Baha Mar Inks Deal for Jack Nicklaus Signature Golf Course as Part of Planned Mega-Resort

New Course Among the First of Many Strategic Partnerships Destined to Create a World-Class Guest Exp

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. October 14, 2008

NASSAU, The Bahamas, September 16, 2005. Golf legend Jack Nicklaus and his company, Nicklaus Design, and Baha Mar Development Company Ltd. have partnered to bring world-class golf to Baha Mar's new multi-billion-dollar development on Nassau's Cable Beach in The Bahamas. Under the agreement, Nicklaus Design will create a new 18-hole, Jack Nicklaus Signature Course, the highest tier of the company's design offerings. The championship-quality course, the only one of its kind in Nassau, will be an integral part of Baha Mar's phase one development of its planned $1.6 billion mega-resort. Under the agreement, Baha Mar may commission Nicklaus to create additional Signature Courses either on-site or at a convenient off-site location.

Baha Mar, a 1,000-acre, mixed-use destination resort complex represents the single, largest resort investment in the history of The Bahamas. Phase one of the Caribbean-inspired property will include more than 2,000 guest rooms across multiple, first-class branded hotels and the Caribbean's largest branded Las Vegas-style casino. In addition, Baha Mar also will feature restaurants by some of the world's best-known chefs, a wide range of retail outlets, a mega spa, a destination water park attraction, and entertainment venues for live performances. A tropical-inspired landscaped waterway system and wide pedestrian paths will provide easy access to all of the property's amenities and facilities.

The Jack Nicklaus Signature Course designed for Baha Mar will feature extensive personal involvement by Jack Nicklaus, who will visit Nassau several times to oversee all design-related concepts and course development. The course, which will be located on the property and will be accessible via a specially designed waterway, will feature a challenging but playable layout for all skill levels. The design of the Jack Nicklaus Signature Course, along with a new clubhouse and other facilities, will also involve MHA Studio, a subsidiary of Baha Mar established and dedicated to the architectural design and execution of the mega-resort project.

"We are honored and excited that Nicklaus Design has been asked to create the golf amenity for a project of this scope and magnitude," said Jack Nicklaus. "The owner's commitment to bringing the highest-quality resort to Nassau is impressive, and I know that commitment extends to the golf course, as well."

According to Baha Mar officials, the Nicklaus deal is one of many high-profile relationships the company is engaging in as part of its quest to develop an unprecedented resort product in the Caribbean region. "Our partnership with Jack Nicklaus and his design team to create a Signature Course for Baha Mar marks the beginning of a strategy to bring together the world's most recognized and respected brands for a 'best of the best' resort experience," said John Forelle, Vice Chairman and General Counsel of Baha Mar Development Corp.