FOOT AND MOUTH - OUR ASSURANCE TO OUR CLIENTS

Media reports in recent days have created a somewhat confused view of the situation in the British Isles relating to "Foot and Mouth Disease." Regardless of what you may have read, we wish to stress that it is currently very much "business as usual" on the principal golf courses of the British Isles and there is nothing to suggest that this will change. We believe however it is prudent to clarify our position on this issue and explain how we propose to handle our clients upcoming golf vacations. This includes a guarantee of a full refund of the price paid for the land tour (accommodations, golf, and ground transport) should a client wish to cancel a trip in the extremely unlikely event that we cannot deliver ALL stated elements of their trip due to any restrictions associated with Foot and Mouth Disease.

First and foremost, this disease has no documented health implications for humans. It is however a highly infectious disease for susceptible animals (cloven hoofed animals such as cattle, sheep and pigs) which humans can also spread via eg footwear if they come in contact with these animals. The disease has been compared to a bad cold for animals and ruins their economic value.

The British and Irish governments have adopted stringent measures to control and eliminate the disease. It is important to note that as of today, there are NO reported cases in the Republic of Ireland, and only one case in the North of Ireland. The majority of cases are in England. At present all cases in Scotland are confined to the Borders area. Britain has aggressively pursued the elimination of the disease with the slaughter of any herd which may have been exposed, even by the most circuitous route, to the disease. There are also restrictions on the movement of people in and around farmland. All indications are that the disease is being brought under control and will ultimately be eliminated. The disease thrives on damp and cold weather. The onset of warmer weather in the spring and summer will also assist in it's eradication. We are therefore making the following commitment to each and every passenger;

In the event PerryGolf cannot deliver every element of the golf tour to the British Isles as itemized on their confirmed schedule for travel through October 31, 2001 due to any restrictions which may apply as a result of Foot & Mouth, we will offer our clients the following options;

• Accept alternative golf for any affected rounds.

• Permit the client to cancel their trip with a FULL refund of the price paid for the land tour without penalty, including golf, accommodations and ground transportation.

The above applies even if only one golf course is unavailable, and we will let each client be the judge of the relative importance of that course within their schedule, whether they wish to cancel or proceed. Should any courses on their schedule be affected we will notify the traveler approximately 7 days prior to scheduled travel date and offer them a 48 hour period to make a decision.

Quite simply, PerryGolf is demonstrating it's commitment and confidence that courses throughout the British Isles shall be open for business as usual this summer. They want to be open, and they expect to be open. We derive the confidence from our in-country staff at the destinations who are monitoring the situation on a daily basis. We are also aware there have been stories regarding some courses being closed as a result of the disease when the reality was they were always scheduled to be closed during winter months for visitor play.

Everyone at PerryGolf wants our clients to enjoy the golf vacation they have been planning and anticipating. Rather than offering a few words of reassurance, we wanted to clearly and unambiguously demonstrate our position regarding the impact of this disease on forthcoming travel.

Gordon Dalgleish
President

March 20, 2001