Ultimate Escapes Has Reactivated Suspended Members

Date: August 11, 2009

Effective Immediately, Members Invited To Book Travel

Ultimate Escapes, a leading operator of luxury destination clubs, announced today that more than 300 club Members previously suspended for non‐payment of a special assessment fee in January 2009, have been reinstated to active Member status. The reactivated Members will now be eligible to make Club reservations and enjoy access to thousands of available nights in a unique collection of hundreds of multi‐million dollar private residences and luxury hotels in more than 150 global destinations, including the world’s best resort destinations in the U.S., Mexico, the Caribbean and Europe. With the reactivation of more than 300 Members, Ultimate Escapes now has over 1,200 active Members and is largest destination club in the $1 million and $2 million club home categories and is the second largest destination club in the $3 million‐plus club home category.

As part of the Reinstatement Program, reactivated Members will forgo various Club benefits earned by Members who paid the Assessment earlier this year, including extra travel days each year, an increase of 10 percent in redemption proceeds (allowing Members to receive a 90 percent redemption at the time of resignation), and participation in the Club’s Assessment Repayment Plan. Newly reactivated Members will be charged outstanding dues and any unpaid Assessment charges, plus 10 percent per year interest, will be deducted from the redemption proceeds upon a reactivated Member’s resignation.

“Issuing an assessment in January was a tough but necessary and prudent decision, and time has shown it was absolutely the right decision to help strengthen the Club for long‐term sustainability in an unprecedented economic environment,” said Jim Tousignant, president and CEO of Ultimate Escapes. “We want to continue to reward those Members who have been supportive through this process, while at the same time, make decisions that allow the Club to operate effectively for the long term. In addition to cutting our annual operating costs by over $15 million per year and right‐sizing our real estate portfolio, we feel that reactivating all Members to active Club status is in the best interest of all members and the Club.”

“Membership in Ultimate Escapes has always been a very personal partnership for our team and our members,” said Richard Keith, chairman of Ultimate Escapes. “We want our Members to enjoy the portfolio of homes; we want them to travel; and to continue to create lifetime memories with their families and friends. I’m so delighted to be sharing the full benefits of the Club with all of our Members once again.”

“I am happy that Ultimate Escapes is able to reinstate the suspended Members,” said Jay Rosenbaum, Ultimate Escapes Member. “I am looking forward to enjoying many more travel experiences with friends and family for years to come.”

About Ultimate Escapes
Ultimate Escapes® is a leading luxury destination club. Members enjoy flexible access to a growing collection of hundreds of multi‐million dollar private residences and luxury hotels in more than 150 global destinations. Locations range from chic urban apartments to charming beach cottages, spacious five‐bedroom homes to an 80‐foot private yacht. Each trip is coordinated by experienced, knowledgeable staff, trained to handle every vacation detail. The Ultimate Escapes brand is about delivering memorable, luxury travel experiences to Members who place great value on spending quality time with their family and friends. Additional information can be found at http://www.ultimateescapes.com/.