TIM FINCHEM Commissioner, PGA TOUR Chairman, World Golf Foundation “The Opportunity and the Vision” Commissioner, PGA TOUR Chairman, World Golf Foundation “The Opportunity and the Vision”

STAKEHOLDERS Golf AssociationsGolf Associations Equipment ManufacturersEquipment Manufacturers Turfgrass IndustryTurfgrass Industry Course Owners & OperatorsCourse Owners & Operators PGA/LPGA InstructorsPGA/LPGA Instructors Pro ToursPro Tours Public SectorPublic Sector USGA Member ClubsUSGA Member Clubs Architects & BuildersArchitects & Builders Golf MediaGolf Media International Broadcast MediaInternational Broadcast Media

43.3%* Pro Golf Fan Base INTEREST: Source: ESPN Sports Poll, *June 2000 Note: Estimated Percent Interested in Golf 20.1%

69.3%* 43.3%* INTEREST: COMPARISON Source: ESPN Sports Poll, *June 2000 Note: Estimated Pro Golf and NFL Fan Bases, Percent Interested in Sport 20.1% 69.6%

GROWTH OF GOLFERS SINCE 1950 Arnold & Jack on TV Millions of Golfers Source: National Golf Foundation Recession, declining income Baby boomers coming of age Tiger Woods emerges

PARTICIPATION: Million Source: NGF (Estimated) Participants Millions of Participants 23.2 Million

PARTICIPATION: DEFINITIONS Committed Golfers (8+ rounds per year) 13.7 millionCommitted Golfers (8+ rounds per year) 13.7 million Infrequent Golfers (1-7 Rounds)10.6 millionInfrequent Golfers (1-7 Rounds)10.6 million Junior Golfers 3.4 millionJunior Golfers 3.4 million Range Users 7.7 millionRange Users 7.7 million Total: 35.4 millionTotal: 35.4 million

PARTICIPATION: ROUNDS million Total Rounds Played 1,2001, Millions of Rounds Source: NGF Note: Estimated 295 million

68% VISION: INTEREST LEVELS 43.3%* Source: ESPN Sports Poll, *June 2000 Note: Estimated Pro Golf Fan Base % Percent Interested in Golf

69.3%* 68% VISION: COMPARISON 67% 43.3%* Source: ESPN Sports Poll, *June 2000 Note: Estimated Pro Golf and NFL Fan Bases % 20.1% Percent Interested in Sport

VISION: PARTICIPATION % Ave. Annual Growth 35.4 million 55.4 million Source: NGF (Estimated) Participants Millions of Participants 23.2 million

VISION: ATTRACTION & RETENTION 3.0 Million 3.5 Million 2.5 Million

VISION: ROUNDS % Ave. Growth 2.8% Ave. Growth 570 million 1 billion Total Rounds Played 1,2001, Millions Source: NGF Note: Estimated 295 million

TARGETED INTEREST: RACE 1995 Race of Professional Golf Fans Source: ESPN Sports Poll – Based on Ave. Jan-July 8% 89% 2% 1% 1%

TARGETED INTEREST: RACE 2000 Race of Professional Golf Fans Source: ESPN Sports Poll – Based on Ave. Jan-July 12% 77% 8% 1% 3%

TARGETED INTEREST: WOMEN High 36.6% Female Fan Base, Source: ESPN Sports Poll Low: 20.9%

TARGETED GROWTH: AGE Percentage Interest Growth, 2000 V Source: ESPN Sports Poll AGE AGE % +16.7%

INTEREST FOCUS TelevisionTelevision The InternetThe Internet InteractivityInteractivity ConnectivityConnectivity

PARTICIPATION FOCUS Link Up 2 GolfLink Up 2 Golf The First TeeThe First Tee Youth GolfYouth Golf College OpportunitiesCollege Opportunities Facility DevelopmentFacility Development

GOALS Fan Base43.5%68% (96 million)(177 million)Fan Base43.5%68% (96 million)(177 million) Participants35.4 million 55.4 millionParticipants35.4 million 55.4 million Total Rounds570 million 1 billionTotal Rounds570 million 1 billion

Sunday Wrap-up Slides 23-24

GOLF 20/20: OBJECTIVES FOR 2001 Conduct appropriate consumer and segmentation research and analysisConduct appropriate consumer and segmentation research and analysis Assemble an industry fan base task force to develop a strategy on using the Internet, interactivity and other technology vehiclesAssemble an industry fan base task force to develop a strategy on using the Internet, interactivity and other technology vehicles Support the mission and goals of The First TeeSupport the mission and goals of The First Tee Create a junior golf task force charged with developing and implementing a communications and audit strategyCreate a junior golf task force charged with developing and implementing a communications and audit strategy

GOLF 20/20: OBJECTIVES FOR 2001 Additional research at the college levelAdditional research at the college level Conduct analysis of successful alternative facilities and their impact on the golf economyConduct analysis of successful alternative facilities and their impact on the golf economy Develop a program, implementation and pilot strategy for a nationwide “Link Up” programDevelop a program, implementation and pilot strategy for a nationwide “Link Up” program (Continued)