Final Report GOLF EUROPE 2008

Positive atmosphere at GOLF EUROPE 2008 despite difficult market situation
• GOLF EUROPE 2008 welcomes 4,636 trade visitors from 52 countries
• Extensive seminar program enjoys high visitor numbers
• Move of 2009 event to M,O,C, receives positive feedback

The 16th GOLF EUROPE, the leading European golf trade show, was held on October 5th to
the 7th, 2009 at the New Munich Trade Fair.

On three event days GOLF EUROPE 2008
welcomed a total of 4,636 trade visitors (2007: 5,427) and was forced to deal with a 14% decline in visitors compared to the very positive statistics from 2007.

However, this year’s high quality of visitors was one of the features which generally pleased the exhibitors.

Industry professionals from a total of 52 countries traveled to Munich to get the latest
information on the innovations and trends for the next golf season. In addition to Germany,
the largest contingent of visitors came, like last year, from Austria (381 visitors) and
Switzerland (300), followed by Italy and the Czech Republic. GOLF EUROPE registered a
considerable increase in trade visitors from Slovenia and Slovakia, more than 25%.

Visitors continue to profess how pleased they are with the event. A total of 71% of polled visitors commented that they would definitely return to the next GOLF EUROPE, and 69% said they would recommend the event to others.
285 exhibitors from 26 countries presented their collections to the visiting industry
professionals; this was similar to the statistics from 2007 (288 exhibitors). However, visitors
criticized the fact that a number of larger brands were not present.

To ensure that all leading companies will return to the GOLF EUROPE, thus providing a truly comprehensive overview of the entire market, it was decided to move the GOLF EUROPE 2009 back to the Munich Order Center M,O,C,. The M,O,C, in Munich-Freimann as an event platform and order center is the perfect staging ground for GOLF EUROPE. Many of the large brands
keep year-round show rooms at the order center, and can easily be reintegrated into the
event even without extensive booth set-up. Of course, generously sized brand
presentations are also possible thanks to the available exhibition hall space.

Furthermore, the dates for GOLF EUROPE 2009 will be moved up by one week to an
earlier start date. This is the reaction of Messe München GmbH, the event organizer, to the
emerging trend of increasingly earlier product launches even by hardware suppliers. In
addition, the earlier dates are of benefit to textile manufacturers, as they have to deal with
long procurement cycles. The schedule change also improves conditions for exhibitors and
visitors, as the event no longer overlaps with EXPO REAL, resulting in benefits such as
availability of a higher number of hotel accommodations at economic rates.

There will be no changes to the character of GOLF EUROPE as a leading European trade
show for the golf industry. GOLF EUROPE, held at the M,O,C, will focus closely on just one
topic, namely golf. Thus the event will take on an exclusive salon appeal, and considerably
improve the working atmosphere.

This year’s side event program as well as the complimentary seminar program, offered in
cooperation with the PGA of Europe, received very positive feedback. A special highlight
was the Q&A session with German shooting star Martin Kaymer, presented by Titleist.
John Jacobs, the first Director General of the PGA European Tour, received this year’s
GOLF EUROPE Legend Award.

GOLF EUROPE was pleased to honor a living legend and the leading architect of golf as we know it today. John Jacobs was the driving force behind the uniting of nations on the European continent with Great Britain in the world of golf.

The GOLF EUROPE Product Awards once again honored the most innovative products for
the 2009 golf season. The jury selected the winners from a total of 110 products entered by
about 60 companies in the categories Clubs, Apparel, Footwear, Accessories, as well as
Caddies and Training Equipment.

The next GOLF EUROPE will be held from September 27th to 29th, 2009 at the M,O,C, in
Munich-Freimann.

Manfred Wutzlhofer, Chairman and CEO of Messe München GmbH: “Unfortunately we
experienced a decrease in visitors compared to last year, which was likely a result of the
absence of a number of the larger brands. By moving next year’s event to the M,O,C, we
will be able to re-integrate these companies into GOLF EUROPE and thus provide a
comprehensive overview of the golf market. We already have received positive responses
by the large brands, indicating strong agreement that GOLF EUROPE is a powerful leader
among European golf trade shows.”

Manfred Erlacher, Chervo: "To begin with, we are pleased with the move to the M,O,C,. The
scheduling change of one week earlier is also a step in the right direction for us, a producer
of high-quality golf apparel. Any earlier date is a sensible development, in particular
regarding the long procurement cycles throughout the textile industry.”

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