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Exclusive Resorts Spends $100 Million for 46 Vacation Residences Affiliated with Branded Resorts


DENVER & WASHINGTON - July 14, 2005 -- Exclusive Resorts, the pioneer and leader of the rapidly growing luxury residence club category, today announced the acquisition of 46 new residences in four beach destinations, a 20 percent expansion of its worldwide portfolio of multi-million-dollar vacation homes available for member use today. The residences purchased are all affiliated with world-class branded resorts and provide Exclusive Resorts members with access to the services and amenities of these five-star developments. These new acquisitions represent over $100 million in luxury real estate added to the club's industry-leading portfolio of vacation homes.

Already the world's #1 private club for discerning travelers, Exclusive Resorts offers its members vacations at more than 200 private residences today, in 33 of the most sought-after destinations around the globe, with another 200 homes under development in multiple locations. These residences are large enough for family and friends to vacation very comfortably.

"We are proud to have secured 46 new residences at four of the best branded beach resorts in the world with Esperanza, Los Cabos; Grand Wailea Resort, Maui; St. Regis, Ft. Lauderdale; and The Residences at Bath Club, South Beach, Miami," said Donn Davis, chief executive officer of Exclusive Resorts. "We continue to provide our members the most unique and compelling vacation experience in the marketplace with the greatest variety of destinations, the most spectacular homes and the finest service."

This expansion provides Exclusive Resorts members with even more vacation options and increased availability. Moreover, the club's exclusive partnerships with world-renowned resorts ensure that Exclusive Resorts members experience the very best each destination has to offer in terms of services, amenities and activities. Under the terms of these acquisitions, Exclusive Resorts members will be able to experience Esperanza Resort in Los Cabos, Mexico; St. Regis Resort, Spa and Residences, Ft. Lauderdale; and The Residences at Bath Club in Miami Beach. Members staying at the Ho'olei Wailea homes will have access to the Grand Wailea Resort Hotel & Spa in Wailea, Maui, Hawaii.

Los Cabos, Mexico

Located four miles outside of the town of Cabo San Lucas in a brand new part of Esperanza Resort, Exclusive Resorts has acquired 16 luxurious residences with breathtaking views overlooking the Sea of Cortez, each averaging 3,500 square feet of living space. With architecture and design that reflect the region's coastal Mexican style -- including Palapa roofs, earth-tone walls, and terra cotta stone -- and amenities such as a new three-tier infinity-edge pool with swim-up Palapa Bar, full-service spa and three restaurants, the new offerings are sure to be a favorite among Exclusive Resorts' growing membership of high-end travelers.

Wailea, Maui, Hawaii

Exclusive Resorts will develop new luxury residences in the Ho'olei development in Wailea on the southern coastline of Maui, Hawaii, next to the famed Grand Wailea Resort Hotel & Spa. The 12 new residences take advantage of Wailea's spectacular coastline, limited rainfall and wind, nationally acclaimed beaches, and first-rate dining and shopping venues. Members staying at the Ho'olei Wailea homes will have special access to the Grand Wailea Resort Hotel & Spa. The resort is known for its award-winning 50,000-square-foot Spa Grande, which is consistently recognized among the Top Ten Spas in the United States by Conde Nast Traveler and Travel + Leisure magazines. Members also will have access to the famed Gold, Emerald and Blue golf courses.

Scheduled to be completed in the second half of 2007, the new Wailea residences on Maui will complement the three current Exclusive Resorts destinations in Hawaii, which are among the most-requested residences and destinations in the company's portfolio. In addition to the planned development in Wailea, Maui, Exclusive Resorts plans to open additional residences in the Kohala Coast on the Big Island, bringing the total number of residences on the Big Island to 21 by the end of 2005.

Ft. Lauderdale, Fla.

A new destination for Exclusive Resorts, the company expects that Ft. Lauderdale quickly will become a favorite among members once they get a glimpse of the club's new Ocean Blvd. residences at the St. Regis Resort, Spa and Residences, Ft. Lauderdale. The eight 2,500-square-foot residences offer panoramic views of the Atlantic Ocean and Intracoastal Waterway, private butlers and access to the Jack Nicklaus Signature Golf Course. With notable five-star diamond-quality service, infinity-edge pool with swim-up bar, an ocean-view gourmet restaurant and a white-sand beach serviced by private butlers and accessed by an air-conditioned foot bridge, these luxurious new residences are being added in response to club members' increasing demand for beach destinations.

South Beach, Miami, Fla.

Another new destination for the club, The Residences at the Bath Club on "Millionaire's Row" in South Beach, Miami, soon will be a crown jewel in the Exclusive Resorts destination portfolio. The club is adding 10 stunning 4,000-square-foot residences that span the entire width of the building, each giving views of the Atlantic Ocean, Intracoastal Waterway and city. Featuring more than five acres of gated private grounds with walking gardens, dining at the historic Bath Club, European-style clay tennis courts, private terraces, poolside cabanas and access to the Governor's Lounge and Courtyard, these new residences are an exquisite addition to Exclusive Resorts' beach residence collection.

About Exclusive Resorts
Exclusive Resorts is the leader in the new consumer segment of luxury residence clubs. Exclusive Resorts offers its members unprecedented access to a portfolio of hundreds of the finest luxury vacation residences in dozens of the world's most desirable destinations. With an average value of approximately $3 million, each residence combines the spaciousness and elegance of a private home with the services, amenities and conveniences of a five-star resort. Membership in Exclusive Resorts eliminates the burdens of owning a second home, the limitations of fractional real estate, and the uncertainties of renting a villa. Members of Exclusive Resorts pay a one-time Membership Fee (which is 80 percent refundable upon resignation) and Annual Dues depending on the usage plan the member elects each year. Memberships are priced at $195,000 for an Affiliate Membership, $295,000 for an Executive Membership, and $395,000 for a Full Membership, with Annual Dues ranging from $9,500 to $30,000 depending on the travel plan the member selects. Exclusive Resorts is the partner of choice in the luxury residence club segment, with strategic alliances with leading companies including American Express, Marquis Jet/NetJets, and Neiman Marcus InCircle Rewards. The Company is based in Denver, Colorado, and Washington, D.C. 

Exclusive Resorts
Also See: Steve Case, Co-founder of America Online, Increases Majority Ownership in Exclusive Resorts, Named Chairman of the Company; Names Management Team / November 2004
KSL Resorts Enters New Phase of Operations Following Sale of Six Resorts to CNL Hotels & Resorts, Inc / August 2004

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