DC4MS

August 05, 2003

Abercrombie & Kent and Private Retreats LLC Announces New Strategic Partnership;
Club now offers access on all seven continents

Private Retreats

MEDIA CONTACT:
Ms. Michelle Bambino
Office: 203-255-5502 x316
E-Mail: MEB@Private-Retreats.com

Club now offers access on all seven continents Abercrombie & Kent and Private Retreats LLC Announces New Strategic Partnership; World’s first private Destination Club, Private Retreats by Abercrombie and Kent

SOUTHPORT, CT- August 5, 2003 -Abercrombie & Kent, the first Internationally recognized name in luxury adventure travel, has joined with Private Retreats LLC, Under Construction, a private residence club, to create the world’s first Destination Club.

This Members-only Club offers unlimited access to a diverse portfolio of 65 luxury Club-owned resort residences and yachts in 22 world-class resorts throughout the United States, Mexico and the Caribbean. Also available are the Club’s luxury one-bedroom apartments and suites in boutique hotels in Paris, London, Rome, New York, San Francisco, Miami and San Diego. Members also enjoy access to private jet and turbo prop aircraft through the Club owned fractional jet interests. Abercrombie & Kent safaris and tours provide members with annual vacations to some of the most luxurious adventure destinations throughout the seven continents.

Private Retreats by Abercrombie and Kent provides the experience of owning multiple vacation homes at a fraction of the cost. The business combines the structure of a private golf club with the capacity modeling of the fractional jet and real estate industries to provide virtually guaranteed availability for Club Members.

Further distinguishing the Club is its ever-changing portfolio of Abercrombie & Kent safaris and worldwide tours. Members also have unlimited use of the Club’s private yachts, private jets, luxury automobiles and personal concierge service.

Born as a safari company in Nairobi, Kenya, Abercrombie & Kent has taken travelers on extraordinary journeys across far and exotic reaches of the globe for more than 40 years.

“This destination club represents the perfect collection of residences, experiences and services in a variety of highly desirable destinations that offer a wealth of activities. Private Retreats by Abercrombie & Kent is a product of its time and I truly believe you’ll find it rewarding,” said Mr. Geoffrey Kent, Chairman and CEO of Abercrombie & Kent.

Since 1998, Private Retreats, Under Construction, has been providing its Members with unlimited access to luxury residences in more than 19 leisure destinations including Cabo San Lucas, Jackson Hole, Hilton Head, Telluride, Scottsdale, Hawaii and the private island Cayo Espanto.

The Founders of Private Retreats are the founding fathers of the high end Fractional Real Estate Ownership industry that has become so popular in almost every resort in North America. In 1991, they created a new paradigm known as the Private Residence Club (“PRC”) by developing the Franz Klammer Lodge in Telluride, the first project to successfully offer luxury high-end fractional ownership. Subsequently, they developed and co-developed similar projects in Telluride, Jackson Hole and Scottsdale.

With world headquarters in Southport, Connecticut, Private Retreats by Abercrombie & Kent currently has over 300 members with a maximum capacity of 400.

For more information on membership, contact Private Retreats by Abercrombie & Kent at 800-925-7577 or visit Under Construction.