MyBenefitSource Chips Away" at Meadowbrook Golfs Payroll Administration Costs

-- Cuts Processing Time From Two Days to Two Hours

ATLANTA -- (August 14, 2001) -- MyBenefitSource has reduced the payroll and tax filing processing time from two days to two hours per pay period for Meadowbrook Golf and its 110 office locations. Lakeland, Fla.-based Meadowbrook Golf and subsidiaries is a 4,000-person company, which owns, operates, maintains and develops golf courses in 16 states, primarily in the Eastern and Southeastern U.S.

MyBenefitSource (MBS), a leading provider of integrated payroll and employee benefits administration services, is conducting a multi-stage implementation for each of Meadowbrook Golfs four subsidiaries. When complete, Meadowbrook Golf will be able to link its payroll data to its time and attendance, 401k, healthcare benefits and workers compensation providers. The company expects significant savings in payroll and benefits administration costs.

Payroll is the bridge and key entry point to truly integrating payroll, time-keeping, accounting and benefits administration," said Ed Cain, CEO of MyBenefitSource. With our SingleSourceTechnologySM, we have virtually eliminated the redundant and error-prone process of manual data entry."

In July, Fairways LP, one of four companies comprising Meadowbrook Golf, outsourced its entire payroll processing function to MBS, eliminating the burden of running payroll every pay period. By outsourcing payroll, MBS also allowed Fairways to concentrate on its core business, while ensuring the payroll process is in compliance with all of the most recent state and local tax regulations.

In addition to experiencing a burden-free payroll process, using MBS hosted payroll software, Fairways is still able to access, retrieve, download and generate reports on its payroll, time and attendance and benefits information, which also interfaces with Fairways Microsoft Great Plains® accounting software.
--more--

MBS Cuts Meadowbrook Golfs Payroll Costs / Page 2

Today, MBS is also working to streamline the transmittal of payroll and time-keeping information for Meadowbrook Golf business unit International Golf Maintenance (IGM), which specializes in course maintenance and agronomic services. MBS will complete similar integrations by January 2002 for Meadowbrook Golfs remaining business units, Golf Ventures, Inc., a supplier of golf course equipment and chemicals and Meadowbrook Corporate Headquarters.

Previously, our IGM group offices had to fax an Excel spreadsheet of time-keeping data to the home office," said Bert Mariani, director of finance for Meadowbrook Golf. That data was then re-keyed into a separate system. When the MBS implementation is complete, this same process will only take a couple of hours every pay period -- versus two days of manual re-entry -- because we will be able to email those Excel files directly into our central network for easy data collection and payroll processing."

The MBS payroll system provides 75 pre-formatted reports, with the functionality for Meadowbrook Golf to generate an unlimited number of customized reports. These reports will help Meadowbrook Golfs executive management team analyze general business issues such as hiring, training and retention projections, plan enrollment, workers compensation, health insurance and even tracking FMLA eligibility and leave times.

Data can also be easily exported and downloaded into Microsoft® Excel files or even directly into other payroll and general ledger systems, such as Microsoft Great Plains. With MBSs SingleSourceTechnology, all the business administration components -- payroll, accounting, benefits administration, benefits enrollment and benefits invoicing -- are tied together into one seamless system.

About Meadowbrook Golf, Inc.
Meadowbrook Golf is a growing company engaged in operating, owning, leasing, and developing golf properties. Meadowbrook manages, owns and provides maintenance services to more than 100 golf courses and clubs. These include facilities that are owned, leased, operated under management agreements, or maintained by Meadowbrook's subsidiary, International Golf Maintenance (IGM). Based on the number of golf courses with which they are affiliated, Meadowbrook is the third largest golf course operating company in America. Meadowbrook Golf's national headquarters are in Lakeland, Florida (and will soon be moving to ChampionsGate), with regional offices in Washington DC, Philadelphia, Milwaukee, Chicago and Beverly Hills.

About MyBenefitSource (MBS)
MyBenefitSource (MBS) has developed an integrated business solution, delivering a wide range of payroll, benefit brokerage, enrollment and administrative services for employers. By integrating its Web-based SingleSourceTechnology with innovative products and personalized customer care, MyBenefitSource helps emerging and established companies of all sizes focus on their core business. For more information, please visit www.mybenefitsource.com.

###

---- Contact Information -----

Matt Wright/Brian Rubenstein
Duffey Communications (for MyBenefitSource)404/266-2600
mattw@duffey.com
brianr@duffey.com    

PJ Cannon, Vice President of Marketing
MyBenefitSource
770-409-7936
pjcannon@mybenefitsource.com

Bill Houghton,
Director of Marketing
Meadowbrook Golf, Inc.
863-686-7865
bhoughton@mggi.com