Pacific Life Open Economic Impact (9/06)

  PACIFIC LIFE OPEN ECONOMIC IMPACT TOPS $219 MILLION  Increase Of More Than $119 Million Seen From 2001 Study  INDIAN WELLS, Calif., September 18, 2006 – The 2006 Pacific Life Open, the ATP Masters Series and Sony Ericsson WTA Tour Tier I tennis tournament held at the Indian Wells Tennis Garden this past March, generated an estimated total gross economic impact on the Coachella Valley regional economy of $219,799,903, it was announced today by Tournament Chairman Charlie Pasarell. This represents an increase of $119,732,022 since 2001 when the first Pacific Life Open economic impact study was conducted and the estimated total gross economic impact was $100,067,881.  Total gross economic impact is derived by calculating the direct ($139,113,863) and indirect and induced ($80,686,041) economic impacts and then adding them together to show the incremental spending above and beyond what would have been expected had the Pacific Life Open not been held in the area.  Direct spending is based on the amount of money out-of-town visitors, sponsors, exhibitors, and vendors contribute to businesses in the region as well as the money spent by tournament organizers in the local community. Indirect and induced impact is the re-spending of the out-of-town visitors money by the regional businesses in the regional economy. In 2001 the direct impact was calculated to be $63,334,102 and the indirect and induced economic impact of the event was estimated at $36,733,779.  "We were certain the numbers had grown significantly with the increase in the player field and the additional sessions we added since 2001, but we were pleasantly surprised with this report." said Pasarell. "This report reflects the economic importance to the Valley and how fortunate we all are within keeping the event here for many more years to come."  A total of 270,453 people attended the tournament over the two-week period in 2006. On average each person attended the tournament 3.7 days resulting in 73,693 unique spectators. Seventy-nine percent of these spectators traveled from outside the region equating to 58,365 out-of-town visitors from which the economic impact is calculated. In 2001, 208,596 people attended the tournament and approximately 40,000 unique spectators attended the tournament with 79% traveling from outside the region equating to 31,354 out-of-town visitors.  The study, conducted by George Washington University, uses estimates for direct and indirect impact that are based on carefully selected methodology, survey results, and the data provided by the organizers and sponsors. While the study is not free from limitations, reasonable efforts are made to provide the best quantitative estimate of the increased regional spending attributable to the tournament.  About the Pacific Life Open The first major professional tennis event of the season on U.S. soil, the Pacific Life Open features more than 250 of the world's best men and women tennis players and is the fifth most attended tournament outside of the Grand Slams.   For information, or to buy tickets, visit or call the Indian Wells box office, 800-999-1585 or 760-200-8000 or visit the box office, 78-200 Miles Avenue, Indian Wells, CA 92210.  About Pacific Life Founded in 1868, Pacific Life provides life insurance products, individual annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans. Pacific Life counts more than half of the 100 largest U.S. companies as clients1 and is a member of Insurance Marketplace Standards Association (IMSA), whose membership promotes high ethical standards for the sale of individual life insurance and annuities. For additional information about Pacific Life, including its current financial strength ratings from A.M. Best, Fitch Ratings, Standard & Poor's, and Moody's, visit the company Web site at 1 Data compiled by Pacific Life using the FORTUNE 500 list as of April 2006.