Press Release: Leisure Homes Corporation
June 11, 2002
LAS VEGAS, NV -- Leisure Homes Corporation, a wholly owned subsidiary of Mego Financial Corporation (Nasdaq:LESR),
announced yesterday the appointment of Fred A. Daniels as Senior Vice President of Interval Sales.
Fred A. Daniels joins Leisure Homes Corporation after a 30-year career providing marketing, sales, and resort management
services to developers, resort owners, marketing groups, and brokers. Since 1971, Mr. Daniels has worked with resort
industry leaders in every aspect of resort development and management, including mixed-use resort communities,
timeshare resorts, fractional ownership, resort hotels, land sales, RV resorts and a variety of resort real estate
offerings. Most recently, he was part of the management team of Raintree Resorts International, a leading developer,
marketer and operator of luxury, upscale vacation ownership resorts in North America.
Mr. Daniels served as President and CEO of Whiski Jack Resorts, Ltd. in Whistler, British Columbia. He is a past
President of the Canadian Resort Developers Associations (CRDA); a longtime member of the American Resort Development
Association (ARDA); and a member of SKAL International, an international organization bringing together all branches
of the travel and tourism industry. Mr. Daniels served on the Board of Directors of the Developers of Ocean City
Association and the Pocono Mountain Board of Realtors. He is a past President of the Iowa Great Lakes Area Chamber
of Commerce.
Mr. Daniels studied business and marketing at Drake University and real estate at the University of Maryland. He
earned real estate broker licenses in Maryland, Pennsylvania, Minnesota and Iowa and has taught real estate courses
for brokers at Penn State University.
"Fred Daniels is one of the most respected and trusted sales professionals in the country," said Floyd
W. Kephart, Chairman and CEO. "He has a proven track record of building sales organizations to their highest
level of productivity while maintaining unmatched standards of professionalism and integrity. Fred pioneered many
aspects of the vacation ownership industry including the marketing of fractional ownerships. He is a firm believer
in relationship selling. Fred also has a well-deserved reputation as a team builder. He likes to be called 'Coach'
by his associates, and I think that says a lot about his overall management style."
The Company announced on April 12, 2002, the launching of its new corporate identity with a name change to Leisure
Industries Corporation of America, subject to shareholder approval. Leisure Industries Corporation develops and
operates vacation ownership resorts, develops properties, and provides consumer financing to purchasers of vacation
ownership interests and land parcels through its wholly owned subsidiary, Leisure Homes Corporation. Leisure Industries
is headquartered in Las Vegas, Nevada and has properties in Nevada, New Jersey, Colorado, Florida and Hawaii. The
Company also has announced that it entered into a letter of intent to acquire Raintree Resorts International, a
leading developer, marketer and operator of luxury, upscale vacation ownership resorts in the United States, Mexico
and Canada in phases beginning with the acquisition of Raintree Resorts' three properties in North America.
This press release contains "forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties or
other factors which may cause actual results, performance or achievements of Leisure Industries (Mego Financial)
to be materially different from any future results, performance or achievements express or implied by such forward-looking
statements. Factors that might cause such a difference, include, but are not limited to, those discussed in the
Management's Discussion and Analysis of Financial Condition and Results of Operations in Mego Financial's Annual
Report on Form 10-KT for the year ended December 31, 2001, and in the Form 10-Q for the quarter ended March 31,
2002, and subsequent documents filed by Mego Financial Corp. with the Securities and Exchange Commission.
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Contact:
Golin/Harris
Bethany Eppner, 212/697-9191
beppner@golinharris.com