our clients select us over the competition,” said Garmany.

Fourth quarter Troon Golf acquisitions

Del Webb’s Anthem Country Club – Las Vegas, Nevada, and Anthem Golf & Country Club – Phoenix, Arizona The decision to engage Troon Golf to oversee the two premier Anthem golf facilities in Nevada and Arizona represents Del Webb’s most recent mission to maximize profitability and efficiency and provide golf experiences concurrent with their upscale clientele.

Giants Ridge Golf & Ski Resort – Biwabik, Minnesota Troon Golf will manage the present Giants Ridge Golf Course and oversee construction now underway on the second course, The Quarry at Giants Ridge, as well manage food and beverage operations for the Giants Ridge Winter Sports Chalet.

Horseshoe Bay Farms Golf Club – Egg Harbor, Wisconsin The renowned TROON GOLF EXPERIENCE makes its debut in the Wisconsin golf market at the historic golf property near Egg Harbor on the “thumb” overlooking Green Bay. Troon Golf will help fulfill the Frank Murphy Cowles family dream of presenting the 100-year old orchards of Horseshoe Bay Farms as a superlative golf destination.

CapCana – The Dominican Republic Grupo del Caribe, one of the largest development groups in the Caribbean Islands, contracted Troon Golf to oversee the construction of three Jack Nicklaus Signature golf courses and manage all golf club operations after the first Cap Cana course opens in 2002. The golf courses are the focal point of the multi-billion-dollar, 30,000-acre world-class resort under development on the eastern tip of the island.

Phoenix Seagaia Resort – Miyazaki City, Kyushu, Japan Ripplewood Holdings LLC is recreating Phoenix Seagaia Resort as a convention and leisure resort complex that will help revitalize the tourism economy along the historic Hitotuba coast. Troon Golf will manage the resort’s four existing golf clubs: Phoenix Country Club, Phoenix Kogen (Highlands) Country Club, Tom Watson Golf Course, and the Kitago Phoenix Country Club.

Emirates Hills Golf Club – Dubai, United Arab Emirates Quickly becoming one of the world’s most desirable addresses. Emirates Hills is the newest jewel of the desert, with close proximity of Dubai’s economic growth area. Designed by master architect Desmond Muirhead, in conjunction with Colin Montgomerie, the new championship golf course has several notable features including the world largest putting green. The 13th hole, an island par three, has a manicured putting surface of over one acre.

Fourth quarter Troon Golf staff additions
Mr. Richard L. Trueblood, Executive Vice President and Chief Financial Officer – Trueblood comes to Troon Golf from his previous positions with Heritage Property Investment and the Promus Hotel Corporation, following his 23-year tenure with KPMG – Peat Marwick LLP.

Mr. Darrell Morgan, Vice President, Operations – In his first year with Troon Golf, Morgan moves from General Manager of Shadow Lakes Golf Club in Brentwood, California to his present position. Previously, Morgan spent 13 years with Marriott Golf, and four years in Las Vegas, Nevada as Director of Golf Operations with the In Celebration of Golf/Walters Group.

Ms. Rachel Williamson, Director of Marketing – Williamson recently relocated from Scotland to assume duties with Troon Golf. Formerly the Sales and Marketing Director for Starwood Hotels, her properties included The Westin Turnberry Resort and Sheraton Grand Hotel Edinburgh in Scotland. In her new role, Williamson’s focus will be to oversee marketing of Troon Golf’s international properties.

Mr. Mark Holland, Operations Director, Australia/Pacific Division – Holland brings an impressive work history in the golf and hospitality industry throughout the southern hemisphere. Holland’s background includes multiple stints as general manager for prestigious golf clubs in Australia, Indonesia, and the Middle East. In his new position, Holland will oversee all operations and manage transition activities for the Troon Golf team in Australia and surrounding countries.

Mr. Jay McGrath, Vice President, Senior Corporate Counsel – McGrath brings an extensive background in business acquisition and real estate law. He earned his law degree from the University of Kansas School of Law. Most recently, McGrath served with Foulston & Siefkin LLP, located in Wichita, Kansas, serving in real estate transactions for a well-known hotel chain.

Mr. John Gasper, Director of Agronomy, Japan Division – Gasper contributes his quality education and vast work experience to oversee maintenance procedures at Troon Golf properties in Japan. Gasper received his Master of Science – Agronomy degree from Ohio State University, Columbus, Ohio and held prominent positions with Ridgewood Country Club, Paramus, New Jersey, Oak Hill Country Club Rochester, New York, Oak Tree Country Club, Edmond, Oklahoma, and most recently, The Country Club of the Desert, La Quinta, California.

Based in Scottsdale, Arizona, Troon Golf represents over 110 management and development contracts in 21 states and 10 countries. Troon Golf properties include venues such as The Westin Turnberry Resort, Ayrshire, Scotland; Waikoloa Beach Resort, Kohala Coast, Hawaii; The Golf Club Kennedy Bay, Perth, Australia; Fish Creek Golf Club, Houston, Texas; Whirlwind Golf Club, Gila River, Arizona; Carmel Valley Ranch, Carmel Valley, California; and Paradise Village Golf & Country Club, Puerto Vallarta, Mexico.