Nevada Bob's Files for Reorganization

Nevada Bob's Golf Inc., an Alberta Corporation (the "Company"), announces that an order of the Court of Queen's Bench of Alberta was issued today under the Companies' Creditors Arrangement Act (Canada) granting protection to the Company and its subsidiaries in Canada from proceedings by their creditors. PricewaterhouseCoopers Inc. is to act as court appointed monitor pursuant to the order. The Company has also sought and received creditor protection for its United States subsidiaries under Chapter 11 of the United States Bankruptcy Code. These orders have been sought by the Company as part of its overall restructuring and revitalization plan, with the consent of its secured lenders. Further, these orders have been granted in respect of the Company and its subsidiaries only, and not in respect of any of the independent franchisees in the Nevada Bob's system.