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Sale of Grandvista Resorts Announced

Press Release: Grandvista LLC
Aril 28, 2004
BRANSON, MO -- Richard E. Huffman. Chief Executive Officer of Grandvista, LLC, today announced the sale of Grandvista's resorts and their sales and marketing locations to Westgate Resorts, Ltd. of Orlando, Florida. This sale includes Grandvista's timeshare resorts: Grandvista's Emerald Pointe Resort, Grandvista's Woods, and Branson Yacht Club in Branson Missouri; Grandvista's Vacation Suites at Tunica, Tunica Mississippi and Grandvista's Painted Mountain Golf Resort in Mesa Arizona.

Westgate Resorts is the largest privately held timeshare company in the world with over 300,000 owners and 8,000 employees. Westgate owns and operates luxurious resorts in Orlando and Miami Beach, Florida, Gatlinburg, Tennessee, Williamsburg, Virginia, Park City, Utah and Las Vegas, Nevada.

"We have been looking for the right opportunity in the Branson market for a long time. The purchase of Grandvista allows us to enter Branson with the best timeshare opportunity in the area. Our goal is to be the #1 timeshare developer in Branson. We have also created a relationship with Rick Huffman, Marc Williams and Sam Catanese which will be long-term and mutually beneficial for years to come," said David Siegel, President and Chief Executive Officer of Westgate.

"We are pleased with this sale, as it will be a good move for both companies. Westgate offers expansion and enhancement to the timeshare industry and this allows the partnership of Marc Williams, Sam Catanese and myself to concentrate on other developments in the United States including the Branson Landing Project, a $300,000,000.00 public/private partnership in Branson Missouri," stated Huffman.

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Contacts:  Grandvista - Jeanne Rudloff
(417) 332-3443

Westgate Resorts - David Crabtree
(407)-351-3350 ext. 101