PING executives announced that a newly formed company, PING GOLF JAPAN KK, began handling the sales and
distribution of all PING golf equipment in Japan, as of Jan. 4, 2005.

“In an effort to get closer to our customers, we are establishing PING GOLF JAPAN KK,” said John A. Solheim, chairman and CEO of Phoenix-based PING. “We believe success starts with designing the right product with leading edge technologies, and then providing the right service — before and after the sale. This venture will help us achieve this customer service goal by delivering custom-fit clubs in a timely manner throughout Japan.”

PING GOLF JAPAN KK, which assumes the responsibility currently held by PING JAPAN, will focus on providing the Japanese golf market with products and services consistent with PING’s reputation throughout the United States and
Europe. The facility, located north of Tokyo in Saitama, will include sales offices as well as an assembly facility that will be able to offer rapid delivery of custom-fit product. The new company will strive to ship customized product within 48 hours of receiving the order.

In addition to technologically-advanced product from the United States, PING GOLF JAPAN KK will offer a full range of golf equipment, including irons, woods, putters, bags and accessories that are designed and developed for the
Japanese consumer. PING GOLF JAPAN KK will retain virtually all of PING JAPAN’s employees through the transition. The newly formed company will also assume the fitting studio facility from PING JAPAN, located at 3-24-1 Sakura, Setagaya-ku, Tokyo, Japan.

“Our distributor, PING JAPAN, has done a good job of structuring our distribution in the Japanese market over the last seven years, but we feel we need to have a stronger presence in Japan in order meet the needs of the
Japanese consumer,” Solheim said. “We just cannot give this market the attention it deserves from Phoenix.”