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Timeshare Exchange Company to Partner in Vacation Club Operation

Miami, FL, February 13, 2003 – Interval International and Grandvista Resorts, LLC today announced that they have entered into a long-term master affiliation agreement, which comprises four existing resorts, as well as all future properties. Furthermore, Interval’s affiliated company, Interval Resort and Financial Services, has been selected to provide a full suite of services, including the operation of a point-based vacation club for Grandvistas’s properties.

The company’s current portfolio consists of Grandvista’s Vacation Suites at Tunica in Tunica, Mississippi; Grandvista’s Painted Mountain Golf Resort located in Mesa, Arizona; Grandvista’s Woods Resort (formerly known as Cedar Ridge at the Woods) and Grandvista’s Emerald Pointe both located in Branson, Missouri.

“We are very pleased that Grandvista has chosen to work with us as they continue to expand their business,” said Craig M. Nash, chairman and chief executive officer of Interval International. “We look forward to partnering with Grandvista in the development of a vacation club structure to offer additional value and flexibility to their owners.”

Purchasers at all Grandvista resorts become members of Interval’s upgraded program, Interval Gold, entitling them to enjoy an array of extra savings and services in addition to the opportunity to exchange their accommodations for those at other resorts in Interval’s worldwide network. Members also receive access to specially priced travel and leisure services, quarterly travel magazines and newsletters, printed and electronic international resort directories, and a host of other privileges.

“Interval’s emphasis on quality, innovation and providing exceptional vacation experiences aligns closely with our own corporate philosophy,” said Richard E. Huffman, chief executive officer of Grandvista Resorts. “We are confident that Interval’s expertise in designing and servicing point-based programs will enable us to pursue an aggressive growth strategy over the next several years.”

For more than 26 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 over 1,900 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 1,700 people worldwide. Interval International is a division of USA Interactive.

Grandvista Resorts is a privately owned, full-service resort development and marketing company with corporate offices in Branson, Missouri. For additional information regarding Grandvista, contact Jeanne Rudloff, 3027 West Highway 76, Suite B, Branson, MO 65616, (417) 332-3443.

Chris Boesch
(305) 666-1861, ext. 7267

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Interval International, 6262 Sunset Drive, Miami, FL 33143