Bluegreen is a leading U.S. developer and marketer of timeshare resorts, golf communities and residential land.

Maloney's initial responsibilities include senior management direction of the Company's newest resort, Big Cedar Wilderness Club, in Ridgedale, MO, and the marketing alliance between Bass Pro and Big Cedar. Additionally, Maloney will assume responsibility for corporate marketing together with call centers, as well as assist in the development of new product lines, including the introduction of a high-end fractional sales division. He will be based at Bluegreen's corporate headquarters.

Prior to joining Bluegreen, Maloney served as Senior Vice President, Sales and Marketing, for The Owners Club by ClubCorp, a fractional timeshare business based in Dallas, Texas. His career experience includes 19 years in the vacation ownership business, including marketing and sales management positions with Hilton Grand Vacations Co. and Marriott Vacation Ownership International.

Maloney views his new assignment as "an opportunity to create a more up-market product within the Bluegreen portfolio of products." He believes his experience with Hilton's and Marriott's branded products will help in designing programs intended to maximize the potential for the Company's new Bass Pro-Big Cedar marketing alliance, develop lower-cost marketing programs, refine the corporate call centers and explore business opportunities that will offer a higher yield.

"Fifteen years ago, timeshare was not a sought-after good," Maloney says. "Now it is becoming more so. Branded products have shown a high degree of embrace from consumers, and we intend to build up Bluegreen to that level."

George Donovan, Bluegreen's President and Chief Executive Officer, states, "John will help us maximize the Big Cedar product, which caters to an upscale market. We believe that the potential for Big Cedar is enormous. The Bass Pro marketing alliance, which matches the demographics of our Vacation Club, enhances this potential. John will be creating business opportunities that will appeal to everyone from the average American family to the sophisticated vacationer who is interested in a wilderness experience of the caliber of Big Cedar. We are delighted to welcome him aboard."

Bluegreen is one of the leading companies engaged in the acquisition, development, marketing and sale of timeshare resorts, golf communities and residential land. The Company's timeshare resorts are located in a variety of popular vacation destinations including Orlando, Florida; the Smoky Mountains of Tennessee; Myrtle Beach, South Carolina; Charleston, South Carolina; Branson, Missouri; Wisconsin Dells, Wisconsin; Gordonsville, Virginia; Ridgedale, Missouri; and Aruba, while its land operations are predominantly located in the Southeastern and Southwestern United States.

This press release contains forward-looking statements and the Company desires to take advantage of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 in connection with these statements. Statements made by George Donovan, Bluegreen executives and any other statements contained herein that are not statements of historical fact may be deemed forward-looking statements. The words "believe," "expect," "intend," "anticipate," "project," "may," "should," "estimate," "plan" and similar expressions identify forward-looking statements, which speak only as of the date the statement was made. The Company does not undertake and specifically disclaims any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Forward-looking statements are based on current expectations and assumptions and are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified and many of which are beyond the Company's control. Future events, industry trends and actual results could differ materially from those set forth in, contemplated by, or underlying such forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, actual results for future periods may differ from those estimated, consumer demand may be less than anticipated, regulatory changes, changes in national or regional economic conditions that can affect the real estate market, risks associated with a large investment in real estate, shortages of available inventory and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K with respect to fiscal 2001. Given these risks and uncertainties, investors are cautioned not to place undue reliance on such forward-looking statements and no assurances can be given that such statements will be achieved.

CONTACT:          Bluegreen Corporation   
                  John Chiste             
                  Chief Financial Officer                   
                  (561) 912-8010          
                  john.chiste@bxgcorp.com 
                  or
                  INVESTOR RELATIONS COUNSEL:
                  The Equity Group Inc.
                  www.theequitygroup.com
                  Devin Sullivan
                  (212) 836-9608