Paul Hastings Represents Private Escapes in its Definitive Merger with Ultimate Resort

September 14, 2007

Paul Hastings Represents Private Escapes in its Definitive Merger with Ultimate Resort

Landmark Deal to Create the Fastest Growing and Top Destination Travel Club

Chicago, IL (September 14, 2007) – Paul, Hastings, Janofsky & Walker LLP, a leading international law firm, announced today that the firm represented Private Escapes Destination Clubs, the industries third largest destination travel club, in its definitive agreement to merge with the industries second largest destination club, Ultimate Resort, LLC. The transaction, which is expected to close in November 2007, will result in a combined real estate portfolio with a fair market value of $200 million.

Chicago partner Rick Chesley led the Paul Hastings team, which included partner Greg Spitzer and of Counsel Stacey Kern.

The combined company will be the fastest growing and top destination club by number of locations, with 1,200 combined members accessing 140 properties located in the United States, Mexico, the Caribbean and Europe. The combined company’s corporate and operational offices will be located in Orlando, Florida; Fort Collins, Colorado; and Kansas City, Missouri.

About Private Escapes Destination Club: Created in 2003, Private Escapes boasts over 300 members and 60 residences throughout North America, the Caribbean and Europe.

About Ultimate Resort, LLC: Ultimate Resort is the industry’s second largest private destination club, with over 750 members and a portfolio of club residences located in 25 resort destinations in the United States, the Caribbean and Europe.

Paul, Hastings, Janofsky & Walker LLP, founded in 1951, is a leading international law firm with over 1,200 attorneys in 18 offices. The firm serves a diverse client base including many of the leading global financial institutions and Fortune 500 companies and offers deep capabilities in capital markets, finance and restructuring, intellectual property, international arbitration and dispute resolution, investment management, labor and employment, mergers and acquisitions, private equity, product liability, project finance, real estate, securities litigation and tax advisory services. For additional information, please visit our website at www.paulhastings.com.