MasterCard extends marketing agreement with PGA TOUR

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ORLANDO, Fla. -- MasterCard will continue its role as presenting sponsor of the Arnold Palmer Invitational through 2012 as part of a broad four-year marketing renewal with the PGA TOUR that was announced today at Bay Hill Club and Lodge.

MasterCard Worldwide executives joined PGA TOUR Commissioner Tim Finchem and Arnold Palmer to make the announcement on the eve of the 43rd Arnold Palmer Invitational Presented by MasterCard. MasterCard has been presenting sponsor of the event since 2004, which was renamed last year to honor the longtime tournament host.

"The foundation of MasterCard Worldwide's commitment to golf is its relationship with the PGA TOUR and the Arnold Palmer Invitational Presented by MasterCard," said Lawrence Flanagan, Chief Marketing Officer, MasterCard Worldwide. "Through this renewal, look for MasterCard to bring golf enthusiasts even closer to the game they love."

"We have enjoyed a wonderful association with MasterCard over the last four years and are delighted to know that it will continue and flourish for four more years with this extension," said Palmer, host of the prestigious Orlando tournament since moving it to his Bay Hill Club in 1979. "Reflecting its strong commitment to golf, MasterCard is one of the most important sponsors on the PGA TOUR and has brought a great measure of enthusiasm and innovation to our tournament."

In addition to extending its tournament affiliation, MasterCard will continue its longstanding Official Marketing Partnership with the TOUR, which dates back to 1995. As such, MasterCard will remain the "Official Payment System of the PGA TOUR." Key elements of this partnership include sponsorship of the TOUR's state-of-the-art Diamond Vision LED scoreboards provided by Mitsubishi Electric; advertising through a variety of PGA TOUR media platforms, including TOUR telecasts and PGATOUR.com; and the ongoing utilization of PGA TOUR and Champions Tour players for marketing activities and corporate events.

"MasterCard has been a valuable partner of the PGA TOUR for more than a decade and, more recently, with the Arnold Palmer Invitational," Finchem said. "During this time, MasterCard continually has developed some of the most innovative marketing programs on TOUR. We are extremely pleased to be in a position to announce this four-year extension with MasterCard, which will broaden its presence on the PGA TOUR."

MasterCard will continue to use tournaments for marketing and hospitality, although it is redirecting much of its emphasis from business customers to cardholders and card use. This strategy will entail developing new programs at select tournaments that include special privileges for cardholders such as ticket and merchandise discounts as well as playing opportunities.

The Arnold Palmer Invitational presented by MasterCard first was introduced as the Florida Citrus Open Invitational in 1966 at Rio Pinar Country Club in Orlando, before relocating to Bay Hill Club in 1979. Proceeds from the tournament benefit the Arnold Palmer Hospital for Children, which has been serving patients since 1989.