Golden Bear Provides Personal Preview of Jack Nicklaus Golf Club Korea

Golden Bear Provides Personal Preview of Jack Nicklaus Golf Club Korea

April 24, 2007

Signature Golf Course in Songdo International Business
District Announced


    NEW SONGDO CITY, South Korea and NEW YORK, April 24
/Xinhua-PRNewswire/ -- The official preview and naming
ceremony for the Jack Nicklaus Golf Club Korea was held
today at the site of the future course. Golf legend Jack
Nicklaus provided a preview of the highly anticipated
course to be located in New Songdo, Incheon, South Korea.
Attendees included Incheon City Mayor Sang-soo Ahn,
Chairman of Gale International Stanley C. Gale, and CEO of
Gale International John B. Hynes, III. Gale International
is developing the 1,500-acre, $25 billion New Songdo City
in a joint venture partnership with POSCO E&C. The
naming ceremony concluded with tee shots by Mr. Nicklaus
and Mayor Ahn.

    Jack Nicklaus is designing the Jack Nicklaus Golf Club
Korea. The golf club, the first and only in Korea to carry
the name of the "Golden Bear" himself, is being
co-developed by Gale International and Kitson &
Partners, LLC a leading golf community and club development
company. 

    Jack Nicklaus Golf Club Korea will feature world-class
architecture in the clubhouse and villa designs and set a
new benchmark for environmental stewardship, providing a
green oasis for the city and enhancing both its natural
aesthetic appeal and overall quality of life. The
PGA-standard 18-hole golf course will be at the heart of a
western-style fairway community that will include 151
villas, ensuring that it will be a major draw for
international businesspeople throughout Asia and beyond.

    From the tournament tees, the course will play to more
than 7,300 yards, presenting a challenge to the most
talented of golfers yet playable and enjoyable for golfers
of all abilities, by providing multiple tees and strategy
options. 
 
    The villas will provide unobstructed views of the
fairways, greens and tees. In addition, the Club will
feature fine and casual dining, a bar and lounge, private
meeting rooms, complete fitness and swim facilities, spa
amenities, and a professionally-staffed golf shop. Members
will be provided with personalized service and a variety of
activities and events for their sporting, recreational,
leisure, and culinary interests.

    No name is more synonymous with greatness in the sport
of golf than the name Jack Nicklaus, and no single person
has changed the face of the sport more than Jack Nicklaus -
the player, the designer, and the good-will ambassador.
Jack's competitive career has spanned five decades, and his
legend has been built with 105 professional tournament
victories worldwide and a record 18 professional
major-championship titles. He is the only player in history
to have won each of the game's majors at least three times,
and is the only player to have completed the career
"Grand Slam" on both the regular and senior
tours. The legacy Jack has left as a player can be rivaled
only by the legacy he is leaving as a golf-course
designer.

    Jack Nicklaus said, "We are confident that we will
support and enhance the vision for New Songdo City, one of
the most exciting development projects in the world today.
This new course will be planned and constructed to the
highest possible standards of quality."

    Stanley C. Gale, Chairman and Managing Partner of Gale
International said, "Jack Nicklaus represents the best
in class, indeed the best golfer and golf course designer in
the world. We are proud that Songdo International Business
District and Incheon will be home to this great course,
club and community. With Incheon City designated as the
official site for the 17th Asian Games in 2014, we can
expect increased interest in Songdo from investors and
companies. I deeply appreciate the efforts of Mayor Ahn in
making this happen."

    John B. Hynes, III, CEO and Managing Partner of Gale
International said, "The Jack Nicklaus Golf Club Korea
is an important element in Songdo's Quality of Life
initiative and telegraphs the world that Songdo will be the
place to live, work and recreate. New Songdo and Incheon
will become a sought after destination for businesspersons,
sports aficionados and by anyone seeking a full compliment
of urban experiences."

    Incheon Metropolitan City Mayor Ahn concluded by
saying, "The establishment of the Jack Nicklaus Golf
Club Korea guarantees that New Songdo City will emerge as a
key business hub of Northeast Asia. I am confident that it
will serve as a major component in attracting more
multinational companies and related jobs to Incheon."

    The Golf Club is scheduled to be completed in time for
the Incheon Expo in fall, 2009.

    New Songdo City, being built on 1,500 acres of
reclaimed land along the Yellow Sea, is positioned to
become the hub of Northeast Asia. New Songdo City is the
largest private real estate development in history and is a
70/30 joint venture partnership between Gale International,
one of the world's largest real estate developers, and
POSCO E&C, a subsidiary of Korean steel giant POSCO.
Gale International is headquartered in New York with
offices in Boston; Irvine, California; Seoul and New
Songdo, South Korea.

    When completed, New Songdo will include fifty million
square feet of office space, thirty million square feet of
residential space, ten million square feet of retail, five
million square feet of hotel space and ten million square
feet of public space. Every conceivable cultural and
recreational amenity will be available including a world
class hospital, an international preparatory school, a
Central Park and an art museum.  

    Kitson & Partners, LLC, headquartered in West Palm
Beach, Florida, specializes in planning, building and
managing master-planned golf course communities, working
with such leading golf course architects as Jack Nicklaus.


    Nicklaus Design is the global firm founded by golf
legend Jack Nicklaus and owned by the Nicklaus family.
Nicklaus Design is widely regarded as the world's leading
design firm with 306 courses open for play in 29 countries
and 38 states. Of those, Jack Nicklaus has been involved in
250 courses. At least 48 Nicklaus Design courses have been
ranked in various national or international Top-100 lists,
and by the end of 2006, at least 79 Nicklaus courses will
have hosted a combined total of more than 500 professional
tournaments worldwide or significant national amateur
championships. Nicklaus Design currently has more than 50
courses under construction, and courses under development
in 35 different countries.



    For more information, please contact:

     Gale International-International and U.S. Queries
     Mary Lou DiNardo
     Tel:   [phone]
     Email: [e-mail]

     Gale International-Domestic ROK Queries
     Hyewon Chang
     Tel:   [phone]
     Email: [e-mail]