July 30, 2003

GRACE PARK READY TO CHALLENGE TOP WOMEN PLAYERS IN THE WORLD AT THE SAMSUNG WORLD CHAMPIONSHIP, OCTOBER 6-12, AT THE WOODLANDS RESORT

THE WOODLANDS, Texas - She was born in Korea, raised in the United States and has had a burning desire to become the best female golfer in the world since taking up the game at the age of 8. Grace Park is getting closer to her goal.

Earlier this year, she lost a major championship (McDonald's LPGA Championship) to Annika Sorenstam, the No. 1 woman golfer in the world. Now Park is looking forward to challenging Sorenstam and the other top women players in the world this year in the Samsung World Championship, which will be played Oct. 6-12, at The Tournament Players Course (TPC™) at The Woodlands Resort.

The 24-year-old Park, now in her fourth full season on the LPGA Tour, will qualify for the Championship as one of the leading money winners on the LPGA Tour. She is currently second on the money list ($880,767) behind Sorenstam.

The 20-player Championship field will include the winners of the four LPGA major championships-the Kraft Nabisco Championship (Patricia Meunier-Lebouc), the McDonald's LPGA Championship (Sorenstam), the U.S. Women's Open (Hilary Lunke), and the Weetabix Women's British Open-as well as the 2002 Vare Trophy winner (Sorenstam), the 2002 defending champion (Sorenstam) and the LPGA Tour's leading money winners from 2002 (Sorenstam) and the current year. Other qualifiers will be the leading international players from the Ladies European Tour (LET), the Japanese Tour (JLPGA) and the Korean Tour (KLPGA). Rounding out the field are other leading money winners from the LPGA Tour's current year.

Park will be competing in the Championship for the fourth time. She played in the event for the first time as a rookie in 1998 and tied for sixth place. She was 20th in 2000 and 14th in 2002.

For the first time, Park will go into the Championship feeling like one of the top contenders. Much of her confidence came after she lost the McDonalds LPGA Championship to Sorenstam in a playoff.

"I know nobody remembers who finished second in a major," Park said after the loss, "but I will remember it. I played very well under tough conditions on a tough course and almost beat the best player in the world. You have to take some confidence from that."

Although she was one of the nation's top junior golfers and a college standout at Arizona State, it has taken Park four years to feel comfortable on the LPGA Tour.

"The first couple of years were kind of a struggle," she said. "I wasn't happy out here, wasn't happy when I was home. I was kind of stuck. I didn't know where I belonged. But after three years and a lot of hard work, I learned that this is where I belong. I am having fun again."

Park became a first time winner on the LPGA Tour in 2000 when she won the Kathy Ireland Greens.com LPGA Classic. In 2001 she won her second title - The Office Depot - and posted five additional top-10 finishes. She had a better year in 2002 when she won the CISCO World Ladies Match Play Championship for her third career title and added 12 top-10 finishes.

This year, she is having the finest season of her career. She won her fourth title - the Michelob Light Championship - and has finished second twice and third three times. In 15 tournaments, she has nine top-10 finishes.

The 72-hole Samsung World Championship is an officially sanctioned LPGA Tour event. It is a world-wide event which has been contested on five continents in its rich 22-year history. It will be broadcast on NBC on Saturday and Sunday, with ESPN providing early round coverage on Thursday and Friday.

The Championship purse is $800,000 with $167,500 going to the winner. In 2002, Sorenstam broke the Championship scoring record by shooting a 22-under par 266 at Hiddenbrooke Golf Club in Vallejo, Calif., to defeat Cristie Kerr by six strokes (also a Championship record).

The talented field will be thoroughly tested at the TPC™ at The Woodlands Resort, a par-72 course that measures 7,018 yards from the back tees. TPC™ at The Woodlands Resort, which had been the home of the PGA TOUR's Shell Houston Open for the past 17 years, is a picturesque course that places a premium on hitting fairways. The two closing holes on the layout rank among the top-four toughest holes in the state of Texas.

For sponsorship, volunteer or general information about the Samsung World Championship, call the championship office, locally at 281-419-4141 or toll free at 1-888-345-LPGA (5742). Or visit the championship website at www.Samsung.com. Tickets are currently on sale to the public.

About Samsung

Samsung is a world leader in electronics, finance, and trade and services. Headquartered in Korea, Samsung operates 285 offices and facilities in 67 different countries. The company employs approximately 175,000 people worldwide, with 200 net sales of US $116.8 billion.

Samsung believes that sports play a unique role in unifying people regardless of age, race, or gender. Samsung is a passionate supporter and active corporate sponsor of amateur and professional sporting events, training programs, teams and individual athletes in Korea and around the world.

The company extended its commitment to sports by becoming a worldwide Olympic Partner in 1997. Samsung's official Olympic Games partnership will continue with the Athens 2004 Olympic Games and Beijing 2008 Olympic Games.

For more information, please visit our website: www.samsung.com.

About The Woodlands Resort & Conference Center

Nestled in pristine woods 27 miles north of Houston and just 20 minutes from George Bush Intercontinental Airport, The Woodlands Resort & Conference Center is an award-winning, multi-faceted resort that features 490 deluxe rooms and suites, unique restaurants and lounges, plus more than 60,000 square feet of flexible meeting space, including 32 dedicated meeting rooms. Recreational activities are highlighted by the new Forest Oasis Waterscape(tm), two additional pools, a full service spa and fitness center as well as six golf courses. For further information, contact The Woodlands Resort & Conference Center: 2301 North Millbend Drive, The Woodlands, TX 77380; Telephone: 800-433-2624; Fax: 281-364-6299; Web site: www.woodlandsresort.com.

About The Woodlands

The Woodlands is a 27,000-acre forested community where people live, work, play, and learn as families and companies. Located 27 miles north of downtown Houston on I-45, it encompasses seven residential villages with an eighth now in development, three commercial centers, a resort and conference center, a luxury hotel and convention center, hospitals and health care facilities, and exceptional shopping, dining, entertainment, and recreational amenities. More than 70,000 people live in The Woodlands, and 30,000 people work in the community. The Woodlands is a project of The Woodlands Operating Company, L.P., a Crescent Real Estate Equities and Morgan Stanley limited partnership. For more information, visit www.thewoodlands.com, or call 1-888-504-5050.