| Tokyo, Japan, Oct 2, 2007 |
| Bridgestone Sports Reaches Patent Settlement with Titleist |
Tokyo, Japan, October 2, 2007 - Bridgestone Sports Co., Ltd., a leading manufacturer of golf balls, announced today that it reached a settlement and patent license agreement with The Acushnet Company, the maker of Titleist and Pinnacle golf balls. Under the terms of the agreement, Acushnet will pay Bridgestone a license fee that includes an on-going royalty for a license under certain of Bridgestone's patents. The parties have also agreed to a non-royalty bearing cross-license of other patents held by each company. The agreement resolves all pending litigation in the United States between them. A related suit in Japan was not a part of this settlement and remains pending.
Commenting on the settlement, Bridgestone Sports' President Hisashi Kawano said, "We are very pleased to have reached a settlement agreement with Acushnet and to bring the U.S. litigation to an end. This agreement demonstrates the value of our technology and our Intellectual Property."
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