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Orlando Developer Acquires Resort from Affiliate of Starwood Vacation Ownership

Announces Purchase of Kissimmee Vacation Ownership Resort

Press Release: SunVest Realty Group, Inc.
April 26, 2004
ORLANDO, FL -- SunVest Realty Group, Inc., an Orlando-based real estate development company, has recently announced the acquisition of Oak Plantation Vacation Ownership Resort from Oak Plantation Joint Venture, an affiliate of Starwood Vacation Ownership, Inc.

The multi-million dollar purchase by SunVest Realty Group includes the remaining inventory of approximately 7,000 interval weeks. The closing took place in Orlando on April 20, 2004. Mortgage financing is being provided by the Resort Receivables Division of Textron Financial.

"The Oak Plantation acquisition presents an exciting opportunity for our company," says Jack Chevrier, Chief Operating Officer, Sales and Marketing, of SunVest Realty Group. "Our mission is to continue to provide the highest quality service possible to our approximately 5,000 existing owners as we complete the sellout of the remaining inventory. We are very pleased to welcome the owners and resort personnel to the SunVest Realty Group family."

"Our plans," he continues, "also include an expansion program of approximately 100 additional villas at Oak Plantation and we are currently assembling a staff of highly experienced sales and marketing personnel to achieve these goals. Those plans include two- and three-bedroom villas, some with lockout features."

The new owners plan to retain Oak Plantations' previous general manager and the majority of the existing staff to help facilitate the transition and make it as seamless as possible.

Built in the early 1990s, Oak Plantation is a 242-unit vacation ownership resort located on 16 oak-filled tranquil acres in the Orlando suburb of Kissimmee, Florida and six miles from Walt Disney World. The one- and two-bedroom villas are constructed in 16 garden style buildings. Resort amenities include two climate-controlled swimming pools, children's pool and fountains, whirlpool spa, lighted tennis and basketball courts, fitness center, video game room and owners' Club Room.

Oak Plantation is a floating system selling at an average price of approximately $12,000 per week and currently affiliated with the Interval International exchange company. It is the new owner's plan to incorporate a points-based club program to increase owner flexibility of use and value.

SunVest Realty Group is a diversified team of experienced real estate, service, investment and development professionals. They have assembled a team of experienced timeshare professionals to manage the multifaceted project.
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