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Miami‚ FL‚ June 23‚ 2005 — Interval International‚ a leading global vacation exchange company‚ and resorts affiliated with its exchange network‚ announced their continued financial support of Caribbean tourism education with a $20‚000 donation to the Caribbean Tourism Organization (CTO) Education Foundation. The check‚ representing the single largest monetary contribution by the private sector‚ was presented by Craig M. Nash‚ chairman and chief executive officer of Interval International‚ to Pamela C. Richards‚ CTO chairman and commissioner of tourism for the U.S. Virgin Islands‚ and Jacqueline Johnson‚ CTC‚ chairman‚ CTO Foundation‚ during the recent Caribbean Week in New York City. Interval International and its affiliated resorts are long-term supporters of the Foundation donating more than $100‚000 to date.

The CTO Education Foundation was established in 1997 to provide scholarship opportunities for Caribbean nationals pursuing studies in the tourism and hospitality industries‚ as part of CTO’s effort to demonstrate its commitment to the development of highly skilled tourism personnel in the region. Since its inception‚ the CTO Foundation has provided 21 scholarships and 54 study grants to deserving Caribbean nationals amounting to more than $400‚000.

“We are extremely pleased to support the Foundation in its efforts to educate Caribbean students in the hospitality and tourism professions because these areas are so vital to the region's economy‚” commented Craig M. Nash‚ chairman and chief executive officer of Interval International. “We thank our resort affiliates for their participation and their ongoing commitment to this very worthwhile endeavor.”

“Interval International has been a kind and generous friend to the CTO Education Foundation through both its monetary donations and its tremendous zeal for the Caribbean‚” said Richards. "Providing more students with an opportunity to build thriving careers in Caribbean hospitality and tourism will ensure regional growth and development for many years to come.”

“The CTO Foundation was established to provide economic assistance to the leadership and development of a cadre of young Caribbean professionals who can manage and develop this great potential force for a better future‚” said Johnson. “The scholarship fund continues to flourish because of the generosity of corporations who do business in the region. We give our sincere thanks to Interval International and its resort affiliates who contribute to this worthy cause.”

The Caribbean resorts that made a contribution to the scholarship fund include: Aquarius Vacation Club at Embassy Suites Hotel® Dorado del Mar Beach & Golf Resort (Puerto Rico); Casa del Mar Beach Resort (Aruba); Hyatt Hacienda del Mar (Puerto Rico); Island Seas Resort (Bahamas); La Cabana Villas (Aruba); Oyster Bay Beach Resort (St. Maarten); Pelican Resort Club (St. Maarten); Royal Palm Club at the Aruba Grand (Aruba); ESJ Towers (Puerto Rico); and The Village at The St. James’s Club (Antigua).

CTO is the region’s tourism development agency for 32 member governments and numerous private sector companies. The CTO’s primary objective is to provide its members with the services and information needed for the development of sustainable tourism for the economic and social benefit of the Caribbean people. The organization provides specialized support and technical assistance to member countries in the areas of marketing‚ human resource development‚ research and statistics‚ and sustainable tourism development.

Since 1976‚ Interval International has led the vacation ownership industry with its hallmarks of quality and innovation. Interval has a global network of over 2‚000 resorts in 75 countries‚ and serves its developer clients and more than 1.7 million members – worldwide timeshare vacation owners – through 27 offices in 18 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 part of IAC‚ which operates leading and diversified businesses in sectors being transformed by the Internet‚ online and offline. Other IAC companies include Ticketmaster‚ HSN‚ Lending Tree‚ Citysearch‚ and Entertainment Publications.​​

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Interval International, 6262 Sunset Drive, Miami, FL 33143