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Bluegreen to Manage Resort, Sales Operations at Cibola Vista Resort
Cibola Vista Resort and Spa Now Available to Bluegreen Vacation Club(R) Members
BOCA RATON, Fla., Sep 08, 2009 (BUSINESS WIRE) -- Bluegreen Corporation (NYSE: BXG), a leading provider of Colorful Places to Live and Play(R), today announced that it has entered into agreements to manage the operations, sales and marketing, and loan servicing activities for Cibola Vista Resort and Spa, beginning in October 2009. As part of the relationship between Cibola and Bluegreen, the Cibola Vista Resort and Spa, located in the Phoenix suburb of Peoria, Arizona, will become part of Bluegreen's portfolio of vacation destinations.

Cibola Vista Resort and Spa is a luxury vacation ownership resort located between the popular Lake Pleasant recreational area and the city of Phoenix, and is in close proximity to the Arizona Cardinals' stadium and numerous Major League Baseball spring training venues. The resort boasts amenities including a spa, fitness center, two pools, meeting rooms and equestrian programs, in a western village-themed environment. A total of 204 units, including studio, one-bedroom, two-bedroom and penthouse accommodations, are offered in Spanish Colonial-designed buildings.

"Our property was designed to appeal to travelers looking for an Old West vacation experience with the comforts and amenities of today," said Neil Cumsky, President and CEO of Princeton Resorts Group, the developer of Cibola Vista. "Combining Bluegreen service with this unique resort experience will further establish Cibola Vista as one of the premier destination resorts in the Southwest, while at the same time provide our owners with the breadth of services offered by Bluegreen."

"This turnkey relationship extends the Bluegreen Vacation Club(R) footprint into another new, high-demand vacation destination," said Bluegreen's President and CEO John M. Maloney, Jr. "Resort options in the Southwest, especially in popular golf and outdoor destinations like Phoenix, are an attractive alternative for our vacation club owners."

Mr. Maloney continued, "We remain focused on expanding our business and introducing new experiences to our owners and guests, while at the same time conserving our capital. We believe our fee-based service initiatives, such as our agreement with Cibola Vista, demonstrates our continuing success in these endeavors."

ABOUT BLUEGREEN CORPORATION

Founded in 1966 and headquartered in Boca Raton, FL, Bluegreen Corporation (NYSE:BXG) is the leader in providing Colorful Places to Live and Play(R) through its vacation ownership resort and residential real estate business segments. Our more than 3,100 employees are passionate about delivering extraordinary experiences for our owners, travelers and business partners. Since 1996, Bluegreen has managed, marketed and sold a flexible, real estate-based vacation ownership plan with more than 208,000 owners, over 45 owned or managed resorts, and access to more than 3,700 resorts worldwide. Since 1985, Bluegreen Communities has developed master-planned residential and golf communities primarily in the southern and southeastern U.S., and has sold over 55,000 homesites. We also offer a portfolio of comprehensive, turnkey, fee-for-service resort management, financial services, customer generation and sales solutions to third-party developers and lenders. For more information, visit www.bluegreencorp.com.

Statements in this release may constitute forward-looking statements and are made pursuant to the Safe Harbor Provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based largely on expectations and are subject to a number of risks and uncertainties including but not limited to the risks and uncertainties associated with economic, credit market, competitive and other factors affecting the Company and its operations, markets, products and services, as well as the risk that fee-for-service and other previously announced corporate strategic initiatives may not be successful, the risk that fee-for-service initiatives will not prove beneficial for the Company or third parties with whom the Company has agreements, and the risks and other factors detailed in the Company's SEC filings, including its most recent Annual Report on Form 10-K filed on March 16, 2009, Form 10K/A filed on April 30, 2009, and Form 10-Q filed on August 10, 2009.

SOURCE: Bluegreen Corporation

Investor:
Bluegreen Corporation
Tony Puleo, 561-912-8270
Chief Financial Officer
tony.puleo@bluegreencorp.com
or
The Equity Group Inc.
Devin Sullivan, 212-836-9608
dsullivan@equityny.com
or
Media:
Bluegreen Corporation
Kristin Warner, 561-912-7928
Brand and Communication Manager
kristin.warner@bluegreencorp.com

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