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Strategic Alliance Benefits Developer Clients

Miami, Florida, February 14, 2005 - Interval International, a leading global vacation exchange company, today announced it has signed an agreement with MBNA America offering Interval developer clients a point-of-sale credit card option. New timeshare purchasers now have the ability to apply for and activate the Interval International WorldPoints® VISA® credit card — backed by the world’s largest independent credit card issuer — to charge a down payment on their timeshare.

Card applications will be processed at point-of-sale with decisions generally available within 15 minutes. Upon approval, consumers immediately receive their Interval WorldPoints VISA credit card account number and credit line. When an account is approved and consumers charge the timeshare down payment, they receive an immediate 500 bonus points.

Additional card benefits currently include no annual fee, a low annual percentage rate, and one point earned for every dollar of net retail purchase. Points can be used toward valuable Interval membership benefits, including renewals, upgrades, and resort accommodations certificates. Cardholders can also redeem points for cash, brand-name merchandise, and travel rewards with no blackout periods.

One of the unique features of the WorldPoints rewards program is that it gives cardholders the ability to redeem points for Gift Cards that can be used for annual resort maintenance fees and other expenses associated with their vacations. These Visa® Gift Cards are available in five different increments ranging from $25 to $500.

“This strategic alliance with MBNA provides our affiliates with an additional tool to facilitate sales,” said David Gilbert, executive vice president of Resort Sales and Marketing for Interval International. “The point-of-sale program can assist in closing more sales and reducing pending business.”

“MBNA is very pleased to be associated with Interval International and the vacation ownership industry,” said Michael Rhodes, MBNA group executive. “We look forward to offering Interval’s developer clients products and services that exceed their expectations for many years to come.”

About Interval International

Since 1976, Interval International has led the vacation ownership industry with its hallmarks of quality and innovation. Interval has a global network of more than 2,000 resorts in 75 countries, and serves its developer clients and over 1.6 million members - worldwide timeshare vacation owners - through 26 offices in 17 countries. Interval provides a variety of exchange services and year-round travel related benefits to enhance member vacation experiences. Headquartered in Miami, Florida, Interval International is an operating business of IAC, which also includes such well-known brands as Expedia, Inc.,, and Ticketmaster.

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Interval International, 6262 Sunset Drive, Miami, FL 33143