Bluegreen Corporation Signs Exclusive Timeshare Marketing Agreement With Big Cedar Lodge and Bass Pro Shops.

Business Editors

BOCA RATON, Fla.--(BUSINESS WIRE)--June 20, 2000

Bluegreen (BXG)

Highlights

-- Innovative agreement allows Bluegreen to market Vacation Club

to Bass Pro Shops' 30 million annual retail customers and 34

million catalog subscribers.

-- Bluegreen to market at Bass Pro Shops retail stores and

catalogs, web site and via promotions.

-- Improvement in marketing efficiencies expected to begin this

fiscal year.

-- Company to begin construction on rustically elegant,

wilderness themed timeshare resort.

Bluegreen Corporation (NYSE:BXG), a leading U.S. developer and marketer of timeshare resorts, golf communities and residential land, announced today that it has entered into an exclusive marketing agreement with Big Cedar Lodge and Bass Pro Shops of Springfield, MO. Under the terms of the 10-year agreement, Bluegreen will market its Vacation Club product to Bass Pro Shops 30 million annual retail customers and 34 million catalog subscribers. Bluegreen also announced its plans to build a rustically elegant, amenity-rich, wilderness themed timeshare resort adjacent to the world-famous Big Cedar Lodge on Table Rock Lake, MO.

Started in 1974 by John L. Morris, Bass Pro Shops has become synonymous with the great outdoors. At 11 retail locations throughout 8 states, Bass Pro Shops offer consumers a variety of high-quality brand name and private label fishing, marine, hunting, camping and sports gear at value prices. The Bass Pro Shops Outdoor World showroom in Springfield - with its cascading four-story waterfall, restaurants, 250 seat auditorium and conference room -- is believed to be the state's No. 1 tourist attraction, drawing more than 4 million visitors per year.

Bluegreen plans on marketing its Vacation Club at each of Bass Pro Shops national retail locations, using, among other means, interactive kiosks, affinity card programs and other retail promotions. Bluegreen will also have an exclusive timeshare marketing presence on Bass Pro Shops web site -- www.basspro.com -- that will be linked to its Company web site -- www.bluegreenonline.com. The Bass Pro Shop web site has generated more than 26 million hits since its inception in 1996.

George F. Donovan, President and CEO of Bluegreen, commented, "Like others in our industry, Bluegreen incurs significant sales and marketing expenses in the sale of our timeshare resorts. What makes this agreement significant is the opportunity it provides to create marketing efficiencies that have previously been unattainable for timeshare developers and marketers. We will be able to cost effectively reach tens of millions of potential customers, the majority of whom share a common customer profile with Bluegreen, in a competition free environment. Bass Pro Shops may not enter into a similar marketing agreement with another timeshare company and Bluegreen is precluded from entering into a similar marketing agreement with any competitor of Bass Pro Shops."

He continued, "The success of an agreement such as this is directly proportionate to the degree to which customers trust the company they do business with. Bass Pro Shops has built a devoted following by making the great outdoors easier, more enjoyable and more affordable for millions of Americans. Their commitment to quality is complemented by an unparalleled focus on customer service - the same principles Bluegreen has adhered to in becoming one of the world's top 10 operators/developers of timeshare resorts. Through this agreement, we hope to engender the same type of brand and customer loyalty for our timeshare products that has made Bass Pro Shops and Big Cedar such successful and enduring enterprises."

Bluegreen also announced its entry into the growing, outdoor adventure vacation market by agreeing to become the managing entity in the development of a rustically elegant, wilderness themed timeshare resort at Big Cedar. Pre-construction sales are expected to commence in the fall of 2000, with construction of the project's approximately 300 vacation homes beginning at the same time. The project's first phase is scheduled for completion by the end of March 2001. It is estimated that these timeshare intervals, once constructed and sold, will generate revenues approximately $225 million over the sell-out period, based on current retail pricing. This new resort will join the 27 other timeshare resorts that are part of Bluegreen's Vacation Club.

The initial phase will be located on approximately 44 acres, and this waterfront project will introduce elegant, rustic accommodations designed to recreate the unique wilderness theme and experience of Big Cedar. Members and guests will have access to Big Cedar's extensive resort facilities and amenities, including: four dining venues, ranging from casual to elegant; fitness center; a full-service marina; health spa; riding stables; tennis; miniature golf; jogging and nature trails; heated outdoor swimming pool; and outdoor Jacuzzi. Timeshare guests will also have access to Dogwood Canyon Nature Park, a 10,000-acre private wilderness preserve, and Top of the Rock Golf Course, the first Jack Nicklaus-designed, signature executive course.

Martin MacDonald, Director of Public Relations for Bass Pro Shops, stated, "Partnering with Bluegreen allows us to deliver new and exciting leisure opportunities to our customers. We recognize the quality and service that Bluegreen provide and look forward to a long and mutually beneficial relationship."

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.

Bass Pro Shops, headquartered in Springfield, MO, is a catalog and Internet retailer and operates stores in Chicago, IL, Atlanta, GA, Islamorada, FL, Dallas and Houston, TX, Ft. Lauderdale, FL, Detroit, MI, Charlotte, NC, Springfield, MO, Orlando, FL, and Nashville, TN. Outdoor World in Cincinnati, OH is scheduled to open in late fall 2000. Big Cedar Lodge is an affiliate of Bass Pro Shops. For more information regarding Bass Pro Shops store locations, products or special events, visit their website at www.basspro.com.

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, Martin MacDonald 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, the relationship with Bass Pro Shops and the construction and development of the new timeshare resort not proceeding as expected or being as successful as contemplated 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 16, 2000. 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.