NZ-Australian Golf Company Buys Singapore Cos.

FOR IMMEDIATE RELEASE

PRECISION GOLF FORGING LIMITED OF CHRISTCHURCH AND SYDNEY BUYS PGF INTERNATIONAL PTY LTD AND PGF NEW ZEALAND LTD

Precision Golf Forging Limited of Christchurch and Sydney has purchased PGF International Pty Limited and PGF New Zealand Limited from the previous owners Haw Par Corporation of Singapore.

PGF International Pty Limited and PGF New Zealand Limited (together the ‘PGF Group’) manufacture and distribute PGF golf clubs and equipment including the Optima golf ball throughout Australasia and Asia. As part of the acquisition Precision Golf Forging Limited now have ownership of the global rights to the PGF and Optima brands.

‘PGF’ and ‘Optima’ are core Australian golf brands with over 60 years serving the Australian and New Zealand golfer.

This proud tradition continues with the acquisition of the PGF Group by former management of PGF International Pty Limited who hold true to the legacy and vision of PGF founders and shareholders.

It is their commitment to see the PGF brand recapture its strong position in the market developing products for the Australasian and international market places.

The companies employ approximately 35 staff within Australia and New Zealand.

For further information contact: Mr Brett Tucker, Managing Director: Phone: (64) (3) 388-6086; Mobile: 021-685-986; Home (03) 355-2341

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