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INTERVAL INTERNATIONAL AND ITS RESORT AFFILIATES SUPPORT CTO EDUCATION FOUNDATION WITH $30,000 DONATION TO CARIBBEAN TOURISM SCHOLARSHIP FUND FOR THE FOURTH CONSECUTIVE YEAR

Miami, FL, June 16, 2003 – Interval International, a leading global vacation exchange company, and resorts affiliated with its exchange network, today announced their continued financial support of Caribbean tourism education with a $30,000 donation to the Caribbean Tourism Organization (CTO) Education Foundation. The check, representing the single largest monetary donation by the private sector, will be presented to Jean Holder, secretary general of the CTO in New York City, during Caribbean Week June 1-6.

The Caribbean Tourism Organization is the region’s tourism development agency for 32 member governments and numerous private sector companies. The CTO 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 support the development of highly? skilled tourism personnel serving in the region. Since its inception, the CTO Foundation has provided nine major scholarships and 27 study grants to deserving Caribbean nationals amounting to just over $200,000.

“Interval International is proud to continue its commitment to the growth of Caribbean region through the CTO Foundation, an organization that has done so much to further education in the hospitality and tourism industries in the Caribbean,” said Marcos Agostini, Interval’s region director for the Caribbean and Latin America, Resort Sales and Service Department.

“We are deeply appreciative of the support we have received from multi-national corporations such as Interval International and resorts affiliated with its exchange network. The timeshare industry plays an important role in our region and their dedication to this foundation is exemplary,” said Jean Holder, secretary general of the Caribbean Tourism Organization. “With their help, we can make higher education available to Caribbean nationals, enhance the quality of the tourism product in our market and better compete in the global marketplace,” he added.

This is the fourth consecutive year Interval has made a donation to the CTO Foundation and is committed to continue contributing to the economic development of the market in the future. The company has also sponsored multiple research initiatives that demonstrate the positive economic impact of the timeshare industry in the Caribbean.

Interval International invited Caribbean resorts affiliated with its exchange network to contribute to the scholarship fund. As a result, the sum of $30,000 was raised with the participation of the following resorts: Aquarius Vacation Club at Embassy Suites Hotel® Dorado del Mar Beach & Golf Resort (Puerto Rico); Flagship Club at Sapphire Beach Resort and Marina (St. Thomas); Hyatt Hacienda del Mar (Puerto Rico); Island Seas Resort (Bahamas); Livingstone Jan Thiel Resort (Curaçao); La Cabana Villas (Aruba); Mary’s Boon Beach Plantation (St. Maarten); Ocean Reef Resort (Bahamas); Pelican Resort Club (St. Maarten); Seven Mile Beach Resort (Grand Cayman Island); The Village at St. James Club (Antigua); Westin St. John Resort (St. John); and Woodbourne Resort (Bahamas).

“ We are very grateful to our Caribbean affiliates who contributed to the CTO Education Foundation,” noted Agostini. “This scholarship fund enables us to provide the means for Caribbean nationals to further their education in the hospitality and tourism industries and in turn make contributions to the region.”

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.

For more than 27 years, Interval International has led the vacation ownership industry with innovative products and the highest levels of quality, service and value complemented by a global network of 2,000 resorts in 75 countries. With its headquarters located in Miami, Florida, Interval serves its developer clients and more than 1.5 million members through 27 offices in 18 countries and employs nearly 1,600 people worldwide. Interval International is an operating business of USA Interactive.

As The Preferred Vacation Exchange Network of the Caribbean Hotel Association (CHA) and a member of the board of directors of the Caribbean Tourism Organization (CTO) Education Fund, Interval has been a long?time supporter of the tourism industry in the Caribbean. Interval is committed to understanding the unique needs of the Caribbean region and providing products and programs tailored to this market.

For more information on Interval International, contact: Marcos Agostini, region director for the Caribbean and Latin America, Resort Sales and Service Department, telephone 305-666-1861 ext. 7087; fax: 305-668-3466; e-mail:Marcos.Agostini@intervalintl.com.

CONTACT INFORMATION:
Béatrice de Peyrecave
(305) 666-1861, ext. 7032
Beatrice.dePeyrecave@intervalintl.com



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