"I've been poor and I've
been rich. Rich is better." --
Michael Caine

David Dean, Managing Director, PGA Golf Management Ltd., to sit on expert panel at the 2003 European GOLF Investment and Real Estate Conference

September 1, 2003 -- David Dean, Managing Director, PGA Golf Management, will sit on the 'Effective Golf Course Management: Creating the Most Value for Owners and Investors in Europe' panel at the 2003 European GOLF Investment and Real Estate Conference in Athens on November 29, 2003.

"The confirmed speakers and panellists should provide for some very interesting discussions and the conference provides the opportunity for PGA Golf Management to network and raise its awareness within the industry," David commented.

Career summary

David formed Braemar Golf Developments with Ian Ferrier in 2000 and has been central to the strategic launch of PGA Golf Management as a golf facilities management company.

David has been involved in the golf industry for many years and worked as Development Director for Gleneagles Golf Developments Ltd., the precursor to Braemar Golf Developments, with Ian Ferrier since 1991.

David had responsibility for:

• employing his knowledge and experience of the international hotel, resort and leisure industries to penetrate new markets

• selecting the key projects and personnel to be associated with PGA Golf Management

• providing strategic leadership to PGA Golf Management focusing on delivery of quality and service to all client of the business

• ensuring that his knowledge and understanding of the economics of business development is available to provide high level advice to clients of PGA Golf Management

David has knowledge and experience of the international hotel, resort and leisure industries.

He has extensive knowledge of all areas of funding and risk management, including risk analysis, project structuring, joint venturing, and estate brokerage. He has wide experience in the areas of political lobbying, negotiation of historical concessions and negotiation with national government departments and agencies, which are an integral part of development and project management.

He is also principal of The Daedalus Group, which was established in 1988, providing a development and design consultancy to selected hotel and resort clients in Asia, Europe and North America and the Caribbean.

David's extensive experience as a fee-based developer incorporates development services in site selection, project evaluation, land economics, environmental impact studies and master planning.

Prior to establishing The Daedalus Group, he worked for Forte Hotels, Westin Hotels and Resorts and Four Seasons Hotels and Resorts. During his career, he has worked in London, Paris, Bermuda, India, Canada and the USA.

David has held positions for six years as an Independent Member of the London Heathrow Airport Consultative Committee and the Passenger Services Sub Committee.

PGA Golf Management has successfully secured its first two contracts. The first is a management services agreement at Ammaia Clube de Golfe de Marvao in Portugal. The second contract was secured in November 2003, where PGA Management, in association with Gleneagles, will manage Riffa Golf Club, Bahrain.

In addition to this, PGA Golf Management is in final contractual negotiations for another high profile development in continental Europe, as well as pursuing a number of other opportunities.

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