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SONOMA, Calif. and PONTE VEDRA BEACH, Fla. -- Charles Schwab & Co. and the PGA TOUR today announced that the organizations have agreed in principle to extend its comprehensive marketing partnership with the PGA TOUR as the "Official Investment Firm of the PGA TOUR and the Champions Tour" and umbrella sponsorship of the Champions Tour's Charles Schwab Cup program.

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Charles Schwab has had a long term marketing and sponsorship relationship with the PGA TOUR and Champions Tour, dating back to 1997.

"The PGA TOUR is extremely pleased to have reached an agreement in principle for Charles Schwab to extend this long-standing relationship," said PGA TOUR Commissioner Tim Finchem. "Charles Schwab is an outstanding partner, and TOUR players, tournaments and fans have benefited greatly from our relationship with Schwab over the past 10 years. We're confident the continuation of this partnership will provide significant value to both Charles Schwab and the PGA TOUR for many years to come."

"We've had great success with our PGA TOUR partnership over 10 years, including seven with the Champions Tour, and we are looking forward to an expanded relationship between our two organizations," said Charles R. Schwab, Chairman and CEO of The Charles Schwab Corporation.

He added, "Because our clients and employees have a great affinity for the sport of golf, a game they both watch and play, our partnership with the PGA TOUR helps us to meet many of our marketing goals, as well as an opportunity to increase our philanthropic activities, something our employees value."

As the Official Investment Firm of the PGA TOUR and Champions Tour, Charles Schwab has agreed in principle to extend it's year-long, multifaceted marketing program which includes relationship-building programs at multiple PGA TOUR and Champions Tour events and TPCs and advertising on PGATOUR.com and with the TOUR's broadcast partners. Schwab also provides investment-related services to TOUR players and staff.

Beyond the marketing partnership, the Charles Schwab Corporation will also be title sponsor of the Charles Schwab Cup, the season-long points competition that recognizes the leading player on the Champions Tour, which is a Tour for the world's leading players age 50 and over. The 2007 competition culminates at this week's Charles Schwab Cup Championship at the Sonoma Golf Club in Sonoma, Calif.

The Charles Schwab Cup offers $2.1 million in prize money to its five leading finishers at season's end with $1 million awarded to the champion. Previous winners were Allen Doyle (2001), Hale Irwin (2002, 2004), Tom Watson (2003, 2005) and Jay Haas was the 2006 champion by a mere 20 points over Loren Roberts when the race for the Trophy came down to the final putt.

"I'm glad we continue to 'Talk to Chuck,'" said Rick George, President of the Champions Tour. "The Charles Schwab Cup has had a significant impact on the Champions Tour in encouraging our players to add events to their schedule, and provides our fans a year-long focus to identify the Tour's leading player. It's not only our players who benefit, but area charities are also major winners. Since relocating to Sonoma in 2003, the Charles Schwab Cup Championship has delivered substantial charitable dollars to the local community."

The event has donated more than $1 million to local charities which include the following: The Sonoma County Boys & Girls Club; The First Tee Foundation; Hanna Boys Center; Sonoma Valley Mentoring Alliance; Valley of the Moon Children's Foundation; CommonBond Foundation; and the Sonoma Valley Hospital.