Company signs agreement

SCOTTSDALE, AZ

Granite Golf Corporation recently announced that they've signed agreements to manage clubhouse, golf course operations and/or construction management at three clubs: The Legends Golf & Country Club in Ft. Myers, FL, Five Oaks Golf & Country Club in Lebanon, TN, and Solivita at Poinciana Golf Club in Poinciana, FL.

The Legends Golf & Country Club in Ft. Myers, FL is a semi-private club developed by Lennar Homes. The 18 hole championship golf course was designed by architect Joe Lee. An 28,000 sq. ft. clubhouse featuring a 19th Hole, dining facilities, game room, meeting rooms and amphitheater is near completion.

Five Oaks Golf & Country Club, in Lebanon, TN, is strategically located near interstate highway systems, other major thoroughfares and the Nashville International Airport. The Five Oaks golf course and residential community is situated on a 500-acre tract providing a setting of rolling hills and panoramic views. The 18 hole championship golf course will open in the fall of 2000 and will include a full service clubhouse, pool and tennis facilities.

Solivita at Pointciana Golf Club, part of Avatar's new 3,300-acre active adult residential community, is located 25 miles outside Orlando, FL. The 18 hole championship golf course was designed by Central Florida golf architect Ron Garl, and features gentle contouring as opposed to steep slopes. The semi-private course is scheduled to open in the Spring of 2000 and will include a fully equipped pro shop, men and ladies' locker rooms, and a restaurant.

"We are extremely excited about the three new contracts," stated Elliot A. Lewis, Chairman and CEO of Granite Golf. He added, "We have been focusing on the more profitable aspects of our talent and resources and the addition of three new contracts will further the position we are striving for in the golf market."