Acushnet Company Awards More Than $100,000 in Scholarships

Fairhaven, MA (March 25, 2004) - Acushnet Company, comprised of the Titleist, FootJoy, Cobra and Pinnacle golf brands, announces the recipients of its 2003 Acushnet PGA Apprentice Scholarship Program. Through this program, Acushnet Company provides $3,000 scholarships to the top PGA of America Professional Golf Management graduates from each of the 41 PGA Sections. A total of 43 scholarships are being awarded worth a total of $129,000.

"Supporting Apprentice Education is a core element of our PGA support portfolio and philosophy," comments Peter Broome, Vice President, Business Development & Partnerships, Acushnet Company. "Acushnet Company views this initiative as an investment in the future of the industry, as today's Apprentices will be tomorrow's leaders. We are proud to be assisting future PGA Professionals in their educational pursuit."

"Acushnet Company, a leader in the golf industry, has long been a supporter of PGA Professionals and the PGA of America's grass roots efforts to grow the game of golf," said PGA of America President M.G. Orender. "Through Acushnet's commitment, more aspiring golf professionals will have the opportunity to participate in the PGA Professional Golf Management Program."

Since the program's inception in 1998, Acushnet Company has provided nearly $1.5 million in educational support to Apprentices. The current Acushnet PGA Apprentice Scholarship Program supports the participants in the 3rd and final level of The PGA Professional Golf Management Program.

Continuing its commitment to educational support, Acushnet, in conjunction with the PGA of America, announces a new and improved program for 2004. Acushnet Company will provide in excess of 120 $1,000 scholarships to the highest achievers in each PGA Section participating in the 3rd level of the 2004 PGA/PGM program. The number of scholarships available in each PGA Section ranges from 1 to 4 based on the PGA Section size. This initiative will provide a scholarship to the top graduate from each PGM college program. There also will be additional scholarships available to the top 25 graduates not otherwise recognized by a PGA Section or PGM Scholarship, bringing Acushnet's financial assistance to approximately $130,000 for 2004.

To learn more about the program, please visit your local PGA Golf Professional. Below is a listing of the Scholarship Winners.

Acushnet Company comprises the golf business of Fortune Brands (NYSE: FO). For more information, please contact Joe Gomes, Director of Communications (508.979.3211) or visit us online at www.titleist.com, www.footjoy.com, www.cobragolf.com or www.pinnaclegolf.com.

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