New York and Ponte Vedra Beach, FL, November 14, 2002 � Deutsche Bank, the PGA TOUR and IMG today jointly announced the creation of the Deutsche Bank Championship, with the event�s charitable proceeds benefiting the Tiger Woods Foundation, which promotes children�s health, education and welfare.  The new event will be held at the Tournament Players Club of Boston and will conclude on Labor Day, September 1, 2003.  

The Deutsche Bank Championship is a 72-hole, full-field event.  It will feature first place prize money of $900,000.  The USA Network will televise the first two rounds on Friday, August 29 and Saturday, August 30.   ABC-TV will carry the final two rounds on Sunday, August 31 and Monday, (Labor Day) September 1.  IMG, the world�s largest sports marketing agency, will be responsible for promoting and managing the event.

�I am thrilled that Deutsche Bank has selected the Tiger Woods Foundation to be the beneficiary of this new PGA TOUR event,� said Tiger Woods.  �This will certainly assist our Foundation�s goals in helping and reaching out to youngsters in need, who will lead this nation to a brighter tomorrow.� 

�Partnering with the PGA TOUR and the Tiger Woods Foundation for this high-profile tournament not only gives us the opportunity to support a worthy cause, but also is a powerful way to deepen client relationships and raise the profile of our brand in the US,� said Seth Waugh, CEO, Deutsche Bank Americas. �The US is our fastest growing market and sponsorship of this event further underscores our commitment to this important region.� 

PGA TOUR Commissioner Tim Finchem said, �We are extremely pleased to announce this new PGA TOUR event for the Labor Day Weekend and to welcome Deutsche Bank as its title sponsor. Deutsche Bank is one of the leading banking institutions in the world, and the fact that it is partnering with the Tiger Woods Foundation as the event�s charitable beneficiary is particularly exciting. 

�We are confident the tournament will be well received," Finchem said.  "We look forward to the PGA TOUR�s return to the Boston area, and to showcase the new Tournament Players Club of Boston, which has already received outstanding reviews.� 

In addition to four days of tournament competition, the event will feature practice rounds on Tuesday and Wednesday August 26 and 27, as well as a pro-am competition on Thursday, August 28, 2003.