Press Release
April 24, 2001
BOCA RATON, FL -- Bluegreen Corporation (NYSE: BXG), a leading developer and marketer of vacation ownership resorts,
golf communities and residential land, yesterday announced that Big Cedar Wilderness Club(TM) has received the
prestigious Resort Condominiums International (RCI) Gold Crown Resort designation, RCI's top quality honor. With
this designation, Big Cedar Wilderness Club, an RCI-affiliated resort, joins an elite group of resorts around the
world formally recognized by RCI for attaining the highest levels of excellence, quality and service standards.
Big Cedar Wilderness Club, developed by Big Cedar LLC, is a joint venture between Bluegreen and Big Cedar®
Lodge. Big Cedar Lodge is the Ozarks premier wilderness resort offering a variety of unique, upscale accommodations
including lodges and private cabins. RCI, headquartered in Parsippany, NJ, is the world's leading timeshare-exchange
company, with more than 3,750 affiliated resorts in nearly 100 countries.
Big Cedar Wilderness Club is located on Table Rock Lake in the Ozark Mountains next to Big Cedar Lodge near Branson,
MO. Wilderness Club owners have full access to all amenities offered by Big Cedar Lodge, including golfing, hiking,
fishing, boating and more. Sales at Big Cedar Wilderness Club commenced in the fall of 2000, with resort availability
expected by the end of May 2001.
The RCI Gold Crown program was developed 11 years ago as a way of recognizing resort affiliates that consistently
provide superior vacation experiences for their owners and guests. The awards are determined by RCI members, based
on evaluations of vacation experiences at the individual resorts. Resort facilities and services are rated in five
categories: unit quality, hospitality, housekeeping, maintenance and check-in/check-out.
``RCI is proud to recognize Big Cedar Wilderness Club as one of our top quality resorts,'' said Kenneth May, president
and CEO of RCI. ``Being recognized as an RCI Gold Crown Resort is a distinct honor, because it is a direct reflection
of the consistently memorable and enjoyable vacations that our members have experienced there.''
George Donovan, Bluegreen president and chief executive officer, said, ``Big Cedar Wilderness Club is a unique
project, and its quality is evident in every detail. We believe that this is the premier wilderness vacation opportunity
in the country.''
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; 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 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, 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, the risk that future sales contemplated under the
timeshare purchase facility referred to above will not close, and that the Company will not enter into, on favorable
terms or at all, the new or increased acquisition and development lines of credit referred to above, 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 Form 10-Q filed on February 14, 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.
--------------------------------------------
Contact:
Bluegreen Corporation
Chief Financial Officer
John Chiste, 561/912-8010
john.chiste@bxgcorp.com
or
INVESTOR RELATIONS COUNSEL:
The Equity Group Inc.
www.theequitygroup.com
Devin Sullivan, 212/836-9608