Company Press Release
May 3, 2000
REDMOND, WA -- Trendwest Resorts, Inc. (Nasdaq:TWRI) yesterday announced that it has named Tim O'Neil as chief
financial officer. O'Neil replaces Gary Florence, chief financial officer and treasurer, who is returning to the
Company's majority shareholder, JELD-WEN, in a promotion to vice president of Financial Services.
``I hired Tim in February 1999 under the Company's long standing practice of training your own replacement,'' said
Florence. ``I had made a three year commitment when we started the process of taking the Company public. Since
the IPO in August of 1997, I believe Trendwest has established itself as a clear industry leader through its points
based system and network of resorts. I am proud of what we have accomplished at Trendwest during my tenure, and
I will miss my many friends and colleagues at Trendwest.''
``Tim's background in finance, extensive market experience and tenure on our senior management team make him the
logical choice to assume this new role,'' said Bill Peare, chief executive officer. ``We deeply appreciate Gary's
dedication and contributions over the past three years, and we wish him well with his new endeavors,'' added Peare.
O'Neil has served as Trendwest's vice president of Finance. Prior to his role at Trendwest, O'Neil, who is 37 years
old, spent ten years at Bank One Corp. and its predecessor companies, First Chicago NBD and NBD Bank, in loan syndications
and corporate banking. O'Neil also worked with Florence as the placement agent on the Company's first private placement
in 1996. O'Neil received his B.S. in Management at John Carroll University and his M.B.A. in Finance from University
of Detroit.
Trendwest Resorts, Inc. is a leader in the timeshare industry. Through its exclusive relationship with WorldMark,
The Club, the Company provides a flexible vacation ownership system, based on use of vacation credits, to over
92,000 owners through 1,680 condominium units at 31 locations in the continental Western United States, Hawaii,
British Columbia, Mexico and Fiji.
The addresses for the Company and WorldMark on the World Wide Web are www.trendwestresorts.com and www.worldmarktheclub.com.
Statements herein contain forward-looking information concerning the Company's future prospects and other forecasts
and statements of expectations. Actual results may differ materially from those expressed in the forward looking
statements made by the Company due to, among other things, the Company's ability to develop or acquire additional
resort properties, find acceptable debt or equity capital to fund such development, achieve planned sales levels,
as well as other risk factors described in the Company's SEC reports and filings.
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Contact:
Trendwest Resorts, Inc.
Tim O'Neil, 425/498-2561
or
Morgen-Walke Associates, Inc.
Jennifer Winter, 415/296-7383 (Investor Relations)
Aeron Noe, 415/296-7383 (Media Relations)
Eric Gonzales, 212/850-5600 (Wire Services)