The three transactions come just eight weeks after ResortQuest's initial public offering of 6.7 million shares of common stock, and the acquisition of its 13 founding companies, to form the first branded company in the vacation rental and property management industry. 

As part of the acquisition of Plantation Resort Management Inc., ResortQuest will add approximately 378 condominiums and rental homes in the Plantation Resort located in Gulf Shores, Ala., to its current portfolio of more than 10,000 vacation properties. Following its acquisition, the newly acquired company will maintain its local identity and business operations under its current management team. In addition, the operations of Plantation Resort Management Inc. will adhere to ResortQuest's branding standards and product segmentation strategy. 

"These acquisitions are in line with ResortQuest's aggressive growth strategy, and will strengthen the company's position as the first branded provider of vacation homes and property management services," said David Sullivan, chairman and chief executive officer of ResortQuest. 

David Levine, president and chief operating officer of ResortQuest, added, "ResortQuest will continue to pursue a targeted acquisition strategy to broaden our inventory in markets we currently serve and expand our vacation property portfolio in new prime resort markets, such as Gulf Shores. In addition, the acquisition of Plantation Resort Management helps build our summer inventory of 
rental homes and condominiums, and represents a platform acquisition for future growth in the Gulf Shores market." 

ResortQuest is the first branded company providing vacation rental and property management services in premier resort destinations throughout North America. Through the acquisition of its founding companies in May, ResortQuest created a network of more than 10,000 rental homes and condominiums available in locations that include Nantucket, Mass.; Bethany Beach, Del.; Gulf Shores, Ala.; the Outer Banks of North Carolina; St. Simons Island, Ga.; Captiva Island and Sanibel Island, Fla.; Aspen, Breckenridge and Telluride, Colo.; Park City, Utah; Whistler, British Columbia; and the Hawaiian islands of Maui, Oahu, Kauai and the Big Island, Hawaii. 

ResortQuest has 1,200 total employees and maintains corporate offices at 530 Oak Court Drive, Suite 360, in Memphis, Tenn. 

Certain statements in this press release contain "forward-looking statements" falling within the meaning and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements can generally be identified by the use of forward-looking terminology, such as "may," "will," "expect," "estimate," "anticipate," "believe," "target," "plan," "project," "continue," or the negatives thereof, or other variations thereon or similar terminology, and are made on the basis of management's plans and current analyses of the Company, its business and the industry as a whole, and the acquisitions described herein. These forward-looking statements are subject to risks and uncertainties, including, but not limited to, economic conditions, competition, interest rate sensitivity and exposure to regulatory and legislative changes. With respect to the acquisitions, these forward-looking statements are also subject to the risk (i) that the acquisitions described in this press release will not be consummated because a definitive agreement is never reached or there is a failure of a required condition of closing and (ii) that once consummated, the combined entity will fail to integrate successfully with the operations of ResortQuest International, Inc. The above factors could affect the Company's financial performance and could cause actual results for 1998 and beyond to differ materially from those expressed or implied in such forward-looking statements, even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized.