Tiger Woods and Ernie Els Partner With Tavistock

Group to Create the World's Finest Resort Community in the Bahamas

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. October 14, 2008

THE BAHAMAS, November 9, 2006. Three of the top names in golf, Tiger Woods, Ernie Els and Tavistock Group have partnered together to create Albany -- destined to become one of the world's finest resort communities that will feature the highest level of luxury, quality and amenities within an oceanfront club community.

Prominent brands in their own right, Woods, Els and Tavistock Group have come together as long standing friends and business partners to create Albany Golf & Beach Club. Located just seven minutes drive from Nassau's Lynden Pindling International Airport on the southwestern corner of New Providence, Albany will be an exclusive, resort-styled enclave, combining the very best of island life with a relaxed casual elegance all of its own.

"We are pleased to welcome deeper investment by Joe Lewis and Tavistock Group in The Bahamas and we are proud to now have both Tiger Woods and Ernie Els join them in creating Albany," stated the Right Honourable Perry G. Christie, Prime Minister. "Their investment in Albany sends, once again, a strong signal to the world that The Bahamas is one of the world's premier resort destinations," added Christie.

The Heads of Agreement between the Bahamian Government and the Developer behind Albany Golf & Beach Club will be signed today at The Cabinet Office in Nassau. Construction of Albany Golf & Beach Club is scheduled to begin immediately with plans for the community to open in the fall of 2008.

A family-oriented resort community offering something for everyone, Albany will be highlighted by an array of family amenities including an 18-hole championship golf course designed by Ernie Els; an exotic family swimming complex; a state-of-the-art marina for boats and mega-yachts up to 240 feet in length; a beach club overlooking the beautiful Bahamian waters; a tennis and racquet center; a variety of water sports and activities; an exquisite boutique spa; a world-class fitness center with adult pool, and an equestrian center. In addition, a variety of children's programs and adult activities will be continually offered to make sure all members of the family enjoy every moment at Albany, season after season, year after year.

"We are excited to get started on Albany - Joe Lewis, Ernie and I share the ambition to make this community one of the finest in the world," said Tiger Woods. "With Albany, I look forward to spending more time in The Bahamas and playing Ernie on our new golf course," added Tiger. "There's no doubt about it, we plan to make Albany very special," concluded Woods.

Echoing this sentiment, Els commented, "It's a great opportunity for all of us, and we plan to design a phenomenal golf experience for all types of players at Albany." Els continued, "Albany will be unique, it will have something for everybody. My children are excited about Albany and it is going to be an amazing place where we can truly relax with family and friends."

"With the signing of our Heads of Agreement, this marks an important day for The Bahamas. Together with Tiger and Ernie, we are investing considerable resources to ensure that Albany is one of the finest communities in the world," stated Christopher Anand, Managing Partner of Albany. "We have assembled a world class collection of partners to ensure Albany sets a new standard in community development," added Mr. Anand.

Noted architect and planner, Andres Duany, co-founder of Duany Plater- Zyberk, was retained by the Partners to design the land plan and initial architectural code for Albany. The community will have a wide range of housing styles and sizes including beach club cottages, oceanfront homes, luxury apartments with dramatic views of the water and marina, and beautiful interior homes nestled throughout the community's 565 acres. All of the homes will be built to the highest architectural and construction standards.

Adding to the uniqueness of Albany Golf & Beach Club will be the level and selection of services being provided within the community. Former Ritz-Carlton chief executive and current West Paces Group CEO, Horst Schulze, was challenged to create a new level of service for this resort community. "The Partners behind Albany have asked us to provide a service level at Albany that will rival the finest hotels, and my entire team at West Paces Group is committed to creating and managing Albany in a way that will set new standards for island luxury living," stated Schulze.

Punctuating the community's luxurious lifestyle is the broad range of amenities to be offered at Albany:

o An 18-hole championship golf course designed by Ernie Els

o World-class golf instruction and practice facilities

o Mega-yacht marina with full dockage support and services

o Beach Club with multiple dining options including a pool-side bar and grill

o Exotic family swimming complex in a tropical garden setting

o Marina Yacht Club complete with a boutique retail experience

o A variety of water activities for the entire family

o Dry stack boat storage

o Racquet center with tennis and indoor paddle tennis courts

o State-of-the-art fitness center

o Boutique spa with adult pool

o Extensive children's programming

o Equestrian center with stables and paddocks

o Full concierge services

o Multiple parks and green spaces

"Celebrating the very best of The Bahamas, Albany will be a vital asset for the country and will further enhance Nassau's reputation for hospitality and leisure excellence," stated Christopher Anand. Albany compliments the Bahamian Government's comprehensive plans for further development of the western end of New Providence which includes the existing Lyford Cay and Old Fort Bay communities and calls for an extensive renovation of the Lynden Pindling International Airport, a new luxury hotel development at South Ocean, a new port, a broader variety of housing for all Bahamians, beach and community enhancements, and new commercial and retail centers.

In addition to creating one of the finest communities in the world, the Partners behind Albany are committed to delivering on several initiatives targeted at creating new and improved community-wide amenities for residents of New Providence. The first of these initiatives includes the creation and improvement of two beach experiences on New Providence at Caves Beach and the beach in Adelaide Village. In addition, as part of this first phase, Adelaide Village will also be the beneficiary of other community enhancements including the creation of new and improved recreational areas within the village center. Beyond these initial initiatives, the Partners behind Albany have created several Community Foundations that will be funded into perpetuity targeting other long-term programs that will continue to improve amenities for all residents of New Providence for years to come. Anand concluded by stating "We believe deeply that these investments in new community-wide amenities are important to all people who care deeply about The Bahamas. We are excited about becoming a major participant and supporter of these community-wide activities and programs that are good for New Providence."

"We are delighted to have the support of Tavistock Group and the partners behind Albany to help us realize our redevelopment plans for the western end of New Providence," added Christie.