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Queens Gap

June 19, 2006

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Jack Nicklaus Signature Course adds distinction to Luxury Residential Resort Community in picturesque Western North Carolina mountains

LAKE LURE, NORTH CAROLINA—Sitting atop the mountains of Western North Carolina and in one of the hottest luxury real estate markets in the nation, Devinshire Land Development Company knew what it had to do to truly be king of the hill(s) with Queens Gap and make their newest development the area’s most sought-after property.

"We knew that even with our world-class luxury resort and equestrian amenities, we would need our golf offering to be at the game’s highest level," said Devin McCarthy, developer of Queens Gap. "And to get to that level, only one name could get us there: Jack Nicklaus."

With a menu of amenity offerings unlike any in the region or on the East Coast, Queens Gap, a luxury residential resort in Rutherfordton, N.C., has added its signature item in a Jack Nicklaus Signature Golf Course.

"Before we ever put pencil to paper or shovel to dirt, we know the canvas exists for something truly special at Queens Gap," Nicklaus said. "The mountainous terrain and naturally occurring elements, like large boulders and mountain streams, provide us a challenging, interesting and unique opportunity. With the impressive and dramatic long mountain views all along the course, the vistas at Queens Gap will be spectacular."

Every Jack Nicklaus Signature Golf Course features extensive personal involvement by Jack Nicklaus, with numerous visits to oversee the design process—from the first walks of the raw property to opening day.

"What goes into creating a project of this magnitude is the collaborative effort of a dedicated team, but what eventually ends up on top of that piece of ground will not only have my name on it, but a lot of me in it," Nicklaus added. "When I am given a piece of property and am asked to design a golf course, I take my most important cues from the person who hires me. I want to create a golf course that will fulfill the owner’s needs, desires and goals. When the golf course is completed, I evaluate my success in terms of whether I have met those criteria.

"My job is to turn the vision Devin and his entire team have into a golf course that the members will be proud of the day it opens. If Queens Gap is happy when we are finished, then I feel we have been successful."

Along with the Nicklaus Signature Course, the 3,500-acre private development of Queens Gap will offer residents and guests an equestrian center, a state-of-the-art tennis complex, a resort-style pool, luxurious clubhouse, and an outfitters lodge for fishing enthusiasts. Other lavish amenities include a spa, fitness and wellness pavilion situated on a primary mountain ridge, which affords 80-mile views across the surrounding mountain ranges, miles of walking and hiking trails leading to picturesque waterfalls, and fly-fishing in the waters where the Broad River and Cove Creek merge. Both of these bodies of water are protected trout waters and are loaded with an abundance of bass and bluegill.

Queens Gap is ideally located just a short drive from three major Carolina cities—an hour from Asheville, 90 minutes from Charlotte and 75 minutes from Greenville, S.C.

Reservations for Legacy Founders Agreements with special purchase incentives are now being accepted. Queens Gap’s initial property release is scheduled for fall 2006.

Nicklaus Design, the global firm founded by golf legend Jack Nicklaus and owned by the Nicklaus family, is widely regarded as the world’s leading design firm with 300 courses open for play in 28 countries. Of those, Jack Nicklaus has been involved in 247 courses. At least 47 Nicklaus Design courses have been ranked in various national or international Top-100 lists, and by the end of 2006, at least 79 Nicklaus courses will have hosted a combine total of more than 500 professional tournaments worldwide or significant national amateur championships.

For additional information on Queens Gap, please visit www.queensgap.com. For this press release and more information on Jack Nicklaus or Nicklaus Design, visit www.nicklaus.com.

Contact:
Queens Gap

Devinshire Land Development Company

James Hopkins, Broker In Charge

315 Oak Springs Road

Rutherfordton, NC 28139

Tel: 888-388-4640

Email: sbarfield@queensgap.com

Nicklaus Design/Nicklaus Companies

Scott Tolley

Director of Communications

11780 U.S. Highway #1, Suite 500

North Palm Beach, FL. 33408

Tel: 561-227-0300

Fax: 561-227-0351

Email: scott.tolley@nicklaus.com

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