John KrzynowekPartner, Golf Datatech, LLCPartner, Golf Datatech, LLC

2006 Retail Report Card2006 Retail Report Card

• Retail sales of US golf equipment, 2006Retail sales of US golf equipment, 2006

• Prognosis for US golf equipment in 2007Prognosis for US golf equipment in 2007

• Retail sales of UK golf equipment, 2006Retail sales of UK golf equipment, 2006

Total Sell Thru Golf EquipmentOn & Off Course CombinedTotal Sell Thru Golf EquipmentOn & Off Course Combined

Balls, Woods, Irons, Putters, Wedges, Shoes, Gloves, Bags

$2,000,000$2,100,000$2,200,000$2,300,000$2,400,000$2,500,000$2,600,000$2,700,000$2,800,000$2,900,000$3,000,000

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006

*2006 Estimate

*

-4% 0%+3% +2%

-2% +1%

+2%

+10%

+6%

Total Sell Thru Golf EquipmentOn CourseTotal Sell Thru Golf EquipmentOn Course

Balls, Woods, Irons, Putters, Wedges, Shoes, Gloves, Bags

*2006 Estimate

$900,000$920,000$940,000$960,000$980,000

$1,000,000$1,020,000$1,040,000$1,060,000$1,080,000$1,100,000

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006*

-1% 0%

+3%

+5%

-4%

5% -1%

+3% 0%

Total Sell Thru Golf EquipmentOff CourseTotal Sell Thru Golf EquipmentOff Course

Balls, Woods, Irons, Putters, Wedges, Shoes, Gloves, Bags

*2006 Estimate

$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,700,000$1,800,000$1,900,000$2,000,000

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006*

-6% -1%+4% -1% 0%

+6%+4%

+15%

+9%

Category Sell Through US $August YTDCategory Sell Through US $August YTD

WoodsWoods +13%+13%

WedgesWedges + 8%+ 8%

Iron setsIron sets + 8%+ 8%

FootwearFootwear + 5%+ 5%

BagsBags + 5%+ 5%

PuttersPutters + 3%+ 3%

GlovesGloves + 2%+ 2%

BallsBalls N/C N/C

US Hybrid $ Single Sales US Hybrid $ Single Sales

$52.0

$128.8

$180 -$200

2004 2005 2006 Est

$ Millions

Golf Equipment Prognosis for 2007Golf Equipment Prognosis for 2007

• Balls/gloves depend upon rounds Balls/gloves depend upon rounds played growthplayed growth

• Clubs/shoes have continuing strong Clubs/shoes have continuing strong underlying consumer demandunderlying consumer demand

• Significant growth requires Significant growth requires technological breakthroughstechnological breakthroughs

Golf DatatechUK Sell ThroughGolf DatatechUK Sell Through

• Began in January 2006Began in January 2006

• Similar methodology to USSimilar methodology to US

• Project On/Off Course market Project On/Off Course market and share based on sampleand share based on sample

Category Sell Through UK Select CategoriesAugust 2006 YTD

Category Sell Through UK Select CategoriesAugust 2006 YTD

BallsBalls + 1%+ 1%

IronsIrons (16%)(16%)

WoodsWoods (13%)(13%)