ORLANDO, Fla., Grand Vacation Company, the European subsidiary of US-based Sunterra Corporation, has recently acquired, for an undisclosed sum, the timeshare business of the Royal Regency hotel resort in Vincennes, one of the most desirable residential areas of Paris.

Situated a short metro or taxi ride from the romantic heart of Paris, the Royal Regency accommodation facilities include 48 tastefully decorated and spacious city apartments – from studios to 3 bedroom which comfortably sleep up to 8 guests – a residential lounge (with pool table), and even a relaxing sauna.

Bringing the number of European resorts now available to Grand Vacation Club and Club Sunterra members up to 33, Grand Vacation Company chief executive officer, Paula Woodgate commented: "Following our recent purchase of resorts in Majorca and the Canary Isles, we wanted to send a clear message to our members that we are continuing to grow and to look for opportunities that develop the geographical spread of locations available to them. But the purchase of Royal Regency also shows our commitment to providing our members with even more flexibility: Paris being the ideal location for a 3 or 4 night break."

"We are now the only timeshare organization in the world capable of offering its members a genuine Parisian break."

A short walk through Le Bois de Vincennes (the largest park in Paris) from the Royal Regency and you come upon Le Chateau de Vincennes, home to many past kings and queens of France. Of course, this is before taking in the many galleries, museums and cultural sights and buildings of one of Europe's most popular capital cities. Not to mention the restaurants and gastronomic delights of this vibrant, cosmopolitan city.

Woodgate continues: "On the right side of Paris, the Royal Regency is also conveniently located for trips to Euro-Disney; another important plus for our family members."

GVC takes particular pride in offering only the very highest standards with regards to accommodation and resort facilities and, as with Carlton Court in London, this City-based resort will be no exception.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS. Certain statements in this release constitute forward-looking statements subject to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include those regarding GVC and Sunterra Corporation's investment program at the resorts. Actual results or developments may differ from those provided for in any of the forward-looking statements.