Four Seasons Hotels and Resorts selects Interval International for exchange partner; hospitality company joins vacation wwnership industry.

MIAMI--(BUSINESS WIRE)--March 6, 1997--Four Seasons Hotels and Resorts, a leading operator of luxury hotels, has entered the vacation-ownership industry and selected Interval International as its vacation-exchange partner.

"Four Seasons promises to chart new territory in the vacation-ownership industry and to set the same standard the company has established in luxury hotels," said Anthony Sharp, Four Seasons' vice president of vacation ownership for the Toronto-based hotel and resort management firm. "This development is a natural extension of what Four Seasons already offers its clientele. It now provides timeshare buyers with the opportunity to own a Four Seasons vacation experience, ensuring exclusivity, top-quality service and a diverse menu of leisure activities."

Four Seasons' first vacation-ownership project, Four Seasons Resort Club Aviara, is now under development in Carlsbad, Calif. (in northern San Diego County), with the first units ready to occupy in December 1997. Pre-sale efforts have begun and model units will open in July. The 240 villas will be situated in three separate communities in Aviara, a 10,000-acre planned community, which features a 331-Four Seasons Resort (opening Summer 1997) and an Arnold Palmer-designed golf course.

"We're very happy with our decision to affiliate with Interval International," said Sharp. He explained that the companies' shared commitment to excellence in product and service delivery played a major role in the decision by Four Seasons to choose Interval International as its exchange partner.

Craig M. Nash, Interval International's president and chief executive officer, noted that Four Seasons joins a growing list of brand-name hospitality companies which have affiliated with Interval International.

"All of us at Interval International feel highly honored that Four Seasons has recognized our continuing efforts to maintain the highest possible level of quality in vacation exchange," said Nash. Interval International will provide service for internal as well as external exchanges to the Four Seasons vacation owners, who will speak with a group of vacation counselors specifically trained for this purpose.

Interval International, The Quality Vacation Exchange Network, provides vacation-exchange services to more than 750,000 consumer-member families with over 1,400 member resorts in more than 60 countries. Interval maintains its world headquarters in Miami, and has 30 other offices around the world. The company's Internet web site address is http://www.interval-intl.com .

Interval International is a wholly owned subsidiary of CUC International Inc. (NYSE:CU), which is based in Stamford, Connecticut, and trades on the New York Stock Exchange. CUC is a leading technology-driven, membership-based consumer-services company that currently provides 63.8 million members with access to a variety of services, including discount home shopping, travel, hotel discounts, insurance, automotive, dining, home improvement, credit-card and checking-account enhancement packages, lifestyle clubs, and discount-coupon programs. -0-

NOTE TO EDITORS: In the World Wide Web address noted in this news release, there is a double slash between http: and www.interval-intl.com. These symbols may not appear properly in some systems.

CONTACT: Interval International, Miami

Barbara V. Crown, 305/666-1861 Ext. 6409

or George Leposky, Ext. 702