NEW YORK--(BUSINESS WIRE)--Jan. 24, 2000--The following was announced today by the law firm of Milberg Weiss
Bershad Hynes & Lerach LLP:
Notice is hereby given that a class action lawsuit was filed on Jan. 21, 2000, in the United States District Court
for the Middle District of Florida, on behalf of all persons who purchased the common stock of Sunterra Corp. (``Sunterra''
or the ``Company'')(NYSE:OWN) between Oct. 4, 1998, and Jan. 19, 2000, inclusive (the ``Class Period'').
If you wish to discuss this action or have any questions concerning this notice or your rights or interest with
respect to these matters, please contact Milberg Weiss Bershad Hynes & Lerach (``Milberg Weiss''), in Boca
Raton: Kenneth Vianale or Maya Saxena at 5355 Town Center Road, Suite 900, Boca Raton, Florida 33486, by telephone
(561) 361-5000, or in New York: Steven G. Schulman or Samuel H. Rudman at One Pennsylvania Plaza, 49th Floor, New
York, New York 10119-0165, by telephone 1-800-320-5081 or via e-mail: enfraud@mwbhlny.com or visit our website
at www.milberg.com.
The complaint charges Sunterra and certain of its senior officers and directors with violations of Sections 10(b)
and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The complaint alleges that
defendants issued a series of materially false and misleading statements concerning the Company's financial condition,
revenues and earnings. Because of the issuance of a series of materially false and misleading statements the price
of Sunterra common stock was artificially inflated during the Class Period.
Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Milberg Weiss,
and others. Milberg Weiss maintains offices in New York City, San Diego, Los Angeles, San Francisco and Boca Raton
and is active in major litigations pending in federal and state courts throughout the United States. Milberg Weiss
has taken a leading role in numerous important actions on behalf of defrauded investors, and is responsible for
a number of outstanding recoveries which, in the aggregate, total approximately $2 billion. For more information
about Milberg Weiss, please visit our website at www.milberg.com.
If you are a member of the class described above you may, not later than sixty days from Jan. 21. 2000, move the
Court to serve as lead plaintiff of the class, if you so choose. In order to serve as lead plaintiff, however,
you must meet certain legal requirements.
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Contact:
Milberg Weiss Bershad Hynes & Lerach LLP
Boca Raton Office
Kenneth Vianale
Maya Saxena
The Plaza
5355 Town Center Road
Suite 900
Boca Ration, Fla.
561/361-5000
or
New York Office
Shareholder Services Dept.
1-800-320-5081
E-Mail: endfraud@mwbhlny.com