Hong Kong, August 26, 2003: As a non-profit sporting association, the foremost goal of the Asian PGA is to safeguard and enhance the interest of its membership and to assist with the continued development of the game of golf in Asia. Regrettably, it has been found that these objectives are not presently being met through the current operating structure and association with its commercial and marketing partner, Asian PGA Tour Limited (ATL). As such, it has been decided to terminate the relationship with ATL effective 23rd August 2003.

The Asian PGA and its members welcome this re-organization, which will bring its operations in-line with other major international golf tours by centralizing all sanctioning and commercial issues in-house. This is a positive move that will help safeguard and develop the careers of the Asian PGA membership away from third party interests and ensure the healthy growth of the Asian PGA Tour in the future.

For further enquiries please contact:

Marlene Lee
Managing Director, Hong Kong and China
Octagon Greater China
Tel: (852) 2534 5018 Fax: (852) 2598 6205
e-mail: marlene.lee@octagon.com