1. Importance Of Linking With An Exchange Company Darren Ettridge Vice President Resort Sales & Service Europe, Middle East and Africa

2. Agenda What is Fractional Ownership? Why a consumer might consider buying a Fractional Should you include an exchange programme? Comparable Exchange Exchange Programmes

3. The Next Best Thing

4. Fractional Ownership Business Models Timeshare Fractionals Private Residence Clubs

5. Reasons for Buying a Fractional

6. External Exchange Opportunity 48% Timeshare 50% Fractional 16% Private Residence Club 37% Source: ARDA International Foundation 2010 Shared Vacation Ownership – Ownership Report Initial Reason for First Timeshare Purchase

7. Our consumer research strongly indicates that shared- ownership buyers are interested in the opportunity to access other properties, but only if such properties are of comparable quality to their own. Source: The Shared-Ownership Resort Real Estate Industry North America 2010 – by Ragatz Associates

8. Supply / Demand Unit size Resort quality Comparable Exchange

9. Unit Size

10. Quality Exchanges – Resort Quality Quality Rating System - determines affiliation and initial resort rating (QRR) Customer Satisfaction Index

11. The Unit The Resort Local Area Guest Experience Quality Exchanges – QRR

12. Holiday Evaluation Form

13. Consumer Satisfaction Index.

14. Exchange Options

15. Global Presence

16. Interval At A Glance Founded 1976 in Miami, Florida 23 offices in 14 countries 1,600 employees More than 2,500 affiliated resorts in over 75 nations Approximately 2 million member households in various membership programmes Operating segment of Interval Leisure Group (Nasdaq: IILG)

17. Some of Our Industry Partners 9

18. Unique and Flexible Exchange

19. Interval Premier Collection

21.  = HOTEL X = OFFICE Extensive Global Presence Over 700 distinctive hotels & resorts Across five hotel brands – Preferred Hotels and Resorts, Preferred Boutique, Summit Hotels and Resorts, Sterling Hotels and Historic Hotels of America In more than 75 countries 28 worldwide sales offices

22. DEVELOPER BENEFITS

23. OWNER BENEFITS

25. THANK YOU