Ken LovellVP, Research & DevelopmentVP, Research & Development

PGA TOURPGA TOUR

PROGRESS

78

91 95 99103

107

78

91

103 104 107 106

1999 2000 2001 2002 2003 2004

Projected Fans Actual Fans

Source: ESPN Sports Poll; US Census

Actual versus Projected Fans(Millions)

Fan Base GrowthFan Base Growth

GROWING INTEREST IN PROFESSIONAL GOLF

22.0% 21.2%18.5%

16.1%

32.1%

36.4%

Pro Golf NASCAR NBA NFL MLB NHL

Source: ESPN Sports Poll; US Census

2004 versus 1999 Fan Base Change(Based on Total Number of Fans)

Fan Base GrowthFan Base Growth

Percentage Increase Interested In GolfPercentage Increase Interested In Golf

• 31% Increase in African 31% Increase in African American FansAmerican Fans

• 47% Increase in Hispanic Fans47% Increase in Hispanic Fans

• 25% Increase in Female Fans 25% Increase in Female Fans

GROWTH IN KEY SUBGROUPS

Source: ESPN Sports Poll

Fan Base GrowthFan Base Growth

Fan Base GrowthFan Base Growth

US Population Interested in Professional GolfUS Population Interested in Professional Golf

2004 v. 1999 2004 v. 1999

• 19% Increase among Males19% Increase among Males• 31% Increase among Adults Aged 45-54 31% Increase among Adults Aged 45-54 • 44% Increase among Adults Aged 55-6444% Increase among Adults Aged 55-64• 34% Increase among Adults Aged 65+34% Increase among Adults Aged 65+

Source: ESPN Sports Poll; US Census

CORE FANS ALSO GROWING

Source: Market Tools, 2004

IMAGE IS A STRENGTH VERSUS COMPETITION

Image Supports ProgressImage Supports Progress

93.7

86.5 85.379.9

59.4

49

PGATOUR

NASCAR NFL MLB NHL NBA

% of US Saying Sport’s Image Is Positive

Source: Market Tools, 2004

ATHLETES ARE KEY AMBASADORS

36.1

61.1

71.873.1

88.0

94.2

PGA TOUR NASCAR MLB NFL NHL NBA

% of US Saying Sport Provides Good Role

Models

Image Supports ProgressImage Supports Progress

NUMBER OF OFFICIAL MARKETING PARTNERS UP 44% SINCE 2002

22

32

4143

46

2000 2002 2003 2004 2005Source: PGA TOUR

Increasing Interest in the PGA TOURIncreasing Interest in the PGA TOUR

Increasing Interest in Domestic& Global Fortune CompaniesIncreasing Interest in Domestic& Global Fortune Companies

• 14% increase in Fortune 500 14% increase in Fortune 500 Companies since 2002Companies since 2002

• 28% increase in Fortune 100 28% increase in Fortune 100 Companies since 2002Companies since 2002

• 40% increase in Global Fortune 500 40% increase in Global Fortune 500 Companies since 2002Companies since 2002

• 32% increase in Global Fortune 100 32% increase in Global Fortune 100 Companies since 2002Companies since 2002