Consolidated-Tomoka Land Co. (NYSE Amex: CTO), a publicly traded real estate company, is pleased to announce that a subsidiary of ClubCorp is the new golf management company for LPGA International, effective January 25, 2012. Jeff Andrews, PGA, has been named LPGA International’s General Manager. Mr. Andrews is a skilled team leader, with 15 years of in-depth, hands-on experience in club operations in public, private, semi-private, municipal and destination facilities. LPGA International is well known for its two Championship golf courses: the Champions Course, opened in 1994, a 7,088-yard traditional link style signature Rees Jones course, and the Legends Course, opened in 1998, an Arthur Hills design at 6,984 yards. LPGA International’s renowned practice facilities feature an 80,000-square-foot natural turf practice area, 10 target greens, six practice putting greens (several with bunkers), and a three-hole Practice Academy that offers par-5, par-4, and par-3 holes. The practice facilities, coupled with the exceptional golf courses, allow LPGA International to offer personalized golf instruction on every facet of the game through private lessons, clinics, and golf schools. The clubhouse, which opened in 2001, is home to The Grille restaurant, and offers a casual atmosphere after a day on the course and a more elegant dining experience three evenings per week. The International Room holds approximately 150 guests and is the perfect location for weddings, corporate events and tournament functions. Although LPGA International’s two golf courses and dining facility are open to the public, the club offers golf and social membership packages with added benefits including discounts and exclusive events. “I am extremely pleased to have entered into this management agreement,” said John P. Albright, president and chief executive officer of Consolidated-Tomoka Land Co. “ClubCorp brings unparalleled expertise and knowledge of golf management as well as an expansive network of benefits and opportunities outside of the club for LPGA International members. We look forward to growing the membership at LPGA International as well as having our facility showcased to the many members of ClubCorp’s portfolio of clubs throughout the United States who will no doubt take advantage of this opportunity to have a championship golf experience within six miles of The World’s Most Famous Beach.”
Consolidated-Tomoka Land Co. is a Florida-based publicly traded real estate company, which owns over 11,000 acres in the Daytona Beach area and a portfolio of income properties in the Southeastern portion of the United States. Visit our website at www.ctlc.com.“SAFE HARBOR” Certain statements contained in this press release (other than statements of historical fact) are forward-looking statements. The words “believe,” “estimate,” “expect,” “intend,” “anticipate,” “will,” “could,” “may,” “should,” “plan,” “potential,” “predict,” “forecast,” “project,” and similar expressions and variations thereof identify certain of such forward-looking statements, which speak only as of the dates on which they were made. Forward-looking statements are made based upon management’s expectations and beliefs concerning future developments and their potential effect upon the Company. There can be no assurance that future developments will be in accordance with management’s expectations or that the effect of future developments on the Company will be those anticipated by management.