South Florida Golf Foundation Initiates Search for New Title Sponsor of Genuity Championship; Internet Infrastructure Company Ends Tournament Sponsorship

Contact Neil Stratford
Mastro Communications, Inc.
732-469-5700
or John Vincenzo
Genuity, Inc.
781-865-5468

MIAMI (April 16, 2002) - The South Florida Golf Foundation, which organizes and oversees The Genuity Championship, has formally initiated a search for a new title sponsor to replace Genuity Inc.

"We are disappointed to lose Genuity as the title sponsor, as they clearly helped to bring new energy and ideas to the tournament," said Thomas F. Neville, tournament director. "However, the visibility and television ratings for the tournament have grown tremendously over the past two years, and I am very confident that we will line up an equally enthusiastic sponsor to take over this premier PGA TOUR event."

Genuity had been the title sponsor since 2001, with the tournament becoming one of the largest events and richest purses on the PGA Tour. The strength of field was one of the strongest of the year, helping to nearly double television ratings over last year. Attendance for the week increased 30 percent from 2001, tying previous records at 125,000. The tournament was won by Ernie Els, holding off a strong challenge from the world number one, Tiger Woods.

Each year the tournament also donates a percentage of the proceeds to various South Florida charities, including the American Cancer Society and the Boys and Girls Club. In addition to the contributions to be made this year by the tournament, Genuity will be contributing an additional $50,000 to the American Cancer Society as a goodwill gesture.

"The Genuity Championship proved to be a highly effective way for us to increase brand recognition and build relationships with our customers and partners, and we enjoyed working with the South Florida Golf Foundation to help take this tournament to a new level," said Jim Freeze, senior vice president, chief marketing and strategy officer at Genuity. "As part of our larger marketing program, this sponsorship helped advance us toward our business objectives. Now, given the current economic climate, we will build on the momentum we've gained from hosting the tournament by implementing smaller, more focused programs."

The annual PGA TOUR event takes place at the Doral(R) Golf Resort and Spa(TM) in Miami. It is the first tournament to take place on the East Coast each spring. The tournament for 2003 will mark the 41st year for the event. The dates for 2003 are March 1-9.