THE PENINSULA DEVELOPMENT TO RETAIN TROON GOLF

Posted on June 19, 2003

Assists Odyssey Development with Delaware's First Exclusive Golf Community

Scottsdale, Ariz. - Troon Golf,® the world leader in luxury golf management, development and marketing, is assisting Odyssey Development, of McLean, Va., in the creation of The Peninsula, which will stand as the first upscale, private gated, golf community in the state of Delaware.

Set in 800 acres, abundant with natural vegetation and wildlife near the popular Mid-Atlantic resort area of Rehoboth and Dewey Beach, The Peninsula will feature a Jack Nicklaus Signature golf course; the Golden Bear's first project in Delaware. With groundbreaking set for Fall 2003, Troon Golf will consult through the construction phase of the golf course, and assume management of club operations when the facility opens in 2005.

Seven holes set dramatically along Indian River Bay and Lingo Creek and set the tone for the special feel of the TROON GOLF EXPERIENCEsm at The Peninsula. Where water sports are extremely popular in the Mid-Atlantic resort lifestyle, the golf course is a major component in a $35 million amenity package that includes a multitude of pools and water playgrounds highlighted by an immense swimming lagoon complete with sand beach - another recreational first in Delaware.

"Until now, such an exclusive membership opportunity with the world class facilities has not been available to Delaware homebuyers," stated Larry A. Goldstein, President of Odyssey Development. "As we embark on our vision for The Peninsula, we are fortunate to have the assistance of Troon Golf, a company that fully understands every nuance of a superlative golf club operation."

In addition to the impeccably maintained golf course, the magnificent 30,000-square-foot clubhouse will afford resident members the renowned luxury and comfort of the TROON GOLF EXPERIENCE, exemplified by gracious personal attention, fine dining, and an array of entertaining club activities. Membership in The Peninsula will be available only to property owners. Residential options will include custom single family homes, semi-custom town homes and villas, and condominiums.

"We are very excited to be involved in the most extraordinary private club experience possible to this popular area along the Mid-Atlantic seaboard," stated Troon Golf Senior Vice President, Acquisition & Development, Larry Cole. "Our ability to blend exclusive membership services with resort amenities will assure The Peninsula membership of unending luxury, comfort and championship playing conditions."

Headquartered in Scottsdale, Arizona, Troon Golf manages operations at more than 140 clubs located in 25 states and 11 countries. Additionally, 28 Troon Golf facilities enjoy a Top 100 ranking by national or international publications. Troon Golf properties include The Westin Turnberry Resort, Ayrshire, Scotland; Whirlwind® Golf Club, Gila River (Phoenix), Ariz.; Whitetail Club, McCall, Idaho; Horseshoe Bay Golf Club, Egg Harbor, Wis.; The Revere Golf Club, Las Vegas, Nev.; Brookwater Golf Club, Queensland, Australia; and Palmilla Resort & Golf Club, Los Cabos, Mexico.Scottsdale, Ariz. - Troon Golf,® the world leader in luxury golf management, development and marketing, is assisting Odyssey Development, of McLean, Va., in the creation of The Peninsula, which will stand as the first upscale, private gated, golf community in the state of Delaware.

Set in 800 acres, abundant with natural vegetation and wildlife near the popular Mid-Atlantic resort area of Rehoboth and Dewey Beach, The Peninsula will feature a Jack Nicklaus Signature golf course; the Golden Bear's first project in Delaware. With groundbreaking set for Fall 2003, Troon Golf will consult through the construction phase of the golf course, and assume management of club operations when the facility opens in 2005.

Seven holes set dramatically along Indian River Bay and Lingo Creek and set the tone for the special feel of the TROON GOLF EXPERIENCEsm at The Peninsula. Where water sports are extremely popular in the Mid-Atlantic resort lifestyle, the golf course is a major component in a $35 million amenity package that includes a multitude of pools and water playgrounds highlighted by an immense swimming lagoon complete with sand beach - another recreational first in Delaware.

"Until now, such an exclusive membership opportunity with the world class facilities has not been available to Delaware homebuyers," stated Larry A. Goldstein, President of Odyssey Development. "As we embark on our vision for The Peninsula, we are fortunate to have the assistance of Troon Golf, a company that fully understands every nuance of a superlative golf club operation."

In addition to the impeccably maintained golf course, the magnificent 30,000-square-foot clubhouse will afford resident members the renowned luxury and comfort of the TROON GOLF EXPERIENCE, exemplified by gracious personal attention, fine dining, and an array of entertaining club activities. Membership in The Peninsula will be available only to property owners. Residential options will include custom single family homes, semi-custom town homes and villas, and condominiums.

"We are very excited to be involved in the most extraordinary private club experience possible to this popular area along the Mid-Atlantic seaboard," stated Troon Golf Senior Vice President, Acquisition & Development, Larry Cole. "Our ability to blend exclusive membership services with resort amenities will assure The Peninsula membership of unending luxury, comfort and championship playing conditions."

Headquartered in Scottsdale, Arizona, Troon Golf manages operations at more than 140 clubs located in 25 states and 11 countries. Additionally, 28 Troon Golf facilities enjoy a Top 100 ranking by national or international publications. Troon Golf properties include The Westin Turnberry Resort, Ayrshire, Scotland; Whirlwind® Golf Club, Gila River (Phoenix), Ariz.; Whitetail Club, McCall, Idaho; Horseshoe Bay Golf Club, Egg Harbor, Wis.; The Revere Golf Club, Las Vegas, Nev.; Brookwater Golf Club, Queensland, Australia; and Palmilla Resort & Golf Club, Los Cabos, Mexico.
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