Press Release
April 30
DALLAS, TX -- Silverleaf Resorts, Inc. (NYSE:SVR) announced April 27 that the New York Stock Exchange (NYSE) has
notified Silverleaf that it currently falls below the continued listing requirements with respect to the average
market capitalization and closing price over a thirty-day trading period.
While Silverleaf has exceeded the required levels in the past, it does not currently do so.
As required by the NYSE, Silverleaf intends to submit a plan to the NYSE Listing and Compliance Committee demonstrating
how it plans to comply with the listing standards by June 4, 2001. If the Committee accepts the plan, Silverleaf
will be subject to quarterly monitoring for compliance with the plan. If the Committee does not accept the plan,
Silverleaf will be subject to NYSE trading suspension and delisting. Should Silverleaf shares cease to be traded
on the NYSE, Silverleaf will pursue an alternative trading venue.
Based in Dallas, Texas, Silverleaf Resorts, Inc. currently owns and/or operates 22 resorts in various stages of
development. Silverleaf resorts offer a wide array of country-club like amenities, such as golf, swimming, horseback
riding, boating, and many organized activities for children and adults. Silverleaf has a managed ownership base
of over 122,000. Further information on the Company may be found on its website, www.silverleafresorts.com.
This release contains certain forward-looking statements which involve risks and uncertainties and actual results
may differ materially from those anticipated. The Company is subject to specific risks associated with the timeshare
industry, the regulatory environment, and various economic factors. Additionally, anticipated results are dependent
upon the Company's ability to identify and acquire or develop other operations under terms which are beneficial
to the Company and its shareholders. Other risk factors are more fully discussed under ``Cautionary Statements''
in the Company's SEC reports, including the Company's 1999 annual report on Form 10-K (pages 29 through 35), and
the current reports on Form 8-K dated February 27, 2001 and April 2, 2001.
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Contact:
Silverleaf Resorts, Inc.
Harry J. White, Jr., 214/631-1166