ATP European Headquarters, Monte-Carlo, Monaco – The ATP, governing body of the men’s professional tennis circuit, has approved the use of a dual Euro/U.S. dollar currency system for payments by all ATP level tournaments. The ATP Board approved the new system, set to begin in 2003, at recent meetings held in Moscow, Russia.

The move from a U.S. dollar-only system highlights the unique global nature of tennis as well as the strength and acceptance of the Euro on the international stage.

‘Among tennis’ traditional strengths has been its global nature and popularity throughout Europe,’ said ATP Chief Executive Officer Mark Miles. ‘We believe the adoption of a dual currency system is a reflection of our sport’s international appeal, which continues to grow in Europe and around the globe.’

Next year, the ATP will publish prize money lists in both U.S. dollars and Euros. Tournaments within the European region will pay prize money in Euros while U.S. tournaments will pay in U.S. dollars. All other tournaments will choose by the end of this month whether to pay in either U.S. dollars or Euros in 2003.

In transition, any tournament held during the first quarter of 2003 may elect to pay in U.S. dollars, and the ATP’s two United Kingdom tournaments may pay in U.S. dollars for 2003 only.

For 2003, the U.S. dollar will be converted at a 1-to-1 rate into Euros. This conversion rate will be reviewed annually and only changed if the average U.S. dollar/Euro exchange rate fluctuates by more than 5%. This calculation will be made using daily average exchange rates for the
12-month period ending July 31 each year.

For more information, please visit www.ATPtennis.com or contact:

Nicola Arzani, ATP Director of Communications, Europe +377-97-97-04-04; narzani@atptennis.com
J.J. Carter, ATP Director of Communications, Americas 904/285-8000, jcarter@atptennis.com
Alison Lee, ATP Director of Communications, International Group +61-2-9964-9900; alee@atptennis.com