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LET and Volvo in new sponsorship deal

The Ladies European Tour (LET) announced today a new umbrella sponsorship deal with Volvo Cars Nordic to cover all tournaments played in the Nordic region of Europe, including Denmark, Sweden, Norway, Finland and Iceland.

In a brand new concept Volvo Cars Nordic, Scandinavia's largest car sales company, will sponsor the 'Volvo Cross Country Challenge', a dedicated order of merit for the tournaments played in the Nordic region.

In an initial three-year deal starting in 2005, Volvo will be the Official Car to each tournament in the Nordic Region and will offer a full courtesy car service to the players.

In addition to the individual prize funds on offer for each event there will be a bonus pool which will be awarded to the players who head the order of merit at the end of the challenge as well as awarding a car to the winner.

A separate one million Dollar bonus will be available for any LET Member who wins all of the Volvo Cross Country Challenge tournaments in a season, with a minimum of four events required to trigger this bonus. Details of the Volvo Cross Country Challenge events will be announced in due course.

Also, during the forthcoming 2004 season, Volvo Cars Nordic has committed to partner the events played in the Nordic region prior to the commencement of the Volvo Cross Country Challenge in 2005 and will provide a full Official car service at each event.

The agreement marks the first significant investment made by Volvo Cars Nordic in the LET since their contribution to the outstanding success of The Solheim Cup 2003 held at Barsebäck Golf and Country Club in Sweden.

"The unparalleled success of The Solheim Cup in Sweden last year illustrated the tremendous enthusiasm and support that exists for golf - and women's golf in particular - across the Nordic region," said Ian Randell, Chief Executive of the LET.

"The introduction of a 'Nordic Swing' further builds on this success and enables us to bring the Nordic countries together in the development of both the LET and golf in general. We are indebted to Volvo Cars Nordic for sharing this vision and look forward to working with them to achieve our mutual goals."

Robin Gibson, Commercial Director of the LET added:

"The Solheim Cup 2003 demonstrated just how large the appeal of the women's game is and Volvo are one of the first of many to recognise the possibilities available."

"This commitment by Volvo Cars Nordic further emphasises that commercial partners are increasingly recognising the value that our product delivers."

Bengt Kjellberg, Senior Vice President, Public Affairs, Volvo Cars Nordic explains the rationale behind the move:

"From a Nordic perspective, it is interesting to note that Volvo Cars Nordic is now, after decades, shifting the focal point of its golf sponsorship from men's to ladies' golf," said Kjellberg.

"Ladies' golf is growing strongly throughout Europe and we feel this is the right time to make a strong commitment to professional golf among women players. We chose to implement this change first in the Nordic region, since it is our home market.

"The immense success of the Solheim Cup at Barsebäck last autumn, which we used to gauge interest in ladies' golf among our customers, showed that the Nordic region and Europe dominate women's golfing even though many players choose to play entirely or primarily in the USA.

"Women are a vital customer group for us in terms of car purchases. We are seeing increasing single-person households in the Nordic market, and we also know that the woman in the family plays a very prominent role in the choice of family car."

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