================================================================= YANKEES NEWS ALERT ================================================================= July 13, 2010 YANKEES PRINCIPAL OWNER / CHAIRPERSON GEORGE M. STEINBRENNER III PASSES AWAY It is with profound sadness that the family of George M. Steinbrenner III announces his passing. He passed away this morning in Tampa, Fla., at age 80. "He was an incredible and charitable man. First and foremost he was devoted to his entire family - his beloved wife, Joan; his sisters, Susan Norpell and Judy Kamm, his children, Hank, Jennifer, Jessica and Hal; and all of his grandchildren." "He was a visionary and a giant in the world of sports. He took a great but struggling franchise and turned it into a champion again." At the time of his passing, Mr. Steinbrenner was celebrating his 37th anniversary as Principal Owner of the New York Yankees in 2010. Under his leadership, the Yankees became the leading sports franchise and the most highly recognized sports brand in the world. On January 3, 1973, a group of businessmen formed and led by Mr. Steinbrenner purchased the New York Yankees from CBS for a net price of $8.7 million. It took just five years for his aggressive leadership to turn the organization back into World Champions. In the 37 years he was Principal Owner of the club, the Yankees posted a Major League-best .566 winning percentage (3,364-2,583-3 record) while winning 11 American League pennants and seven World Championships (also the most in the Majors).