ClubCorp will Manage Ocean Edge Resort and Club on Cape Cod

Luxury Wedding Destination and Conference Center Now Open Year-Round

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. October 14, 2008

DALLAS, TX, February 1, 2006. ClubCorp has announced it has entered into a long-term agreement with Corcoran Jennison Companies to manage Ocean Edge Resort & Golf Club in Brewster, Massachusetts, on Cape Cod. Ocean Edge, Cape Cod's premier seaside resort, will become ClubCorp's fourth ClubResorts property, joining Barton Creek Resort & Spa in Austin, Texas; The Homestead in Hot Springs, Virginia; and Pinehurst Resort in the Village of Pinehurst, North Carolina.

Located on 400 acres adjacent to Cape Cod Bay in Brewster, Ocean Edge offers an elegant location where couples can choose from a variety of settings to celebrate their marriage against a backdrop of scenic Cape Cod Bay and picturesque Provincetown.

Ocean Edge also offers the perfect space for inspired meetings, executive retreats, or conferences. With 16 meeting rooms; creative catering services that include a variety of menu options (executive chef Michael Gregory's theatrical food presentations are renowned); high-tech amenities such as Wi-Fi, videoconferencing, and multimedia capabilities; and recreational activities that include golf and tennis in an environment of breathtaking beauty, Ocean Edge creates extraordinary meeting experiences.

The resort also features 336 luxury guest rooms and villas, 11 outdoor tennis courts, four outdoor and two indoor pools, four restaurants, and a state-of-the-art fitness center. Guests can also tour the historic Cape Cod Trail, which winds along the grounds and stretches 26 miles to the National Seashore and is ideal for biking, running, and rollerblading.

Corcoran Jennison, which developed and owns Ocean Edge, plans to spend more than $20 million in the next two years upgrading and renovating the resort. Plans include a major redesign and renovation by Nicklaus Design to the existing 18-hole golf course, and substantial improvements to the property's ocean-view restaurant and meeting space. Part of the capital funds also will go toward further renovations to guestrooms, dining rooms, and back-of-the-house facilities, and an expansion of the spa.

"We are thrilled to be managing Ocean Edge," said John Beckert, ClubCorp's CEO and president. "It is a beautiful property located in a very desirable part of the country, which perfectly complements our portfolio of resorts and clubs, and our goal of expanding our presence in the Northeast, which includes Boston College Club, University of Massachusetts Club, and Ipswich Country Club, all in the Boston area, and the Athletic & Swim Club at Equitable Center in New York City."

"ClubCorp has a rich history in successfully managing resort facilities," said Joseph E. Corcoran, Corcoran Jennison's chairman. "We are confident that their management skills, partnered with our commitment to the capital improvements, will solidify Ocean Edge as the premier resort in the Northeast."

About Ocean Edge Resort & Club

Situated on a bluff overlooking Cape Cod Bay, Ocean Edge Resort & Club on Cape Cod is the Cape's premier seaside resort. Relaxed and thoroughly inviting, the resort's 335 rooms, suites and multi-bedroom villas rest comfortably on more than 400 naturally landscaped acres along historic Route 6A in Brewster, Massachusetts. Guests enjoy golf, tennis, indoor and outdoor pools, and a beautiful 700-foot slice of private beach that is the perfect setting for swimming, strolling and family gatherings.