PADDY POWER MEDIA STATEMENT

$75m Tiger Woods Sponsorship Rejected

Following recent international media coverage of Paddy Power's negotiations with IMG to sponsor Tiger Woods, the company confirms that its initial offer covering a five year period for a total potential sponsorship of $75 million has been rejected by IMG.

Paddy Power remains keen to work with Tiger Woods, and will re-engage with IMG. An enhanced offer will be made, the details of which will remain confidential.