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Trendwest Resorts to Establish a Presence in the Rocky Mountain Region with Wolf Creek, Utah Acquisition
BELLEVUE, Wash.--May 22, 1998 -Trendwest Resorts Inc. (Nasdaq:TWRI) today announced it is close to completing acquisition of an existing timeshare property at Wolf Creek Resort at Eden, Utah for an initial purchase price of approximately $1,300,000, including pads upon which Trendwest can build an initial 30 units, plus an option for an additional 97 units.

Trendwest will also be acquiring the equivalent of nine to ten fully developed units at the resort.

"Trendwest will also have an on-site sales office at this location," William F. Peare, Trendwest's president and CEO said. "Expected to open June 16, it will be the company's first sales office in the Rocky Mountain region.

"Startup costs, typical with establishing a new sales location, are expected to be less at Wolf Creek because of an ideal pre-existing facility."

The Wolf Creek Resort has been in existence since 1960 and features one, two and three bedroom condominiums. Area amenities include a championship golf course, recreational center, picnic areas, two swimming pools, weight room and racquetball courts. Wolf Creek is within minutes of three popular ski resorts and is a convenient drive-to destination for owners living in Salt Lake City.

This will become the 23rd resort destination for Trendwest which has resorts ranging from Whistler in British Columbia to Cabo San Lucas in Mexico, plus three in Hawaii.

The Wolf Creek, Utah sales office opening will follow closely the recent addition of a sales office in Scottsdale, Ariz. which opened on May 19, establishing a Trendwest presence in the Southwest region.

Trendwest Resorts, Inc. is a leader in the vacation ownership resort industry.

The Company markets, sells, finances, develops and manages timeshare ownership interests, and acquires, develops and manages timeshare resorts. 

WorldMark vacation ownership resorts are operated through WorldMark, the Club, a non-profit mutual benefit corporation, organized by Trendwest Resorts in 1989 to provide an innovative, flexible vacation ownership system. 

WorldMark has approximately 52,000 members ("Owners") and owns and maintains an aggregate of 987 condominium-style units at 22 recreational resorts in the Western United States, Hawaii, British Columbia and Mexico. 

Trendwest is a 78.0 percent owned subsidiary of JELD-WEN, a Klamath Falls,  Oregon-based company of over 100 subsidiaries with diversified operations throughout the United States and in nine foreign countries. JELD-WEN is a privately-owned company, founded in 1960, and is a manufacturer of doors, windows and millwork products. Its operations include manufacturing, hospitality and recreation, retail, financial services and real estate. 

Trendwest Resorts
Jerry Lynch

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