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Golf Legends Arnold Palmer and Gary Player to Return as Team Captains

| Media Releases Americas

NEW YORK -- The United States will defend its UBS Warburg Cup title on the spectacular Seaside Course at Sea Island Golf Club on St. Simons Island in Georgia, November 14-17.

United States captain Arnold Palmer and The Rest of the World captain Gary Player will return to skipper their respective 12-man teams in the $3 million Ryder-Cup style format event sanctioned by The European Seniors Tour. Each team consists of six 40-49-age players and six over-50 players.

"I am honored to return to lead the U.S. team," said Palmer, who overcame Player 2 & 1 in the first singles match of the final day. "Last year's competition was as tough and as exciting as you could get. It was a week of camaraderie with good clean competition and great golf. The matches came down to two pressure putts, one by Mark Calcavecchia at 17 and the other by Raymond Floyd at 18."

"Although we ended up on the short end last year, I'm already plotting to gain revenge against my good friend, Arnold Palmer and the U.S. team," said Player. "The first UBS Warburg Cup at Kiawah Island was just unbelievable. We had the best golfers in the U.S. challenging the best international players. It made for a spectacular week of golf and one that the two teams will treasure."

"Arnold Palmer and Gary Player and their respective teams put on quite a show last year," said Rory Tapner, Managing Director, UBS Warburg. "We are delighted to have these two greats returning to serve as captains. The Seaside Course is a spectacular setting for the second playing of the UBS Warburg Cup."

"We are excited to host the UBS Warburg Cup and the world's greatest golfers," said
Bill Jones III, Chairman & CEO, Sea Island Company. "Our spectacular Seaside Course will provide quite a setting and test for the two teams."

"The European Seniors Tour is delighted to sanction the UBS Warburg Cup," said Andy Stubbs, Managing Director of the European Seniors Tour. "International team match play is arguably the most exciting and it proved it once again in the inaugural UBS Warburg Cup."

Six matches of foursomes will lead off play on Friday, Nov. 15, followed by six matches of four-ball on Saturday, Nov. 16. The competition concludes on Sunday, Nov. 17 with 12 singles matches. Each match is worth one point and the first team to compile 12 ½ points will be the winner. Every member of the winning team will earn $150,000 while each member of the losing team will receive $100,000. On Thursday, Nov. 14, a Pro-Am tournament will be played.

The United States won a thrilling inaugural UBS Warburg Cup, 12 ½-11 ½ in overcoming the Rest of the World team. The tournament was held at The Ocean Course at Kiawah Island last November. Palmer's winning U.S. team included Mark Calcavecchia, John Cook, Raymond Floyd, Scott Hoch, Hale Irwin, Larry Nelson, Mark O'Meara, Dana Quigley, Loren Roberts, Curtis Strange and Tom Watson.

Player's team consisted of Isao Aoki, Jose Maria Canizares, Denis Durnian, Nick Faldo, Stewart Ginn, Bernhard Langer, Frank Nobilo, Des Smyth, Ian Stanley, Sam Torrance and Ian Woosnam.

Sea Island's devotion to the game of golf provides a fitting backdrop for the UBS Warburg Cup. The Seaside Course opened in 1927 and was redesigned by one of golf's greatest architects, Tom Fazio in 1999. Fazio blended the original nine-hole Seaside designed by Charles Colt and Hugh Alison with Joe Lee's Marshside nine into a course that plays in the tradition of the legendary Scottish links. The par-70 course covers 6,945 yards from the championship tees.

Sea Island also has two other spectacular 18-hole courses-the Plantation Course, which was recently redesigned by Rees Jones, and the Retreat Course, recently renovated by Sea Island Touring Professional Davis Love III.

Ocean Forest Golf Club at Sea Island played host to the 38th Walker Cup Match in 2001.
Sea Island's golf experience has earned a number of the game' highest accolades including: Golf Digest's Top Ten Resort, Golf Magazine's Gold Medal Resort, The Golf Letter's Global Ten and Number One Readers' Choice, and Conde Nast Traveler's Top Five Golf Resorts. The Seaside Course is known for its natural beauty and breathtaking panoramas of the island, marsh, creeks, Atlantic Ocean and St. Simons Sound.

Sea Island, home to the highly acclaimed Cloister hotel and The Lodge at Sea Island Golf Club, is a world-class residential and resort destination. Fourth generation CEO Bill Jones III is in the midst of parlaying a 70-year tradition of warm hospitality and superior amenities into the quintessential resort destination of the 21st century.

UBS Warburg is a business group of UBS (NYSE: UBS), one of the largest financial services firms in the world with 71,000 employees in more than 40 countries. UBS Warburg is a leader in equities, corporate finance, M&A advisory and financing, financial structuring, fixed income issuance and trading, foreign exchange, derivatives and risk management.

IMG, who is managing and staging the event, is the world's largest, most diverse and only truly global company dedicated to the marketing and management of sport, leisure and lifestyle. IMG employs a staff of nearly 3,000 people and has offices, sports academies and IMG-managed real estate facilities in 33 countries.

A limited number of tickets will be available for sale to the public beginning May 6. A 4-Day Patron Pass, priced at $195, offers four days of golf spectating (Thursday through Sunday) along with access to the Patron Pavilion, a commemorative program book and complimentary parking. The Patron Pavilion is a premium hospitality venue with a relaxing atmosphere featuring upgraded food and beverage selection and closed circuit television monitors to follow all the action.

Patron Passes are available on a first-come first-served basis beginning May 6 and can be purchased by calling toll-free 866-238-6596. Tournament and volunteer information are also available by calling the toll-free number.

Contacts:
Brener Zwikel & Assoc. Inc: Steve Brener/Toby Zwikel +1-818-344 6195, ext. 103/104
UBS Warburg: Joy Frascinella (London) +44-207-568 9822
David Walker (New York) +1-212-713 8502
Sea Island: Merry Tipton, Sea Island Company, +1-912-634 4359
Judi Griggs, Sea Island Company, +1-912-634 4358