Exclusive Resorts Expands Property Portfolio

Date: July 10, 2003

Apartment Aboard Five-Star Resort Ship Provides Members a Maritime Address

Exclusive Resorts™, a private club that offers members anytime, anywhere access to a portfolio of luxury homes and sophisticated urban accommodations, has solidified its most exciting acquisition to date...a lavish apartment aboard The World of ResidenSea.

ResidenSea has captured the imagination of the ultra-luxury cruise and yacht market with the creation of The World, where suites are in fact privately owned apartments. The ship, which is a destination in its own right, continuously circumnavigates the globe. Owners, and now Exclusive Resort members, embark at enticing ports of call on five continents.

"The World of ResidenSea is to cruising what our luxury residences are to world class resorts...a way for our members to enjoy the ultimate in travel and accommodations without the burdens of ownership," notes Exclusive Resorts' CEO and the company's founder Brad Handler. "As the number of destinations in our collection of homes grows, we continually look to more exotic locations and seek out the finest accommodations and amenities. The World literally offers our members incredible destinations aboard what may be the finest vessel sailing today. It will be immensely popular."

Recently inducted onto Condé Nast Traveler's "2003 Hot List," members will enjoy a spacious one-bedroom ResidenSea suite with dining and living rooms as well as two baths. The near term itinerary ports include Alaska, Costa Rica, the Caribbean, Antarctica, Russia, Turkey, Greece, Morocco, Spain and France.

"We are thrilled to have Exclusive Resorts as our newest owners and look forward to the first visits from their members," said Robert Riley, president and CEO of ResidenSea. "The company's reputation for impeccable guest services and the caliber of members matches our own. We're delighted that The World of ResidenSea is their partner at sea."

The World is the latest in a series of new Exclusive Resorts destinations that include Los Cabos, Manhattan, Beaver Creek, San Francisco, London, Mauna Lani (Kona), Wailea (Maui), Tucson and Great Exuma (Bahamas). Before the year is out, the property portfolio will include additional locations in Deer Valley, Whistler, Scottsdale, Paris, Tuscany, Napa Valley, Florida and a Montana ranch.

About The World:
The World of ResidenSea, the only resort community circumnavigating the globe, offers travelers the choice of owning a home or enjoying a unique vacation experience at sea. This strikingly beautiful ship - elegant and intimate - promises gracious and personal service in a warm, inviting ambiance much like that of a private yacht, seaside villa or exclusive country club. For more information about The World please call 1-305-264-9090; or visit ResidenSea's website at http://web.archive.org/web/20040511021440/http://www.residensea.com/.

ResidenSea, Ltd., in Nassau, The Bahamas, is the holding company of the Group. Its wholly owned subsidiaries, ResidenSea AS and ResidenSea (U.S.A.), Inc., are both service companies involved in the sales and marketing of the vessel The World. The World of ResidenSea Ltd. is the ship-owning company.