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Press Release: ILX Resorts Incorporated
July 8, 2004
PHOENIX, AZ -- ILX Resorts Incorporated (AMEX: ILX), a leading developer, operator and marketer of upscale flexible-stay
vacation ownership resorts in the western United States, announced yesterday that it has completed its acquisition
of 988 two-bedroom intervals (19 units) and available land for a minimum of an additional 20 units (1040 intervals)
at Rancho Manana Resort in metropolitan Phoenix.
"With the acquisition now complete, we anticipate annexing the Rancho Manana inventory to Premiere Vacation
Club early in the third quarter 2004. The annexation will provide members a second location in the Valley of the
Sun, adding to the Scottsdale Camelback inventory purchased earlier this year and annexed in May. It is also our
intention to commence the construction of additional units at Rancho Manana, as well as to develop inventory on
our land in Pinetop, Ariz., in the second half of 2004," said Joe Martori, chairman and CEO of ILX.
ILX Resorts acquires, develops and operates premier timeshare resorts primarily in the western United States that
provide its owners with extraordinary vacation experiences. ILX's portfolio of world-class properties includes
seven resorts in Arizona; one in Indiana; one in Colorado; one in San Carlos, Mexico; and land adjacent to an existing
resort in northern Arizona and 44 acres of land one mile from the Las Vegas Strip, to both of which parcels the
company holds development rights. It also, through Premiere Vacation Club, has acquired, and continues to acquire,
inventory at the Carriage House in Las Vegas, and in addition has acquired inventory at the Scottsdale Camelback
Resort in Scottsdale, Ariz. For more information, visit: www.ilxresorts.com.
This news release may include "forward-looking statements." Forward-looking statements are based on current
expectations and assumptions and are inherently subject to risks and uncertainties, some of which cannot be predicted
or quantified and many of which are beyond the company's control. Actual results could differ materially from these
forward-looking statements as a result of a number of factors, including but not limited to, economic conditions,
the company's need for additional financing, intense competition in various aspects of its business, the risks
of growth, its dependence on key personnel, pending litigation and other risks detailed in ILX's Securities and
Exchange Commission reports. Given these risks and uncertainties, investors are cautioned not to place undue reliance
on such forward-looking statements and no assurances can be given that such statements will be achieved. ILX Resorts
Incorporated does not assume any duty to publicly update or revise the material contained herein.
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Contact:
ILX Resorts Incorporated, Phoenix
Joseph P. Martori or Margaret Eardley, 602-957-2777
Source: ILX Resorts Incorporated