SILVERLEAF LAUNCHES SALES OFFICE IN BRANSON

Press Release: Silverleaf

March 24, 1999
Silverleaf Resorts, Inc. announced that it has launched its newest on-site sales office at its Holiday Hills Resort in the highly popular vacation area of Branson, Mo.

A significant contributor to Silverleaf's revenues for a number of years, Silverleaf has recently sold vacation ownership packages at this resort principally as an upgrade to existing owners of Silverleaf timeshare intervals. By opening this new sales office, Silverleaf intends to leverage its competitive position in the area and take advantage of the sales opportunities presented by the large number of vacationers visiting the Branson area.

"Branson is an important destination resort for us," stated Robert E. Mead, Silverleaf's Chairman and CEO. "The Holiday Hills Resort contributed over $17 million to our sales last year without an on-site sales office, providing strong evidence that our cross-marketing strategy from our drive-to resorts is a success. Our new sales office gives us the ability to directly market our vacation ownership products at the resort to the people who enjoy vacationing there."

Holiday Hills Resort has a wide range of vacation ownership products, from the very affordable to the more luxurious. A popular addition to Silverleaf's vacation offerings has been the President's Fairway units. These large, well-appointed units are located next to the resort's self-contained 18-hole golf course and are priced from approximately $12,000 to $20,000, depending on the season.

In addition to the many recreational amenities at the resort, Silverleaf is currently finishing construction of a new clubhouse, pro shop and restaurant adjacent to the golf course. The course is the site of various tournaments, attracting a large number of visitors to the resort, also contributing to the tour flow at the new sales center.

Based in Dallas, Silverleaf Resorts, Inc. currently owns and/or operates 23 resort locations 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 approximately 78,000.