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Shanghai, China
28th April 2009

Asia has truly arrived on the global golf stage: the HSBC Champions tournament in China has been elevated to the elite stable of World Golf Championships events, the International Federation of PGA Tours, the China Golf Association, IMG and HSBC announced today.

With a US$2 million increase in prize money to US$7 million and a revised qualifying criteria, the first World Golf Championships-HSBC Champions will take place at Shanghai’s Sheshan International Golf Club from 5 to 8 November 2009. World Number 1 Tiger Woods and defending champion Sergio Garcia have already confirmed their entries into the world-class field.

“This is one of the most significant steps ever taken in the globalization of golf, and one of the most logical. HSBC and IMG have built the HSBC Champions to a point where it was obviously the tournament outside golf’s traditional heartlands that was tailor-made to be included as a World Golf Championships event,” said PGA TOUR Commissioner Tim Finchem, speaking on behalf of the International Federation of PGA Tours. “World-class golf has arrived on this continent and the map of the golf world may never look the same.”

Zhang Xiaoning, Director of Multi-ball Sports Administration Center, General Administration of Sports of China, Executive Vice President and Secretary General of China Golf Association added, “We welcome the upgrading of the HSBC Champions to a WGC event. This will be the main force driving the development of the sport of golf in China. We will actively coordinate with all parties involved to reach a common understanding that is in line with the CGA’s guidelines, in order to ensure the success of the event. We are very grateful for HSBC’s efforts.”

The WGC-HSBC Champions will not only maintain the tournament’s format of bringing together tournament winners from all over the planet, but will also include the best players from the Federation’s Tours.

“Following four very successful years we are delighted that HSBC is continuing its sponsorship of the HSBC Champions,” said George O’Grady, Chief Executive of The European Tour. “The European Tour is very happy to support their extended commitment to the tournament, and the enhanced status of the tournament to a World Golf Championships event thus seeing the PGA Tour join as a sanctioning body, meaning that the event is now sanctioned by all the world’s Tours.”

The announcement marks a major milestone in HSBC’s plan to create an Asian golf event of global significance, said Richard Yorke, Group General Manager, President and Chief Executive Officer at HSBC China. “Our understanding of the developing trends in Asia, and particularly in China, allowed us to identify the likely growth of golf’s popularity among our clients and potential customers and to then grow and develop an event of global significance. This is a showcase for our business. We identified Asia’s growing desire to be a venue for world-class sport and in less than five years we have helped create a world-class golf event here in China,” he said.

The decision has been greeted with unanimous approval by the golfing fraternity. Tiger Woods, the world number one and winner of 14 major championships, said, "I played in the HSBC Champions in 2005 and 2006 and I am looking forward to returning to Shanghai this November. It is an event that symbolizes the amazing progress of golf in Asia and its new World Golf Championships status underlines how firmly China has established its place on the global golf calendar. I enjoy playing around the world when possible, and having a WGC event in China is very important to the global growth of the game."

The 2008 HSBC Champion and current World Number 3 Sergio Garcia added: “I was delighted to win the HSBC Champions and am looking forward to defending my title in November. The tournament certainly has a very special feeling and many of the players already referred to it as Asia’s Major. Now there is no doubt about it. It is officially recognized as being a cut above the rest.”

Padraig Harrington, reigning British Open and US PGA Championship winner, said, “I think this is an excellent decision by the International Federation of PGA Tours. The HSBC Champions established itself immediately on the players’ schedules and has gotten better and better every year.”

The benefits are likely to be felt far beyond China’s borders, according to Mark Steinberg, Senior Corporate Vice President, IMG Global Managing Director, Golf, who said, “It’s impossible to overstate the importance of this moment for Asian golf. HSBC does a lot for the game of golf and its vision will ensure this will be a very successful addition to the World Golf Championships stable.”

The 2009 WGC-HSBC Champions will return to the highly-rated Sheshan International Golf Club in Shanghai. The tournament will remain in Shanghai for 2010 to coincide with Shanghai hosting the World Expo. Thereafter, the venues are to be disclosed in due course.

Richard Cheung, Chairman of Shanghai Sheshan International Golf Club said: “We take a lot of pride in the new enhanced status of the HSBC Champions. We feel we have played a part in establishing and growing the event from its conception and have enjoyed some very positive player feedback. It is a very special honor for our club to be the host of a World Golf Championship.”

Players will qualify for the 2009 WGC-HSBC Champions according to the criteria set forth in the attached document.

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