Bluegreen Adds Online Reservation Service for Vacation Rental Properties.

Business & Travel Editors

BOCA RATON, Fla.--(BUSINESS WIRE)--Feb. 21, 2001

Bluegreen Corp. (NYSE: BXG), a leading developer and marketer of vacation ownership resorts, golf communities and residential land, today announced the launch of an innovative online reservation service for its Vacation Rentals division.

Clients can now book reservations at any of more than 45 vacation resorts included on Bluegreen Vacation Rentals' web site, www.bluegreenrentals.com. The online system will generate real-time responses, so clients will know instantaneously whether their request has been met. System users will receive the same mail confirmation and follow-up that they would have received had they booked their reservations by calling Bluegreen's toll-free number (800-456-0009) or by using a travel agent.

The new service will capitalize on the growing popularity of the Internet for vacation planning purposes. According to Shawn Ericson, Bluegreen senior vice president of resort management, "All market indicators point to a surge in online travel buying. By implementing online reservations, we have set a precedent to be followed by our competitors and introduced a necessary tool to better serve the changing needs of travel consumers today."

Joe Russoniello, Bluegreen senior vice president of marketing, added that the Company intends to further develop its web presence. "This online reservation capability is another new feature on Bluegreen's web site and we anticipate many more to come," he said.

The new service is a partnership effort with Houston-based Webvertising, whose iHotelier reservation system is used by hotels throughout the United States, Central America and Asia to book guest reservations. Webvertising spent the past few months working closely with Bluegreen, customizing iHotelier to meet the unique requirements of Bluegreen Vacation Rentals' properties, according to Drew Rosser, regional sales director of Webvertising. Unlike conventional hotel online reservation systems, which are designed to book single night accommodations, Bluegreen's various rental properties have unique and inconsistent needs. Minimum overnight commitments range from one or two nights to a week, depending on the resort's specific location and the time of year.

Rod Jimenez, chief executive officer of Webvertising, said that, although Bluegreen's unique requirements created "an exciting challenge," that challenge could be met because "from the very beginning, Bluegreen knew what they wanted, and dedicated the necessary resources to help us make it happen. They have a very clear vision of how the Internet can help their clients, and we are looking forward to helping them by providing our web-based tools to make that vision a reality."

Bluegreen's online system will give clients the ability to book travel reservations in the comfort of their own home and at any hour, even when the rentals call center is closed, according to Lani Liber, Bluegreen director of Rentals and Owner Reservations. "The Rentals Division has long thought of providing an online reservation capability, but we didn't have the technical resources to do it on our own," Liber said. "Partnering with a third-party vendor such as iHotelier has kept us from having to reinvent the wheel and take the lead ourselves," she added.

Although other vendors offered similar services, Liber said Bluegreen opted to join forces with iHotelier because of that company's strong technical staff, background, their ability to provide needed services at reasonable cost and their flexibility.

Industry statistics indicate that half of all Americans -- more than 100 million adults -- say they use travel media to plan their vacations. According to the lodging, gaming and leisure research group of Bear Stearns & Co., Inc., "The Internet is the best thing to happen to the hotel industry since the toll-free phone number." According to the investment firm, hotel bookings via the Internet should generate $3.1 billion in revenues by 2002, up from less than $100 million in 1997.

Bluegreen is one of the leading companies engaged in the acquisition, development, marketing and sale of timeshare resorts, golf communities and residential land. The Company's timeshare resorts are located in a variety of popular vacation destinations including Orlando, Florida; the Smoky Mountains of Tennessee; Myrtle Beach, South Carolina; Charleston, South Carolina; Branson, Missouri; Wisconsin Dells, Wisconsin; Gordonsville, Virginia; and Aruba, while its land operations are predominantly located in the Southeastern and Southwestern United States.

This press release contains forward-looking statements and the Company desires to take advantage of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 in connection with these statements. Statements made by George Donovan and any other statements contained herein that are not statements of historical fact may be deemed forward-looking statements. The words "believe," "expect," "intend," "anticipate," "project," "may," "should," "estimate," "plan" and similar expressions identify forward-looking statements, which speak only as of the date the statement was made. The Company does not undertake and specifically disclaims any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Forward-looking statements are based on current expectations and assumptions and are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified and many of which are beyond the Company's control. Future events, industry trends and actual results could differ materially from those set forth in, contemplated by, or underlying such forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, regulatory changes, changes in national or regional economic conditions that can affect the real estate market, risks associated with a large investment in real estate, shortages of available inventory, the risk that future sales contemplated under the timeshare purchase facility referred to above will not close, and that the Company will not enter into, on favorable terms or at all, the new or increased acquisition and development lines of credit referred to above, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K and its Form 10-Q filed on February 14, 2001. Given these risks and uncertainties, investors are cautioned not to place undue reliance on such forward-looking statements and no assurances can be given that such statements will be achieved.