Bluegreen Appoints John Laguardia to Its Board of Directors.

Business Editors

BOCA RATON, Fla.--(BUSINESS WIRE)--Nov. 28, 2000

Bluegreen Corporation (NYSE:BXG), a leading U.S. developer and marketer of timeshare resorts, golf communities and residential land, today announced the appointment of John Laguardia to its Board of Directors. Mr. Laguardia brings nearly 40 years of general management, corporate finance and residential land development experience to Bluegreen.

Mr. Laguardia, 61, is currently President and Chief Operating Officer of ALH II, Inc., a holding company involved in the roll up of regional homebuilders located in the southeastern United States. From 1997- 1999, he was Executive Vice President and Chief Operating Officer of Atlantic Gulf Communities Corporation (OTCBB:AGLF), one of the Sun Belt's major developers of residential lots for builders of resorts and primary communities. Mr. Laguardia also served as President and Chief Executive Officer for American Heritage Homes from 1994-1997. American Heritage Homes is a premier builder of entry level and first time move up homes. Since 1992 he has served as Receiver and Trustee of Tompkins Investment Group, a developer of residential and commercial real estate. From 1990-1992, he was Senior Vice President and Chief Financial Officer of Fairfield Communities, Inc. (NYSE:FFD).

George Donovan, President and Chief Executive Officer of Bluegreen, stated, "John's hands-on experience in land development, finance and management will be vital assets as we continue to strengthen our position in the residential land and golf communities markets. We expect that John will apply these skills while working in tandem with our talented management team and look forward to his contributions."

Bluegreen also announced the resignations of Frederick M. Myers and Joseph C. Abeles from the Board of Directors. Both men resigned to devote more time to their respective business interests. Mr. Myers had served as Chairman of the Board of Directors since 1997. Bluegreen has chosen not to elect a new Chairman of the Board at this time. Mr. Abeles had been a member of Bluegreen's Board of Directors since 1987; he has been named Director Emeritus. With these resignations and the appointment of Mr. Laguardia, Bluegreen's Board of Directors has been reduced to eight members from nine.

Mr. Donovan commented, "On behalf of the Board and management, I would like to thank Fred and Joe for their years of service and dedication to Bluegreen. We are fortunate to retain Joe's experience and counsel in his role as Director Emeritus."

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 undertakes no 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 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 most recent quarterly report on Form 10-Q. 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.