Sale of The K Club

Dr. Michael Smurfit is pleased to announce a definitive agreement to sell The Kildare Hotel & Country Club (?The K Club') in Straffan, Kildare, Ireland to Mr. Michael Fetherston. The transaction is expected to close in early 2020.

Dr. Michael Smurfit said: "Since opening in 1991, The K Club has and continues to be an incredible source of pride for my family, its members and its wonderful team. I would like to sincerely thank The K Club team and its members for their support and contribution over many years. There is always a time to move on. I firmly believe that the K Club's long-term interests are better served under a new owner and that Michael Fetherston is uniquely placed to build on the heritage and success of The K Club".

Mr. Michael Fetherston said: "I am delighted to reach an agreement to purchase The K Club which is both a unique and an iconic asset. Dr. Smurfit's foresight established The K Club in 1991 and his vision and sheer force of personality brought the Ryder Cup here in 2006. We are excited by the opportunities presented and we will build on The K Club's unparalleled reputation as both a hotel and as a golf resort".

-ENDS-

About The Kildare Hotel & Country Club
The luxury AA Five Red-star resort, located in County Kildare, Ireland, sits on 550-acre estate featuring a 134 bedroom hotel, a spa facility, two bars, one fine dining restaurant and conference facilities. The resort features two Arnold Palmer 18-hole championship golf courses ? the Palmer and Smurfit courses; together with two club houses, The K Club has hosted the 2006 Ryder Cup, the 2016 Dubai Duty Free Irish Open and thirteen European Opens. The resort facilities include the award-winning dining facilities including The Byerley Turk restaurant, Vintage Crop Cocktail Bar together with 2 restaurants and three bars within the golf course club houses. The conference and banqueting facilities are extensive ?extending to 18 rooms.

Visit www.kclub.ie