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PRESS RELEASE RCI AND SAN FRANCISCO EXCHANGE COMPANY JOIN FORCES TO OFFER NEW SFX POINTS-BASED EXCHANGE PRODUCT Parsippany, NJ – October 15, 2002 – RCI, the world’s foremost provider of innovative products and services to the vacation ownership industry, announced today a new alliance with The San Francisco Exchange Company (SFX) to launch a new points-based exchange product for SFX members. A specialized exchange company that operates on a direct-to-consumer model, SFX targets high-end preferred quality resort owners in high demand locations and seasons. Through this agreement, SFX will launch its new "SFX Platinum Preferred Powered by RCI Points" membership program, utilizing the technology platform and back-office infrastructure of RCI Points. “SFX is an emerging brand
within the vacation ownership industry, and RCI is a proven leader in
developing, growing and supporting strong brands, both our own as well as
those of our affiliates, strategic partners and business clients,” said
Ken May, president and CEO, RCI. “We’re delighted to support the offering
of RCI Points exchange to SFX’s members as an enhancement to their
brand.” “SFX is extremely
excited about our alliance with RCI and the excellent exchange
opportunities it will offer our members,” said Mel Grant, president and
CEO, SFX. “We have always been a believer in a points-based system and
are pleased to now be able to expand our offerings to a global range of
resorts and travel products with the help of RCI.” Current President & CEO Mel Grant founded SFX in 1992. SFX is a specialized provider of preferred quality resort exchange services, currently providing services in the USA, Canada, Mexico, Caribbean and Europe. As an independent vacation exchange service provider, SFX will be expanding their services portfolio by adding SFX Platinum Preferred Powered by RCI Points membership to their existing platform of conventional weekly exchanges. This membership will contain several high quality benefits, one of which will include qualified members the ability to enjoy the great flexibility and value of a point’s program powered by RCI Points. In addition to key resort affiliations, SFX has primarily marketed directly to the consumer, allowing them the ability to enhance their exchange needs by exercising their prerogative of choice of service provider. About RCI RCI is a global provider of leisure travel services to businesses and consumers, with market leadership positions in vacation property exchange, rental and resort management. As a growth partner to its business clients, RCI leverages core competencies in networks, technology, brand and product development and world-class customer service to deliver superior vacation experiences for travelers anywhere in the world. RCI operates the world’s largest vacation exchange network, RCI Weeks, with 3 million members around the world, as well as the world’s only global points-based exchange network, RCI Points. The RCI Holiday Network offers consumers the world’s largest and most diverse selection of holiday rental properties, and operates rental programs on behalf of resorts around the world. RCI offers property owners at private residence clubs access to a portfolio of fine leisure assets through The Abercrombie & Kent Registry, bringing flexibility and added value to the luxury segment of the vacation ownership industry. RCI Resort Management is the vacation ownership industry’s largest property management company, providing branded holiday experiences to consumers on behalf of nearly 280 resorts and associations worldwide. RCI is a subsidiary of Cendant Corporation (NYSE: CD), a global provider of services primarily in travel and real estate.
# # # 12/31/04 This program is no longer in effect.
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