Bluegreen Corporation Reports No Significant Damage from Recent Hurricanes.BOCA RATON Boca Raton (bō`kə rətōn`), city (1990 pop. 61,492), Palm Beach co., SE Fla., on the Atlantic; inc. 1925. Boca Raton is a popular resort and retirement community that experienced significant industrial development in the 1970s and 80s. , Fla. -- Bluegreen Corporation (NYSE NYSE See: New York Stock Exchange : BXG), a leading provider of leisure products and lifestyle choices, today announced that its Bluegreen Communities Bluegreen Communities™ is a publicly traded land developer on the New York Stock Exchange. Bluegreen develops planned residential communities or planned unit developments (PUDs) by acquiring large sections of unimproved land outside major U.S. properties, including its properties in Texas, and its Bluegreen Resorts The Bluegreen Resort Company was started in 1984, to partner with timeshare resorts. It has grown into a major player in the timeshare community. Bluegreen is traded on the New York Stock Exchange with the symbol BXG. Its primary competitor is Marriott Vacation Club International. in Florida and the Gulf Coast, sustained no significant damage as a result of Hurricanes Rita or Katrina. No Bluegreen Resorts are located in Texas or any of the affected areas. Further, the Company does not believe that the general overall impact of these storms will have an adverse financial impact on its sales or results of operations. George F. Donovan, President and Chief Executive Officer of Bluegreen Corporation, commented, "Our thoughts are with those who were affected by these disasters. Although we prepared for the worst, Bluegreen(R) employees and properties, thankfully, emerged unscathed. Bluegreen Communities sales offices in The Settlement at Patriot Ranch in Luling, TX (near San Antonio San Antonio (săn ăntō`nēō, əntōn`), city (1990 pop. 935,933), seat of Bexar co., S central Tex., at the source of the San Antonio River; inc. 1837. ) and Saddle Creek Forest, in Magnolia, TX (near Houston) were open for business on Monday, September 26, 2005." ABOUT BLUEGREEN CORPORATION Bluegreen Corporation (NYSE:BXG) is a leading provider of places where people live and play. The company has approximately 4,900 employees working in two divisions: Bluegreen Resorts and Bluegreen Communities. Bluegreen Resorts markets and sells the Bluegreen Vacation Club(R), a flexible points-based vacation ownership system with access to over 35 resorts and an exchange network of over 3,700 resorts and other leisure products such as cruises. During 2004, Bluegreen Resorts delivered over 140,000 unique vacation experiences to over 134,000 owners. Bluegreen Communities develops, markets and sells planned residential and golf communities predominately in the southeastern and southwestern United States. Bluegreen Communities has sold over 49,000 homesites in 32 states since 1985. Founded in 1966, Bluegreen is headquartered in Boca Raton, FL. In 2004 Bluegreen was ranked #67 on Forbes' list of the "The 200 Best Small Companies" and in 2005 was ranked #48 on FORTUNE'S list of "America's 100 Fastest Growing Companies." Statements in this release may constitute forward looking statements and are made pursuant to the Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Provision of the Private Securities and Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995. Forward looking statements are based largely on expectations and are subject to a number of risks and uncertainties including but not limited to the risks and uncertainties associated with economic, competitive and other factors affecting the Company and its operations, markets, products and services, as well as the risk that the impact of Katrina and Rita on the economy or economic conditions generally could impact the Company's results, that severe weather activity in the future could damage the Company's properties and/or negatively impact its operations, and the risks and other factors detailed in the Company's SEC filings, including its most recent Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. filed on March 16, 2005 and its Quarterly Report on Form 10-Q Form 10-Q See 10-Q. filed on August 9, 2005. |
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