$1 Million Hole-In-One Contest May Prove Venture Capital Prize At Investor Invitational Golf Tournament.

SANTA MONICA, Calif.--(BUSINESS WIRE)--July 21, 1999--

A $1 million hole-in-one contest may end up being the venture capital prize for one lucky player at next month's Investor Invitational Golf Tournament and Awards Ceremony, hosted by Direct Stock Market.

To be held Aug. 9 at the Mountain Gate Country Club in Los Angeles, 144 investors, venture capitalists and entrepreneurs will compete over 18-holes in a tournament designed to encourage networking opportunities for business development.

"A lot of venture capital deals are made on golf courses, so we decided to host a tournament with the number one goal of bringing together entrepreneurs and investors," said Tom Flavin, tournament director.

"The $1 million hole-in-one contest adds a little spice to our tournament, and a hole in one actually may end up being a venture capital windfall," Flavin added. "After all, one million dollars makes a nice early-stage funding round for an entrepreneur."

Presenting sponsors include Direct Stock Market, UCLA's Harold Price Center for Entrepreneurial Studies at the Anderson School of Business, the Los Angeles Business Journal and Draper Fisher Jurvetson. RR Donnelley, Marsh USA Risk & Insurance Services, Cyber Centers, Crystal Beverage and Loeb & Loeb are supporting sponsors.

Information about the tournament, awards ceremony and registration can be found at http://www.dsm.com/golf/.

Making a hole-in-one shot is really not that much of a long-shot, Flavin said.

The National Hole-In-One Association, which provides insurance policies for hole-in-one shots, notes that over the last 10 years it has recorded roughly 150,000 hole-in-one shots, what the game calls aces. The association also estimates that there may be as many as 100,000 hole-in-one shots made each year by amateurs, but go unrecorded.

"In the past 20 years of insuring more than 200,000 tournaments, the association has paid out around $30 million in prizes," Flavin said. "And of course, whether it's the $1 million contest or networking over 18 holes, this tournament gives every player a chance to make a shot that really pays off."