ClubLink Corporation Announces 124 percent Increase in 1997 Third Quarter Net Income.

TORONTO--(BUSINESS WIRE)--Oct. 27, 1997--ClubLink Corporation (TSE:LNK., OTC Bulletin Board:CLBNF.) ClubLink Corporation announced today third quarter and year-to-date results. Revenue for the third quarter ended September 30, 1997 was $14,779,819, up 51 percent over $9,789,845 recorded during the same period in 1996. Income before depreciation, interest and taxes was up 79 percent to $5,474,895 for the three months ended September 30, 1997 compared to $3,064,155 for the third quarter in 1996. Net income was $3,531,952 or $0.30 per share for the third quarter of 1997 compared to $1,578,264 or $0.18 per share in 1996.

Revenue for the nine month period ended September 30, 1997 was $26,724,622 up 42 percent from $18,862,529 recorded during the same period in 1996. Income before depreciation, interest and taxes was $8,569,066 for the year-to-date ended September 30, 1997 versus $5,908,344 for the comparable 1996 period. Net income was $4,576,474 or $0.39 per share compared to $1,506,593 or $0.16 per share for the first nine months of 1997 and 1996, respectively. Cash flow from operations was $6,904,000 or $0.64 per share in the nine months ended September 30, 1997 up from $4,016,848 or $0.49 per share recorded in the comparable period in 1996. -0-

                          3 Months                 9 Months
                        ----------------     ------------------
(000's)                  1997       1996      1997       1996
--------                ------     ------    ------     ------

Revenue                 $14,780   $ 9,790     $ 26,725  $ 18,863
Net income                3,532     1,578        4,576     1,507
Cash flow from operations 4,410     2,432        6,904     4,017

Earnings per share         0.30      0.18         0.39      0.16
Cash flow per share        0.39      0.28         0.64      0.49

ClubLink broke ground at its 45-hole RattleSnake Point development in mid-August 1997 as planned. Bruce Simmonds, ClubLink's President & Chief Executive Officer, said, "We are very satisfied with the strong, unprecedented demand for this new ClubLink facility and are well ahead of our construction schedule. New members additions to date total 248 with most selecting to benefit from the interim playing privileges at other ClubLink facilities pending the anticipated opening of Rattlesnake Point in June 1999."

Completion of ClubLink's previously announced acquisition of 36-hole Aurora Golf and Country Club is scheduled for November 18,1997. Aurora is situated within close proximity of several of ClubLink's courses and will benefit from the management and marketing synergies realized by other ClubLink facilities.

Mr. Simmonds also said, "ClubLink continues to increase its investment in GolfSouth through secured loans to GolfSouth for its recent acquisition and current renovation of the 36-hole Foxfire Resort and Country Club in Pinehurst, North Carolina, and its construction of several new GolfSouth courses in the Washington, D.C. area and at Louisiana State University."

ClubLink is Canada's largest developer, owner and operator of high quality golf clubs and related residential real estate development.

CONTACT: ClubLink Corporation

Mr. Bruce S. Simmonds, 905/841-3730

905/841-7033 (FAX)

or

ClubLink Corporation

Mr. Kim S. Robinson, 905/841-3730

905/841-7033 (FAX)