BEDMINSTER, N.J., December 15, 1998 -- Hamilton Farm, home of the United States Equestrian Team (USET), will share green space with an elite group of golfers by the year 2000.

The Daylar Group, of Middletown, CT, purchased Hamilton Farm from Beneficial Corporation in September 1998 and will leave 100 acres of the terrain for the USET's use, in addition to the landmark stables, which the USET already owns.

"There is no question that golfers and equestrians are compatible -- both groups of athletes have an interest in preserving this tranquil, natural and pastoral setting," said Robert Standish, Executive Director, USET, "The Daylar Group not only understands our needs but wants to incorporate them into the overall design of the land." Standish added that former Beneficial chairman Finn Caspersen, who is also Chairman of the USET Board of Trustees, led the effort to procure Daylar's purchase of the property.

Golf memberships will be sold, by invitation only, to 18 major Fortune 100 companies. The membership will allow each of the corporate constituents to designate 10 golfers as members. The private club will be open to members and select guests only. Corporate membership fees have not yet been determined.

The course architect, Hurdzan & Fry, winner of Golf World Magazine's 1997 Architect of the Year Award, will carve out world-class championship and par-3 courses. The firm considers the equestrian component integral to the design of the course and will interweave bridle paths throughout the golf site to preserve current equestrian activities.

"Our plan will keep the USET in New Jersey and will allow equestrian activities to thrive here for generations to come," said Harry Day, Daylar partner. Day added that the plan has already been approved by the local planning board.

The United States Equestrian Team is a non-profit organization which selects, trains, equips, finances and promotes equestrians of the highest possible standard for major international competition, including the Olympics.