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Golf News: - Posted 19th October 1998

Golden Bear director resigns

North Palm Beach, Florida. - Golden Bear Golf, Inc. announced today that Richard P. Bellinger, President and Chief Executive Officer, has resigned to pursue other interests.

Mr. Bellinger worked for Golden Bear for almost 19 years. He became Senior Vice President and Chief Operating Officer of Golden Bear International in 1985 and President in 1989. In 1996 Mr. Bellinger was named President and Chief Executive Officer of Golden Bear Golf, Inc.

"I very much appreciate the efforts of Dick over the years and most recently his efforts in negotiating the sale of the Golden Bear golf centers. I obviously wish him well in any endeavors he chooses to pursue," said Jack Nicklaus.

Mr. Bellinger was quoted as saying, "I naturally have mixed emotions about leaving Golden Bear after so many years, but I feel this is the right time for me to look to new opportunities and challenges."

As a result of Mr. Bellinger's resignation, Mr. Stephen S. Winslett, the current Senior Vice President and Chief Financial Officer, has been appointed Chief Operating Officer of Golden Bear Golf.