INTERNATIONAL PRESENTED BY QWEST

July 31, 2002

Jack Vickers, Jr.

MR. VICKERS: As always I'd like to welcome everyone and thank you all for coming back and given us your support. We need that and that's a very key integral part of the tournament is the support of the press and media. We appreciate your being here and appreciate your support. I guess I will take questions.

Q. You weathered the storm of not having the date you wanted for how many years. Now, you are finally back next year in the rotation you wanted.

MR. VICKERS: Right.

Q. Is that good now? Are we finally where we want to be?

MR. VICKERS: That's booked.

Q. What do you think the advantage of being in The INTERNATIONAL PGA TOUR World Series rotation brings to the tournament?

MR. VICKERS: Well, as you know, from year 1 we emphasized the foreign player element and trying to get the best players in the world and you can't get them if you spread that deal without where they are gone for four, five weeks. Three is about the maximum that you count on that they will stretch it. So when they come here and can play three good tournaments in a row like that, with sizeable purses, I think we all feel - it isn't just me - that that helps us with the foreign players and I think when you got a good foreign contingent that obviously rubs off on our people, our players, and I think that helps get everybody here. Not that we don't have a good field and we always have a good field, but there's always a few that the foreign element, that the foreign group that we would like to have here that we just can't seem to get because of those conflicts. I hope it helps us and I think it will. At least it doesn't hurt us and I know that the way it is and the way it has been the last few years, it definitely does hurt us. So we'll see if we can improve on upon our efforts to get the best foreign players here and the best players in the world here.

Q. Can you talk about your idea for the tournament a long time ago, trying to draw those international players, why was that important to you and is it tougher now to differentiate your tournament from other tournaments since there are so many foreign players on Tour?

MR. VICKERS: Well, there are more foreign players on Tour, no question about that. And I think that's due to the weakness of - I want to be careful how I put that - the European Tour is just not as strong as it was, let's put it that way, and they have lost some players to the U.S. tour and I believe that to get the good -- the best players, including our own, we got to be on top of things and we got to lead the way. We have tried to do that and I think in answer to your question, did we intend that? Yes, we did intend that. We, from day 1, first year had 16 exemptions which was and unusually high number compared to the other tournaments because we asked for it with the idea and the logic behind that of wanting to get the best foreign players we could around the world. We couldn't do that without those extra exemptions and that was when Deane Beman was Commissioner, and he gave us that right and we have had that ever since and we have pursued it and we have worked on it. We spent a lot of time and effort behind the scenes with these fellows whether they are foreign or domestic and of course the foreign are more difficult but we don't miss any tricks in trying to stay up with them. In the earlier years we even sent people such as Kaye Kessler here and others to a number of the foreign events. I went to some. Larry Thiel went to some. So we worked at what we were trying to do and we think, with our name, that was all part of it too, and that was from day one and so the emphasis was there and it spoke for itself. We continue to push that.

Q. With the controversy surrounding Augusta this year, its lack of women members, came up again at Muirfield, the fact that you guys kind of found yourself in (inaudible) controversy a dozen years ago, can you talk about the membership of this club, black members , women members --

MR. VICKERS: No. 1 I was not in the Shoal (phonetic) Creek controversy. I didn't get in. They ran their business and I ran our business. And so that's a closed book.

As far as this present issue that popped up I feel that that's and issue that's none of our business. It's doesn't affect us. We have had women members here from the beginning, almost the beginning. We didn't have them from the very beginning because you couldn't find them. Now they have gotten popular all of a sudden. But in answer to your question, being very forthright about it, we have no objections to the women members and I find it sometimes amazing to me that people try to deprive other people of the privacy of a private club and having the kind of a club they want. I love having the women. To tell you the truth, it's hard to get them. I have asked a number of women about the club and they kind of smile at me and all, but we don't even -- even with our own members and their wives, we have got, oh, kind of a small contingent that play; probably got about 20, 25 gals that come out and use the course and play from time to time. It's funny because when we were building this and we put the -- put the four tees in 1, 2, 3, 4 birds, and the women, the few that we had at the time, said, well where are the ladies tees. I said you have got a choice, the 1, the 2, the 3 or the 4. You want women's rights, you have got them here. (Laughter) You go play whichever ones you want. Because if I had named those four birds the ladies tees, you'd never get any of these old men to go down there and play them. So we have been very flexible in that and it's worked out very well. I think one reason that we don't have more women players is this course is pretty testy. And even though we give the women's tees a big break if you have gone out and having paid attention to them, they have, you know, we have compensated for the difference in distance considerably, but it's like the old story, you know, you try and compensate with the tee system and if you try and play -- I always used to use Nicklaus as the criteria. I guess these days it would be Tiger Woods. But if you compensated enough distance between the back tees and the front tees to try and get a little more competitive, it's a joke because if you are trying to get that back guy where he can hit it where the front guy hits it, then from 150 yards in he's playing even with him, he's going to kill you, he's going to kill a high handicapper. So on this golf course I tried to compensate for that where the shorter tees definitely did have an advantage where as the higher handicapped guys who'd get up there and irrespective of how long the guys were back here -now the day with the equipment and the ball situation, so on, that gap is narrowed. But that was the point -- as a matter of fact, I always remember talking to Jack, I said, you know, this is a joke, you go around the country and people don't think about it, but all of a sudden they are playing you even from 150 or 60 yards, that doesn't get it done. So anyway that's kind of the background on that.

No, we, as far as the women's deal is concerned we have and open mind, and we'll choose them as we choose to choose them, and as I said, I have had a hard time getting them. That's more my problem. So as far as I am concerned that issue, I think, is a ridiculous issue, kind of, because it doesn't make any sense to me. Everybody is trying to run everybody else's business. As far as I am concerned -I happen to be a member of Augusta - and I don't want to speak for Augusta nor am I going to get in or make any statements about trying to run their business. They are very capable of running their business and they will continue to be that way, and as far as I am concerned, they are in good hands.

Q. Sponsorship is a problem all over the PGA TOUR, 13 tournaments have not had -- either don't have sponsors or are changing sponsors right now. Your sponsor is making some headlines you probably won't -- are not real happy about seeing. What is your sponsorship arrangement with Qwest and do you have someone waiting in the wings should that contract not be renewed?

MR. VICKERS: Well, let me answer that this way...

I, nor you, nor any of us know the intricacies of the things going on in the telecommunications business today. They seem to have all been on the track of the accounting situation and I don't know where it's all going to come out and no one else does. It's a tough issue to deal with, and I know as an ex-CEO in the corporate world, I counted very heavily on my auditors. When it came to issues like they are dealing with today, when the auditors signed off on a procedure or a particular accounting situation, that's what you really rely on. I was not an accountant myself. And most CEOs aren't, but they have to account on these people. So there was a breakdown in the system apparently and now everybody is second guessing the system so with the federal government included I don't know where in the hell it will end up; nobody else does. It will probably be a worse mess when they get through with it than it is right now.

In respect to our sponsorship, we have got long-term contract with Qwest. I believe we have four years left on that contract. Anyway, it is a longer term contract and yes, I am nervous about it because of the situation that I am reading. In earnest to them, I don't know the facts, and I have many good friends in there starting at the top on down and I am sure when they are ready to talk to me they will call me in and we will talk.

And until such time as they do, I have got a contract. That's what I am counting on. And if I have to make some compromises or I have to find another sponsors that will be and assignment that we'll accept gracefully and move on down the pike.

You can't kill a dead horse and if we have to contend with that and I hope we don't - I wish them well. But I just don't know at this point in time. They are a good company. They have got a lot of good assets, and the unfortunate thing is they have got a bad economy right now for the time being, I think, particularly in their industry, I don't know if the economy is as bad as it is for them. And obviously they have brought some bad things as a group all of a sudden at these particular times and that's making it pretty tough along with the accounting firms. So I don't know where it's all going to end up.

I know this: That we run a good tournament. We're well received, I think, the Tour (inaudible) at the back of the room from the Tour, I think if you went down unbiasly, keep me out it, and asked them what they thought of The INTERNATIONAL I think we would rate right up there at the top.

I want to continue to run our business in an A class manner, and I think if we do that, the rest of the details and problems that arise or might arise, will take care of themselves. In answer to your question, no, we're not talking to anybody else. Yes, we have a lot of friends out there in the corporate world, and I think it will -- we'll be able to cope with the problem no matter what the problem is. Might be of interest to you that we have lost two contributing sponsors last year, they were looking at bankruptcy in dotcom world, and we lost both of them 60 days before the tournament. We had probably eight companies, one then knocking at the front door and we replaced them in two weeks and they have never missed a beat for the tournament. So we have always had very, very strong sponsorships. I think we have got probably the strongest sponsorship of anybody on the Tour. We've never asked the Tour for any help in that respect. They know that we have done a good job on that. We have always had good sponsors. And I might add, we not only have good sponsors, but going back to the original time we wanted four sponsors; I wanted five companies, and that was it. I signed four companies out of five-- out of seeing five. So that was a pretty good batting average. Then I lost two later and went back to see like two or three companies and got the two replaced. So we have had -- and I don't mean to say we're brilliant or lucky, I don't know which, but we have been able to take care of ourselves.

Q. What are your hopes and dreams three, four, five years down the road for the tournament?

MR. VICKERS: Well, we want to continue to try and build the tournament. It's a game of golf and it is what it is and everybody has a different perspective of what is the best or what they'd like to see. Some people like fast greens, and hard greens, others like hard greens and slow greens and some want birdies and eagles, and other people, you know, I think enjoyed the British Open this time. It was tough and our Open was tough. That golf course at the British Open was not a long golf course. But you can see what they did. It was tightened up and the rough was tough. We could do that here. I think that's probably more of the answer to the problem out here with the equipment and ball issue than probably anything else. Because a lot of these places, a lot of these different clubs, golf courses, don't have much of a choice. They are hemmed in and we're fortunate. I told Tim Finchem, if he wanted to play this thing at 10,000 yards we'll figure out a way to do it if that's what they want.

But I think that's not the answer. I don't think length, even though I am a member at Augusta, I think they chased it with distance. And I think they did and excellent job that job they did was miraculous, you can't hardly tell the golf course was tough, those of you that have been down there to see it. I think maybe it made a little difference in the tournament. But for the most part, yes, it played a little longer, but I don't think it affected but few people, few players. Now they are in a position where if they are going to emphasize distance, they are in a mess because they have nowhere to go now, they used up all the land that they have got. So I don't think that is the answer. I think the answer is in the ball. I don't even mind the equipment, but the equipment is made to hit these lively balls and I am a big advocate of doing something about the ball. I think it's and absolute must. And if the USGA and the R&A can get together, which I think there's a good chance and I know they have done a lot of talking about it right now and I am hoping that they will come up with a satisfactory answer. I don't get tears in my eyes over the manufacturers because you know, whether it's a live ball or dead ball, golf is going to go on and they are going to sell the golf balls. So that's not a good argument in my book, and some people say well, you have got to stay up with things and we're in modern times and everything is improved and so on. But when you stop to think all the great architects in this game and all the great golf courses that have been built, and they are rendering a lot of those deals negative. I can just go through it if I had a list of the courses and just name one after another that in our top 50, 75 or 100 golf courses and I bet you three quarters of them haven't got anywhere to go. And so not only ruin the architect's painting, so to speak, but you don't have a canvas there to draw another picture on. It's sad. It's one of our national treasures and we're letting it get clobbered around over bucks to the manufacturers to improve equipment and improve balls, but I think it's going the wrong direction. Something has got to be done about it.

Q. Speaking of changes, last year's winning score was about 15 points lower than the previous four years. Why do you think that was and does it have to do with the change in 8 and 14 (inaudible) I think a lot of players are also wondering about the back tee (inaudible) --

MR. VICKERS: We will use the back tee on 8 in at least two of the rounds. That's kind of feeling our way there. We have made a few -- we got -- it was brand knew last year, we have got some complaints about it, but I took 6 or 7 of the better players down there and looked at it, they had no problem with it. If we could have taken some women players down there we would really had a mixed bag. It's a tougher hole with that new tee because they have got to place the ball out there where they are going to hit that drive and before they just hall off and hit it and they can knock it up there far enough that they are hitting a mid-iron, the better players, up to the green. As a matter of fact, we had an assistant here working, he hit that everyday with a driver and 7-iron everyday he played it. So I don't have a problem with that, but if you are going to call it a par 5, let's make it a par 5; not a drive and a 7-iron or a drive and 6-iron, let's playing it challenging and that's what we did and we moved -- took the right half of the fairway out with that back tee, if you are going to get to the green. Fairway is still there if you want to hit it up there, but if you are going to get it to the green you have got to hit it in the left half of that fairway. And so we did take the suggestion of some of the people I took down there and looked at it. We cut that rough on the sideline back about 30 yards and then continued to bring it out to the left of that lone tree up there. So that's now a fairway about, oh, I don't know, 15 yards left of that tree, maybe a little bit more than that, and if you hit it over there, that gives them a little more room because that plays with the terrain and it will come right back into the fairway. Whereas last year it was rough and they hung up in there and they are standing, you know, on the slope, and that was just killing any chance of getting it home over there.

I didn't want to be brutal about it, but if I was playing a National Open or if the USGA was calling the shots it would be still rough. (Laughs) So I don't think it's unfair. I think it just make it a little bit more of a challenging hole, and one of the guys said well, you know, one of the long hitters - I won't mention any names - he said -- he wasn't complaining either but he said, I used to just hit it just straight up there and knock that iron right on the green. I know, I said, that's the reason we moved the tee back. So yeah, I think some of the changes we made -- 14 is another one. Tighter now. Same amount of room there, but nothing to the left, and visually it looks narrower, and so it tightens the hole up particularly with the water sitting over there because that's penal. So a guy is going to take a second breath before he just halls it off and pops it down there. I think 11 is more beautified than it is tougher. And I think 14 -- excuse me, 4 is definitely a tougher hole than it was with the change in that green and the pot bunker in back and the big bunker in front, it's a larger green. I think it is a better hole and I have talked to a number of the pros - I was out there yesterday talking to some of them and they all feel that it's definitely a better hole.

So we keep trying to make innovative changes on that.

We have done most of everything that we kind have had in the files. I don't anticipate any big changes coming up this next year. We'll probably continue to plant more trees, but that's and ongoing situation. We're going to lose some trees too because of this drout.

Q. Are there any plans in the future to tighten up the course?

MR. VICKERS: No, I mean, it's one thing if we were having a National Open here. For example, 17 I won't leave that tee up there where it is. I'd either -- probably do both -- probably take the tee back on the other side of the lake, the pond and I'd probably play it as a par 4, and I'd put another big trap up there in that right pocket of the fairway up there, that landing area, but you know, we are here to have a Championship that's meaningful and yet we want the guys to have a good time and have fun and the fans like this format. They like the action in it, and kind -- it's kind of funny to me, but they all say, you know, play it with and Open throttle and I think that's what kills you here because you get playing with and open throttle you are going to drop some double-bogeys up pretty quick. The better players have learned that over the years. So you have noticed how they conduct themselves out there with their club choices and so on. But no, if we were going to have a national Open you'd definitely draw the fairways in and I am sure if I stood over there at the side and the USGA came in and wanted to set the course up, that's what will happen. They'd tighten it up.

Q. (Inaudible)

MR. VICKERS: We did two changes last -- this past off-season, we -- I am sure you know about them, but on 5, we brought that collection bunker forward about 10, 15 yards from where it was, giving us more cup surface on the green and making that shot to the middle of the green a little more fair, being that the type of shot it is a long shot, so we probably since made that hole a little easier. However, I think the collection bunker is a little tougher. It's deeper. We didn't do that on purpose. It was terrain the way it came out. And then we took the that lower trap on the right side, we took it clear out and put another trap up on the right side of the green. A lot of people haven't even noticed it. Same on 18 we raised the green about six or eight inches - tore the whole green up, correcting some drainage and so on, and raised it about six, eight inches and deepened the right trap and the back trap. So they are definitely tougher. That's really about all we did out of them flat trees out there last year.

I don't see much this coming year in changes like that. We may tear up two more greens to hammer that Po. I keep fighting that Po like it is going to wear me out. (Laughs) but we're determined that we're not going to let it get in here. We'll keep after that and we probably will resurface a couple of the greens that we haven't touched. We got two left that we haven't done and then we're going to resurface the putting clock up there which is full of Po, but the driving range and flatten that driving range out and instead of having that dip in it we're going to make it all level and bigger and get a little more room to put people and not just beat it to death. That's kind of and eyesore this year. I am a little ashamed of -- we had our member guest and they got up there on the top side of it and probably shouldn't have even gone up there and with this weather we couldn't recover it fast enough. So anyway, when you bring the guests, you know, you want everything to look pristine and that didn't look very pristine to me. Anyway those things happen.

Q. You talked about the National Open a couple of times. USGA has it scheduled out I don't know how many years down the road. Would it still be your goal to bring a U.S. here to Castle Pines?

MR. VICKERS: I would love to have the Open here. But I had a break in my contractual obligations before and I talked to the Tour about it and they were willing to go along with me if I could get it. Well, I had it, I think, I think I would have had it. Southern Hills got it because I backed off. That was the first year that they went to wanting to lease the facilities and I have just got too much of an investment here, the club does, in cottages and varying cable and all the things that we have done here. It is a lot of dollars and I never could see the wisdom of having the Open if we were going to turn it over to the USGA and they wanted to lease it. I mean, they can't go anyplace except a place like Pebble Beach with DelMonte lodge where they put all their people up in our cottages, and they come in here with the TV and put a plug in and they are in business, instead of cables all over the place. And I just didn't think it was a smart business deal. I thought it was a dumb deal. So I have said, you know, if you are going to go that route and you are adamant about it, I am out of here. So I am not going to chase it. We're having fun with what we're doing and we're successful with what we're doing, and I don't -- as much as I'd love to have and Open, I don't know I am getting to the age where I don't know if I could stand the politics of going through a deal with it again. They can't make a decision if it sat right out there in front of them. So I am not in a hurry to get on with that.

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