Press Release: Boca Resorts, Inc.
September 12, 2002
BOCA RATON, FL -- Boca Resorts, Inc. (NYSE: RST) announced Sept. 10 that William M. Pierce, has tendered his resignation
as Senior Vice President and Chief Financial Officer of the Company to join Royal Palm Capital Partners LP, a recently
formed private equity fund. Mr. Pierce's resignation will be effective October 31, 2002, however, he will be available
for the following four months to assist the Company in a transitional capacity. The Company has commenced interviewing
applicants for the Chief Financial Officer position and expects to have a replacement prior to year's end.
In commenting on Mr. Pierce's resignation, H. Wayne Huizenga, Chairman and Chief Executive Officer of Boca Resorts,
Inc. stated, "Bill played an important role both in our initial public offering and in our expansion into
the luxury resort segment. He leaves the Company on a sound financial footing, with one of the strongest balance
sheets in the industry. We appreciate his contribution over the past years, and wish him future success".
Boca Resorts, Inc. owns luxury resort properties and golf courses in Florida. The Company's Florida resort and
golf portfolio includes the Boca Raton Resort & Club in Boca Raton; the Registry Resort at Pelican Bay, the
Edgewater Beach Hotel and Naples Grande Golf Club in Naples; and the Hyatt Regency Pier 66 Hotel and Marina, the
Radisson Bahia Mar Resort and Yachting Center and Grande Oaks Golf Club in Fort Lauderdale.
Source: Boca Resorts, Inc.