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PGA TOUR Statement re: Kemper Open Contact Bob Combs (April 15, 2003) - The PGA TOUR and Kemper Insurance today jointly announced that Kemper is withdrawing as sponsor of the PGA TOUR's Kemper Open, effective with the 2003 tournament. Kemper Insurance had sponsored the Kemper Open since 1968. The challenging state of the current economic conditions facing Kemper has necessitated adjustments to the company's business priorities, including termination of its sponsorship relationship with the TOUR. Both parties share the hope that Kemper will again have an association with the TOUR at some point in the future when its business strategies permit. The 2003 event, to be called the Capital Open at Avenel, will be played as scheduled, June 2-8, at the TPC at Avenel in Potomac, Maryland. As originally announced, the tournament will offer a $4.5 million purse, and will be telecast by USA/ABC. The tournament will be operated by Kemper Sports Management, a company unaffiliated with Kemper Insurance, which has operated the event since 1979. The PGA TOUR, with the assistance of Kemper Sports Management, is in discussion with several prospects for title sponsorship of the event. |