ILX RECEIVES COMMITMENT FOR ADDITIONAL $40 MILLION

Press Release: ILX Resorts Incorporated

April 3, 1999
ILX Resorts Incorporated, a leading developer, operator and marketer of upscale vacation ownership resorts in the Western United States, Thursday announced that it had consummated a $40 million timeshare receivables financing commitment from one of its two lenders at an average rate of approximately 300 basis points less than its existing credit facilities.

"This financing commitment and the commitment from our other lender announced last June validate our previously stated position that we would be able to increase the spread on new customer financings from 100 to more than 500 basis points,'' said Joe Martori, chairman of the board and chief executive officer of ILX Resorts. "The effect of these financings will continue to be evident in the growth of interest income as a component of our revenues."

ILX Resorts Incorporated develops, operates and markets upscale vacation ownership resorts. The company owns, operates and markets interests in five resort properties in Arizona and Colorado, as well as two Varsity Clubs of America properties, one in Indiana (adjacent to the University of Notre Dame) and one in Tucson, Ariz. (within three miles of the University of Arizona).

In addition, the company markets interests in resorts located in Boca Raton, Fla. and Puerto Vallarta, Mexico. The company has an additional property in San Carlos, Mexico that it markets through its Premiere Vacation Club.

This news release constitutes certain "forward-looking statements" including statements regarding, among other items, the company's growth strategy, industry and demographic trends and anticipated trends in its business. Actual results could differ materially from these forward-looking statements as a result of a number of factors, including, but not limited to, the company's need for additional financing, intense competition in various aspects of its business, the risks of rapid growth, its dependence on key personnel and other risks detailed from time to time in ILX's Securities and Exchange Commission reports. ILX Resorts Incorporated does not assume any duty to correct or update the material contained herein.