Press Release
November 12, 2001
BOCA RATON, FL -- Bluegreen Corporation (NYSE: BXG), a leading developer and marketer of vacation ownership resorts,
golf communities and residential land, has launched a series of new marketing programs intended to enhance the
vacation experiences of its Bluegreen Vacation Club members.
Introduction of the programs, developed under the supervision of Joe Russoniello, Bluegreen senior vice president
of marketing, began last month. ``The overall objective of the new product lines is to provide more vacation opportunities
for our owners and potential owners, and at the same time enhance our Bluegreen brand,'' says Russoniello.
The Bluegreen Preferred Membership program tiers Bluegreen Vacation Club membership into graduated levels, with
each higher tier offering more enhanced benefits. This is similar to American Express' deployment of benefits for
its green, gold and platinum cardholders. The second program, Vacation Preview Membership, offers one-year trial
Bluegreen Vacation Club memberships that allow prospective members to ``try it before you buy it.'' This preview
program, already a proven success for the Company, has been enhanced with new benefits. The third program, Encore
Rewards, is a major loyalty program intended to give owners an opportunity to refer friends and family to Bluegreen.
The ultimate objective is that those who are referred purchase a membership in the Bluegreen Vacation Club, according
to Russoniello. The program replaces one that was more limited in scope. A significant aspect of the Encore Rewards
program, and one that is believed to be unique to the industry, is the ability for members to track the status
of their referrals online.
``The totality of the marketing programs,'' says Russoniello, ``is to establish and enhance our Bluegreen brand
with new products, to give the sales associates new tools and selling opportunities and to generate additional
profits for the Company. We are excited about the potential prospects for these new products.''
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;
Surfside, Florida; 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 Joe Russoniello 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, consumer acceptance of the programs
referred to in this release will 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 and its most recent quarterly
report on Form 10-Q. . 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 Joseph G. Russoniello
Senior Vice President, Marketing
561/912-7976
or
INVESTOR RELATIONS COUNSEL:
The Equity Group Inc.
Devin Sullivan, 212/836-9608
www.theequitygroup.com