FOR IMMEDIATE RELEASE:

Contact:   Leslie Gale

Phone: 407-905-1950

E-mail: lgale@orangelake.com

Orange Lake Opens Brand New Golf Experience

ORLANDO, FLORIDA—December 19, 2005—Orange Lake Resort & Country Club today announced the grand opening of The Reserve at Orange Lake , the resort's newest 18-hole, par 71 golf experience. The Reserve is the product of a $6.8 million renovation and redesign of Orange Lake's original Resort Course. Architect Mike Dasher has taken the course's Orange and Cypress nines—originally designed by Joe Lee in 1982—and turned them into a totally new golf experience, giving Orange Lake a total of 54 holes of golf.

Many improvements were made to the course, including newly constructed greens. Several of the greens were relocated and reshaped, bringing various hazards into play to challenge golfers. The greens were also constructed to USGA standards and planted with MiniVerde, a hybrid Bermuda grass.

Improvements to the layout and course conditions—including new water features and bunkering—will make the course even more challenging than before. Enhancements include improved design and routing of 7 of the 18 holes, as well as a new irrigation system, improved drainage and new cart paths throughout.

Scheduled to open in 2006 is a new practice facility, including a lighted driving range with an expansive hitting area, a putting green that's lighted for nighttime practice, and two chipping greens—one that features a bunker for golfers who'd like to work on their sand play. The Reserve practice facility will also be home to The McCord Academy at Orange Lake. The McCord Academy is recognized by Golf Magazine as one of the Top 25 Golf Schools in America.   Golf Magazine has also recognized Rick McCord, Orange Lake's Director of Instruction, as one of the Top 100 Instructors in America.

The resort's 54 holes of pristine golf include two courses designed by Arnold Palmer— The Legends at Orange Lake®, an 18-hole, par 72 championship course, and Legends Walk , a 9-hole, par 27 walking course lighted for nighttime play; and  Crane's Bend, a par 30 executive course that's 1,901 yards in length.

“Golf is one of Orange Lake's signature resort amenities, and the introduction of The Reserve course to our portfolio of golf offerings provides yet another unique golf experience for our owners, guests, and locals alike”, says Don Harrill, President and CEO of Orange Lake.

Orange Lake is already the largest single-site timeshare resort in the world, with more than 2,000 villas, suites and studios on 1,250 acres and more than 100,000 owners from all 50 U.S. states and 120 countries. Besides four pristine golf courses, the resort offers an array of amenities including eight swimming pools, an 80-acre lake with water sports and white sand beach, tennis, basketball and racquetball courts, seven restaurants, a fitness center, an Internet café, and daily planned activities and nightly entertainment for all ages.

All of Orange Lake's golf courses, practice ranges and golf instruction are open to Orange Lake owners and guests and the general public. For tee times and information, call The Legends Pro Shop at 407.239.1050 or visit www.golforangelake.com. For more information on The Reserve or the other courses available at Orange Lake, as well as tournament opportunities, contact Mike Pryor, Senior Director of Golf Operations, at 407.905.1337.

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