RESORTQUEST INTERNATIONAL ENTERS POPULAR LAKE ERIE VACATION MARKET; COMPANY ANNOUNCES THIRD ACQUISITION IN THREE WEEKS

Press Release: ResortQuest International

July 6, 1999
MEMPHIS, Tenn.--ResortQuest International, Inc. (NYSE: RZT), the first brand name and online booking service (ResortQuest.com) in vacation condominium and home rentals, sales and property management services, announced that the company has acquired Shoreline Properties, Inc. in Port Clinton, Ohio for a combination of cash and stock.

The acquisition--the third in the last three weeks--marksResortQuest's entry into the popular fishing and boating vacationresort market along the southern shore of Lake Erie.

The acquisition brings to 10 the number of resort propertymanagement companies ResortQuest has purchased in 1999, aggregatingnearly 5,000 units. Since the company's IPO in May 1998, ResortQuesthas acquired a total of 15 property management companies. IncludingShoreline Properties, ResortQuest now offers more than 15,000 vacationrentals in 34 premier resort destinations across the U.S. and inCanada.

Founded in 1985, Shoreline Properties in Port Clinton, Ohio, islocated in the heart of Lake Erie Islands, a popular regional resortand recreation area featuring beaches, boating, sailing, fishing andwaterskiing. Shoreline provides property management services for morethan 200 predominantly condominium and townhouse properties andmanages three owner associations in this established lakefrontcommunity.

"The Port Clinton acquisition adds a new destination with adistinct, regional flavor to our portfolio of vacation resorts," saidDavid Sullivan, chairman and chief executive officer. "Port Clintonand the whole Lake Erie Islands area is a Midwest Mecca for boatingand fishing enthusiasts. Port Clinton also is within 20 minutes of oneof the nation's most popular amusement parks, Cedar Point, making it aparticularly appealing vacation spot for families."

"Shoreline Properties is a strong addition to our summer resortdestinations and increases the geographic and experiential range ofour resort offerings," said David Levine, president and chiefoperating officer. "With revenues totaling more than $2 million lastyear, Shoreline Properties is the largest vacation property managementcompany in the area. This is our first acquisition in Ohio, and we'redelighted Shoreline Properties will be joining the ResortQuest family.In addition, the Lake Erie purchase increases our universe of feedermarkets, providing enhanced cross-selling opportunities to our other33 resort locations."

Memphis-based ResortQuest International provides the firstone-stop resource for vacation home and condominium rentals in 34premier resort destinations in North America. ResortQuest's totalportfolio now comprises more than 15,000 vacation rental properties.ResortQuest also is the first branded vacation rental, propertymanagement and real estate sales company to offer online bookingthrough ResortQuest.com.

ResortQuest's current locations include Gulf Shores, Ala.;Phoenix, Scottsdale and Tucson, Ariz.; Palm Desert and Palm Springs,Calif.; Aspen, Breckenridge, Crested Butte, Dillon and Telluride,Colo.; Bethany Beach, Del.; Captiva Island, Destin, Ft. Myers, Ft.Walton Beach and Sanibel Island, Fla.; St. Simons Island,Ga.; Hawaii,Maui, Oahu, and Kauai, Hawaii; Nantucket, Mass.; Big Sky, Mont.; theOuter Banks of North Carolina; Port Clinton, Ohio; Sunriver, Ore.;Hilton Head Island, S.C.; Park City, Utah; and Whistler, BritishColumbia.

The matters in this press release include "forward lookingstatements" within the meaning of the safe harbor provisions ofSection 27A of the Securities Act of 1933 and Section 21E of theSecurities Exchange Act of 1934 and are qualified by cautionarystatements contained herein and in ResortQuest International's filingswith the Securities and Exchange Commission.

CONTACT:
ResortQuest International
Jeff Jarvis
901/762-0600
or
Daly Gray Public Relations
Jerry Daly or Carol McCune (Media)
609/383-1414