PRESIDENT’S LETTER

Dear Members and Guests,
When I first heard the new “storyline” for The Pinehurst Company — The Commonwealth of Golf — I pulled the dictionary off the shelf. Our resorts division had gone through a process to “envision” the next decade for the company. In fact, the “division” had changed its name last year because its original identity no longer reflected its business. The storyline was crafted to present a clear description and a road map for the enterprise as it moves into the future. The new description will be used in branding efforts and promotional materials for the company.

The Pinehurst Company, of course, is a growing collection of what we believe to be some of the most extraordinary golf resorts in the world. It also is much more. The Pinehurst Company also oversees The Owners Club, develops corporate clubs such as Firestone Country Club, provides a home for Pinehurst Championship Management (our tournament management group) and The Pinehurst Company Golf Institute (a developing program of golf instruction), and creates communities such as the new residential village concept now under way near Pinehurst in North Carolina — and more.

In the future, the company will reach out, not just locally but globally, with branded goods and services, including retail, instruction, corporate partnering, and championship tournament expertise.

“The Commonwealth of Golf.”

Yes, the dictionary definitions apply. The Commonwealth of Golf encompasses the whole body of golfers, including golf lovers past, present, and future. The offerings of The Pinehurst Company touch every phase of a golfer’s experience, from learning to playing to vacationing to living.

And that is the story of The Pinehurst Company. We hope it’s a story that transforms Magic Moments into treasured memories when you visit one of our extraordinary resorts. And we hope this story will somehow be part of your summertime plans. When it is, please drop me a postcard.

Robert H. Dedman Jr.
President and Chief Executive Officer
ClubCorp