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Exclusive Multi-Year Agreement Covers Existing and Future Resort Properties

Miami, FL, July 22, 2005 — Interval International and the Playa del Sol Group announced that they have entered into a long-term master affiliation agreement that includes all existing and future properties in Mexico. The agreement comprises three resorts in the Vallarta area: Playa del Sol on Los Muertos Beach in "Old Town" Puerto Vallarta, Playa del Sol Grand located on Flamingos Beach in Nuevo Vallarta, and Playa del Sol Costa Sur, which is south of Puerto Vallarta.

"We are proud to extend our relationship with such a respected developer as Playa del Sol Group," said David C. Gilbert, executive vice president of resort sales and marketing for Interval International. "Its excellent reputation for upscale developments and exemplary customer service ensures that our members will enjoy memorable vacation experiences at their resorts."

"We believe that the long-term strategic partnership philosophy that Interval has embraced with its developer clients has been invaluable to our success," said Antonio Moreno, president of the Playa del Sol Group. "Working hand-in-hand with us, they provide our owners with complementary programs and services that are truly innovative in the vacation ownership industry."

Founded in 1998, the Playa del Sol Group is led by principals Ken Molinaro, Antonio Moreno, and David Kimball. Today, as one of the leading resort development consortiums in Mexico, its philosophy is to offer spacious, family-style accommodations with excellent personalized service in a variety of well-run properties on stunning beach locations in Mexico.

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