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Price sets pace with 11 birdie 63
Nick Price birdied the 18th to shoot a nine-under par round of 63 and lead the American Express World Championship at Valderrama after the first round.
The Zimbabwean was three shots ahead of his playing partner, Padraig Harrington, who finished on 66.
The Irishman missed a good chance to close the gap at 17 after driving to within 10ft of the pin, and then bogeyed the final hole.
Price put his success down to a return to form with the putter, saying: "I'm really excited about playing golf again. I've been putting well for a few weeks now and it's giving me a lot of momentum."
Andrew Coltart leads the British challenge, in the clubhouse on five under after a round of 67, level with America's Scott Hoch.
Defending champion Woods already has to make up eight strokes if he is to capture the win which will take his US Tour earnings for the season through the 10 million dollars barrier.
Back on the course where he ran up a triple bogey eight at the 17th hole in the final round last year, Woods made another visit to the water fronting the green.
This time it was his second shot rather than his third.
But by missing from six feet it cost him a bogey six and with two three-putt bogeys and a wild approach to the 13th his five birdies still left him with only a one under par 71.
Colin Montgomerie, winner of the Order of Merit for the last seven seasons but needing to win on Sunday to have a chance, said goodbye to that slim hope by four-putting the 17th for a double bogey seven and dropping another shot at the last to finish virtually at the back of the field.
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