Nicklaus' October 29th Visit Signals
New Destination Golf Resort for North Lake Tahoe

Truckee, Calif. - Jack Nicklaus' hands-on approach to golf course design will be on display Tuesday, October 29th at North Lake Tahoe when he visits Truckee for site work on the Jack Nicklaus Signature Course at the Old Greenwood community.

Nicklaus will be arriving at the Old Greenwood site in the afternoon, and there will be candid photo opportunities available during the site visit, and then at a cocktail reception being held on the Old Greenwood property. Nicklaus will be available to answer media questions upon completion of the site visit. Destination Golf

Known for boating, swimming, hiking and biking in the summer, and skiing and snow sports in the winter, the Truckee-North Lake Tahoe area will now add destination golf to the mix. The Jack Nicklaus Signature Course at Old Greenwood will be a par-72, 7,600-yard championship golf course.

The Old Greenwood site features gently rolling terrain, mature pines and spectacular views of the Sierra Mountain peaks that surround Lake Tahoe. Need a line describing the site on which the course will sit. It will provide a nice transition to the Jack quote that follows. The Nicklaus Approach

"I believe that the surrounding environment helps determine the overall character of the golf course," says Nicklaus. "When I first look at designing a hole, I consider what Mother Nature has already created on that property, and then I try to mold a golf hole that fits very naturally with what is there. I don't believe in forcing an idea on a piece of land, but rather, I blend my ideas with the natural environment. I guess you could say that Mother Nature is a co-designer of each of my courses."

"The Jack Nicklaus approach to designing golf courses is a perfect fit for this beautiful piece of property," said Roger Lessman, managing partner for East West Partners at Tahoe. “Every Jack Nicklaus-designed course is unique because he lets the land guide the direction the course will take."

Eco-Friendly Golf Courses

In creating destination golf at North Lake Tahoe, East West Partners is taking steps to ensure it's being done “the northern California way," and that means eco-friendly. East West Partners' golf courses at North Lake Tahoe will be among the most environmentally sensitive courses in the world.

Nicklaus has been lauded over the years for his environmentally sensitive approach to golf course design. In 1996, he was presented the John James Audubon/LINKS Magazine Special Recognition Award for his eco-friendly approach to design. Two years later, Nicklaus was awarded the Golf Digest Environmental Leaders in Golf Award. Also, at least 40 Nicklaus Design courses in the United States are involved in Audubon International.

East West Partners is working closely with Nicklaus Design and Audubon International to ensure that strict environmental standards are followed in the design, such as preserving as many mature trees as possible, minimizing disturbances to the land, and using drought-tolerant plants native to the Sierra.

But just as important, East West Partners is ensuring that eco-friendly operational standards are implemented once the course is opened. These include water conservation, organic turf management practices, tree preservation, native plantings and efforts to remain attractive to wildlife.

East West Partners is a member of Audubon International, the leading environmental organization that provides environmental and conservation assistance to golf course professionals. East West Partners intends for each of its Truckee golf courses to achieve and maintain Audubon International certification.

The Old Greenwood community in Truckee, with only 99 single-family homesites and a world-class swim-tennis-fitness center, is under construction now. East West Partners estimates a July 2004 grand opening for the golf course. East West also manages the acclaimed Coyote Moon Golf Course in Truckee, and the company is planning a third top quality golf course at its Gray's Crossing community in Truckee. East West Partners is also the managing partner for new development at the Northstar-at-Tahoe resort.

East West Partners is a resort real estate development and management company, and its California operations are headquartered in Truckee, California. The East West umbrella includes a family of companies devoted to building, selling, managing and supporting high quality real estate projects in the most sought-after resort environments. Founded in Beaver Creek, Colorado, East West provides its customers with unparalleled vacation and home ownership experiences. East West Partners' principal financial backing is through Crescent Real Estate Equities Company, one of the world's largest publicly held real estate investment trusts.

For more information on Old Greenwood, visit http://www.oldgreenwood.com. For this press release and additional information on Nicklaus or Nicklaus Design, please visit http://www.nicklaus.com.

About the Jack Nicklaus Signature Golf Course at Old Greenwood

The Property

• Gently rolling terrain
• Stunning views of Mt. Rose, Brockway Summit, Sierra Crest, and Lookout Mountain at Northstar
• Tall, stately pine trees; sage underbrush
• Wildlife includes deer and hawks
• The Environment
• Northern California, Sierra
• 300 sunny days a year
• Summers that average 70 degrees, low humidity
• Family Friendly
• Practice and teaching facility oriented toward beginning golfers and children

The Course

• 7600-yard championship course, par 72
• Designed to offer enjoyable golf, regardless of skill level
• Nicely spaced, tall pine trees create natural openings for fairways and golf holes, and ensure that the course feels mature from day one
• Golf holes will maximize mountain views
• Arid summer climate provides perfect golfing conditions
• Homes screened by trees; no fairways with homes on both sides
• Water features and other enhancements to increase attractiveness to native wildlife

Directions to Old Greenwood property: From San Francisco or Sacramento: I-80 east, 2 miles past Truckee, take Prosser Village exit and turn right. From Reno: I-80 west, 2 miles before Truckee, take Prosser Village exit, turn left, go beneath freeway.