Global Edition

National Golf/American Golf merger

8.30am 5th August 2002 - Corporate

National Golf Properties, Inc. (NYSE:TEE) has announced that all of the conditions to effectiveness of the restructuring agreements entered into by American Golf Corporation the primary tenant of National Golf, and American Golf’s lenders on July 23, 2002 have been satisfied. As previously announced on April 1, 2002, National Golf, American Golf and certain affiliated entities entered into a merger and reorganization agreement providing for a combination of the two companies.

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