BelleHavens Forms Strategic Alliance with Kimpton Hotels and Restaurant Group; Alliance Gives BelleHavens' Members Immediate Access to Seven Kimpton Locations

Date: July 21, 2005

BelleHavens(TM) Inc., the world's first equity destination club, has formed a strategic alliance with Kimpton Hotels and Restaurant Group LLC, the leading lifestyle hotel collection. The alliance, which consists of two phases, will provide BelleHavens' members with immediate access to luxurious suites in Kimpton Hotels in some of the world's greatest cities, from New York City to San Francisco.

Kimpton Hotels will represent non-equity properties and will enhance the Club's expanding portfolio by providing its members with convenient access to accommodations in multiple cities. "Our goal is to exceed the travel needs of our members," said BelleHavens Founder and President Darin Gilson. "The inclusion of Kimpton Hotels in our BellePlaza portfolio will allow us to measure our members' usage and demand for specific metropolitan destinations while we research opportunities to purchase million-dollar, luxury residences in these cities."

Through this alliance, BelleHavens members can reserve spacious, one- and two-bedroom suites, at any of the participating Kimpton Hotels. Kimpton properties participating in Phase I include the following: 70 park avenue hotel in New York City (new), Onyx Hotel in Boston (new), Hotel Monaco in Washington D.C., Hotel Allegro in Chicago, Hotel Solamar in San Diego (new), and Hotel Palomar and Hotel Argonaut in San Francisco. These roomy suites feature stunning cosmopolitan vistas, and luxurious accents unique to each distinctive property. BelleHavens anticipates announcing Phase II of this alliance later this summer.

"Kimpton Hotels is an ideal partner for BelleHavens because it strives to provide its guests with unique travel experiences, which goes hand-in-hand with our goal of providing our members with the perfect blend of luxury, adventure and sensibility," said Gilson. "We're looking forward to working with Kimpton to provide our members with one-of-a-kind travel experiences."

BelleHavens is developing four distinct property portfolios: BelleSummit (mountain resorts), BelleSol (beach and golf locations), BelleVista (regional getaways) and BellePlaza (metropolitan destinations). In addition to planning Phase II of its Kimpton Hotel alliance, BelleHavens continues its aggressive property acquisition plan of single family residences in domestic destinations such as Hilton Head Island, S.C.; Scottsdale, Ariz.; Florida; and international destinations such as Italy, Mexico and the Caribbean.

About Kimpton Hotels and Restaurant Group LLC
Kimpton is a San Francisco-based company known for its collection of stylish independent lifestyle hotels that are coupled with fine chef-driven restaurants. Founded in 1981, the company currently operates 38 hotels and restaurants across the United States United States and Canada. Kimpton's combination of unique design, outstanding service and an adjacent destination restaurant has proven a great success. Kimpton's signature elements are care, comfort, style, flavor and fun. For more information, please visit www.kimptonhotels.com or call 800-Kimpton.

About BelleHavens
BelleHavens(TM) Inc. is the world's first equity destination club. Members of BelleHavens collectively own the Club's diversified property portfolio, and have exclusive and convenient access to million-dollar residences without the worry of maintenance, repairs or upgrades. BelleHavens' homes are located in premier beach, golf, mountain and city destinations. In addition, BelleHavens' members enjoy endless amenities and service options, including pre-arrival travel planning and concierge privileges. For more information on BelleHavens, visit www.bellehavens.com or call 866-342-8367.