Press Release
July 6, 2001
BOCA RATON, FL -- John Maloney has joined Bluegreen Corporation (NYSE: BXG) in the newly crated position of Senior
Vice President, Resort Division, Operations and Business Development.
Bluegreen is a leading U.S. developer and marketer of timeshare resorts, golf communities and residential land.
Maloney's initial responsibilities include senior management direction of the Company's newest resort, Big Cedar
Wilderness Club, in Ridgedale, MO, and the marketing alliance between Bass Pro and Big Cedar. Additionally, Maloney
will assume responsibility for corporate marketing together with call centers, as well as assist in the development
of new product lines, including the introduction of a high-end fractional sales division. He will be based at Bluegreen's
corporate headquarters.
Prior to joining Bluegreen, Maloney served as Senior Vice President, Sales and Marketing, for The Owners Club by
ClubCorp, a fractional timeshare business based in Dallas, Texas. His career experience includes 19 years in the
vacation ownership business, including marketing and sales management positions with Hilton Grand Vacations Co.
and Marriott Vacation Ownership International.
Maloney views his new assignment as ``an opportunity to create a more up-market product within the Bluegreen portfolio
of products.'' He believes his experience with Hilton's and Marriott's branded products will help in designing
programs intended to maximize the potential for the Company's new Bass Pro-Big Cedar marketing alliance, develop
lower-cost marketing programs, refine the corporate call centers and explore business opportunities that will offer
a higher yield.
``Fifteen years ago, timeshare was not a sought-after good,'' Maloney says. ``Now it is becoming more so. Branded
products have shown a high degree of embrace from consumers, and we intend to build up Bluegreen to that level.''
George Donovan, Bluegreen's President and Chief Executive Officer, states, ``John will help us maximize the Big
Cedar product, which caters to an upscale market. We believe that the potential for Big Cedar is enormous. The
Bass Pro marketing alliance, which matches the demographics of our Vacation Club, enhances this potential. John
will be creating business opportunities that will appeal to everyone from the average American family to the sophisticated
vacationer who is interested in a wilderness experience of the caliber of Big Cedar. We are delighted to welcome
him aboard.''
Bluegreen is one of the leading companies engaged in the acquisition, development, marketing and sale of timeshare
resorts, golf communities and residential land. The Company's timeshare resorts are located in a variety of popular
vacation destinations including Orlando, Florida; the Smoky Mountains of Tennessee; Myrtle Beach, South Carolina;
Charleston, South Carolina; Branson, Missouri; Wisconsin Dells, Wisconsin; Gordonsville, Virginia; Ridgedale, Missouri;
and Aruba, while its land 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 made by George Donovan, Bluegreen executives and any other statements contained herein that are not
statements of historical fact may be deemed forward-looking statements. The words ``believe,'' ``expect,'' ``intend,''
``anticipate,'' ``project,'' ``may,'' ``should,'' ``estimate,'' ``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, industry trends and actual results 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 include, but are not limited to, actual results for future periods
may differ from those estimated, consumer demand may be less than anticipated, regulatory changes, changes in national
or regional economic conditions that can affect the real estate market, risks associated with a large investment
in real estate, shortages of available inventory and other risks detailed from time to time in the Company's filings
with the Securities and Exchange Commission, including its most recent annual report on Form 10-K with respect
to fiscal 2001. 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.
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Contact:
Bluegreen Corporation
John Chiste
Chief Financial Officer
(561) 912-8010
john.chiste@bxgcorp.com
or
INVESTOR RELATIONS COUNSEL:
The Equity Group Inc.
www.theequitygroup.com
Devin Sullivan
(212) 836-9608