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Press Release: Bluegreen Corporation
October 28, 2004
BOCA RATON, FL -- Bluegreen Corporation (NYSE: BXG), a leading U.S. developer and marketer of timeshare resorts
and planned residential and golf communities, yesterday announced that it has, for the first time, been named one
of "America's 200 Best Small Companies" by Forbes magazine. Bluegreen® was ranked #67. The entire
list appears in the November 1, 2004 issue of Forbes.
Forbes' selection process begins with a review of more than 3,500 companies whose latest 12-month sales were $5
million to $750 million. To qualify, candidates had to show a consistent pattern of positive growth during a five-year
period, as well as over the last 12 months. The ranking is based on growth in sales, earnings per share, and return
on equity over a five-year period and the latest 12 months. Companies were required to have a stock price above
$5 per share on October 1st, and net profit margins greater than 5 percent.
George F. Donovan, President and Chief Executive Officer of Bluegreen, commented, "We are very honored to
be included on such a prestigious list. This ranking reflects the quality of our properties and successful execution
of our business plan. Most importantly, it reflects the talent and dedication of our employees. It is because of
their efforts that we are able to provide our customers with among the most memorable leisure and lifestyle experiences
in our industry."
ABOUT BLUEGREEN CORPORATION
Bluegreen is one of the leading companies engaged in the acquisition, development, marketing and sale of vacation
ownership resorts and residential homesites. Bluegreen Resorts are located in a variety of popular vacation destinations,
including: Marathon, Florida; Orlando, Florida; Ormond Beach, Florida; St. Augustine, Florida; Surfside, Florida;
the Smoky Mountains of Tennessee; Myrtle Beach, South Carolina; Charleston, South Carolina; Wisconsin Dells, Wisconsin;
Gordonsville, Virginia; Hershey, Pennsylvania; Branson, Missouri; Ridgedale, Missouri; Boyne Falls, Michigan; and
Aruba. Bluegreen Communities operations are predominantly located in the Southeastern and Southwestern United States.
This press release contains forward-looking statements and the Company desires to take advantage of the "safe
harbor" provisions of the Private Securities Litigation Reform Act of 1995 in connection with these statements.
Statements contained herein are not statements of historical fact may be deemed forward-looking statements. The
words "believe," "expect," "intend," "anticipate," "project,"
"may," "should," "designed to," "estimate," "hope," "plan"
and similar expressions identify forward-looking statements, which speak only as of the date the statement was
made. The Company does not undertake and specifically disclaims any obligation to publicly update or revise any
forward-looking statements, whether as a result of new information, future events, or otherwise. 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. Future events
could differ materially from those set forth in, contemplated by, or underlying such forward-looking statements.
The risks and uncertainties to which forward-looking statements are subject to include, but are not limited to,
the following: general economic conditions, the continued success of Bluegreen's sales and marketing strategies,
and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission,
including its most recent Form 10-K filed on March 29, 2004 and its Quarterly Report on Form 10-Q filed on August
16, 2004.
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Contact:
Investors:
Bluegreen Corporation
John Chiste, 561-912-8010
john.chiste@bxgcorp.com
or
Media:
Lisa Thornhill, 561-912-8251
lisa.thornhill@bxgcorp.com
or
The Equity Group Inc.
Devin Sullivan, 212-836-9608
dsullivan@equityny.com
Source: Bluegreen Corporation