Chevron World Challenge presented by Countrywide

Los Alamitos, CA (July 6, 2005) - Countrywide Financial Corp. will become the presenting sponsor of the Target World Challenge presented by Countrywide, the Tiger Woods Foundation's annual PGA TOUR event. This year's tournament will take place December 7-11, 2005, at Sherwood Country Club in Thousand Oaks, Calif.

The $5.5 million Target World Challenge presented by Countrywide is a 72-hole, stroke play event. The four-day tournament features a 16-player field with the top 11 players from the Official World Golf Rankings, the defending champion and four special exemptions. The winner takes home a $1.2 million prize. This event raises funds for charities supported by the Tiger Woods Foundation, including the Tiger Woods Learning Center and the Start Something character development program.

"We are very pleased Countrywide will take on the role of presenting sponsor for the Target World Challenge presented by Countrywide," Greg McLaughlin, President of the Tiger Woods Foundation, said. "Countrywide has been a great supporter of both the golf tournament and the Foundation for the last six years, and we are looking forward to continuing this partnership with many successful events."

"We take immense pride in our support of the annual Tiger Woods Foundation PGA Tour Event, and we are truly proud and excited to step up this year and take a leadership role as a principal sponsor," said Andy Bielanski, Countrywide Senior Managing Director of Marketing and Public Relations.  "We're looking forward to our continued relationship with the Foundation."

About Countrywide Financial Corporation

Founded in 1969, Countrywide Financial Corporation (NYSE: CFC) - America's #1 residential lender as ranked by Inside Mortgage Finance (Jan. 28, 2005), Copyright 2005 - is a member of the S&P 500 and Fortune 500. Countrywide, through its subsidiaries, provides mortgage banking and diversified financial services in domestic and international markets. Mortgage banking businesses include loan production and servicing principally through Countrywide Home Loans, Inc., which originates, purchases, securitizes, sells, and services residential loans. The company is headquartered in Calabasas, California and has a workforce of nearly 45,000 employees with over 800 offices. For more information about the company, visit Countrywide's Web site at www.countrywide.com.

About Target

Minneapolis-based Target serves guests at 1,330 stores in 47 states nationwide by delivering today's best retail trends at affordable prices. Target is committed to providing guests with great design through innovative products, in-store experiences and community partnerships. Whether visiting a Target store or shopping online at Target.com, guests enjoy a fun and convenient shopping experience with access to thousands of unique and highly differentiated items. Target (NYSE:TGT) gives back more than $2 million a week to its local communities through grants and special programs. Since opening its first store in 1962, Target has partnered with nonprofit organizations, guests and team members to help meet community needs.

About Tiger Woods Foundation

Established in 1996 by Tiger Woods and his father Earl, the Tiger Woods Foundation empowers young people to reach their highest potential by initiating and supporting community-based programs that promote the health, education and welfare of all of America's children. In addition to several youth-driven programs and building the 14-acre Tiger Woods Learning Center, the Foundation hosts fundraising events during the year, including the Target World Challenge presented by Countrywide and Tiger Jam presented by SBC. More information on the Tiger Woods Foundation and its mission can be found at www.tigerwoodsfoundation.org.