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Bluegreen Corporation (BXG) Acquires Vacation Ownership Intervals in New Orleans

Bluegreen Corporation (BXG), headquartered in Boca Raton, Florida, is a provider of Colorful Place to Live and Play® through two operating divisions: Bluegreen Resorts and Bluegreen Communities. Bluegreen Resorts markets a flexible, real-estate based vacation ownership plan that allows access to over 40 resorts and an exchange network of over 3,700 resorts, cruises and hotel stays. Bluegreen Communities has sold over 55,000 planned residential and golf community homesites in 32 states.

Recently, the company announced it has acquired vacation ownership intervals (weeks) at Club La Pension in New Orleans, Louisiana, and has also acquired commercial space to establish sales and marketing operations to manage and operate the resort. Bluegreen expects to renovate the commercial space in the resort for its new Bluegreen Vacation Club® Preview Center. Sales in New Orleans are expected to begin in the 3rd quarter 2008 pending satisfaction of all applicable legal, licensing and registration requirements.

Club La Pension is one of the oldest and most successful vacation ownership resorts in New Orleans. It consists of six historic buildings, one of which is Canal Street’s oldest existing building. The resort features studio, one-bedroom and two-bedroom vacation ownership units, many of which have balconies overlooking the French Quarter. The rooftop features two sundecks with hot tubs and views of the French Quarter, river and city. Bluegreen will also be looking to develop marketing alliances with area vendors to provide additional incentives to its guests, including admission tickets to local attractions, and restaurant and merchandise certificates.

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