FOR IMMEDIATE RELEASE

CONTACT: Ryan Julison, Ginn Resorts (321) 377-6877 rjulison@ginncompany.com

MT. PLEASANT, S.C. (August 8, 2008) - Ginn Sports Entertainment and the LPGA jointly announced today that the Ginn Tribute Hosted by Annika will not take place in 2009 and 2010 as scheduled.

"We have mutually agreed to cancel the 2009 and 2010 Ginn Tribute events," said LPGA Commissioner Carolyn F. Bivens. "The popularity and interest of the LPGA is at an all-time high thanks in part to sponsors like Bobby Ginn. We also appreciate all of the fan support that the LPGA received in Charleston and from throughout South Carolina, and look forward to returning to the South Carolina market in the future."

The event, which debuted in 2007 in Mt. Pleasant, S.C. near Charleston, was played on the Arnold Palmer-designed golf course at RiverTowne Country Club. The tournament offered a $2.6 million purse, one of the highest on the LPGA Tour. In both years, the event drew one of the top fields on Tour.

According to Bobby Ginn, chairman and CEO of The Ginn Companies, LLC, while the tournament was an attendance and ratings success, it did not draw the necessary sponsorship to continue.

"The golf tournament business is primarily fueled by economic support," said Ginn. "We did everything in our power to generate the sponsorship necessary to continue with the Ginn Tribute, but given the current market and corresponding cuts in corporate spending, it was an uphill battle."

- more -

Ginn Resorts currently sponsors and produces events on all three major tours, including the LPGA Tour's Ginn Open held at Ginn Reunion Resort near Orlando, Fla.

Seon Hwa Lee won the 2008 Ginn Tribute, with Nicole Castrale winning the inaugural event. In both years, the Ginn Tribute was broadcast on the Golf Channel during the first two rounds with NBC picking up weekend coverage.

About the Ladies Professional Golf Association: As the longest-running women's professional sports organization in the world, the LPGA features a membership comprised of world-class LPGA Tour professionals and dedicated Teaching and Club Professionals (T&CP). Today's LPGA Tour features the most talented global sampling of professional athletes competing in 36 events in 10 countries with total prize money of more than $62 million. In addition to its dynamic Tour members, nearly 1,200 certified T&CP members serve the golf industry in teaching, coaching and management positions, and oversee programs aimed at increasing the involvement of women, girls and youth in golf. The LPGA's Vision is to inspire, empower, educate and entertain by showcasing the best golf professionals in the world. Its Mission is to be a leader in the world of sports, to promote economic empowerment for all members, and to serve as role models on and off the course. The LPGA is headquartered in Daytona Beach, Fla. For more information on the LPGA, log on to www.LPGA.com.