Virtuoso Enters into Strategic Alliance with Exclusive Resorts

Date: April 8, 2004

Luxury Travel Network to Provide Travel Services, Exclusive Travel Offers to Residence Club Clients and Club Membership Referrals

Virtuoso, the $3 billion luxury travel network, has entered into a multi-year strategic alliance with Exclusive Resorts, LLC, the pioneer and global leader in the luxury residence club industry. Virtuoso has chosen Exclusive Resorts as its luxury residence club of choice and Virtuoso's travel specialists will offer Exclusive Resorts' residence club memberships to their clientele. In addition, Virtuoso travel specialists will be the exclusive travel planning and services provider, as well as create unique and specialized travel experiences for club members.

"Both Virtuoso and Exclusive Resorts cater to a highly affluent and discriminating traveler," said Virtuoso CEO Matthew Upchurch, CTC. "The caliber of services and travel products that we both bring into this relationship will enhance what both companies can offer to their clients, so this is an ideal match."

Exclusive Resorts' members will benefit from Virtuoso's network of 6,000 travel specialists, who will orchestrate destination excursions, air/yacht charters, as well as private and commercial air transportation arrangements. To enrich the quantity and quality of in-residence activities at all Exclusive Resorts locations, Virtuoso will create custom excursions, working closely with Exclusive Resorts' Member Services Managers and Residence Concierges. Virtuoso will also design exclusive travel experiences for regions that presently do not feature Exclusive Resorts residences.

"Virtuoso is the world's preeminent network of luxury travel agencies for the affluent and sophisticated leisure traveler," said Brent Handler, President and co-founder of Exclusive Resorts. "Being selected as Virtuoso's exclusive partner for the luxury residence club category validates and affirms Exclusive Resorts' position as the recognized leader in the industry. Our goal is to provide our members with nothing less than the finest experiences and services, and we will continue to fulfill this commitment by having Virtuoso become an integral part of, as well as an adjunct to, the member services component of Exclusive Resorts."