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Wyndham Worldwide Spins Off From Cendant, Begins Trading as WYN
76-unit resort becomes WorldMark's 12th in California

REDMOND, Wash. - December 20, 2005 - the West Coast’s leading vacation ownership company, today announced the opening of its newest resort, WorldMark Solvang, located in the Santa Ynez Valley approximately 40 miles north of Santa Barbara, Calif. The 76-unit resort in the heart of downtown Solvang becomes WorldMark’s 12th property in California.
WorldMark Solvang currently has 38 of its units open and accepting guests, with the remaining 38 units expected to be ready by January 2nd, 2006. The resort, which is walking distance to many of the town’s shops, restaurants and attractions, has been designed and decorated to reflect the town’s European flavor. It features a combination of studio, one-, two- and three-bedroom condominium-style units, as well as a select number of two- and three-bedroom presidential suites. Resort amenities include a swimming pool, children’s wading pool, recreation facility and garden.
"We’re pleased to be expanding our presence in California and in Solvang, we’re adding a truly unique resort destination that’s rich in both culture and character," said Franz Hanning, president and CEO, WorldMark by Wyndham and Cendant Timeshare Resort Group. "Solvang is centrally-located for many of our West Coast owners and we know this resort will greatly enhance their vacation ownership experience with all that the Solvang area has to offer."
Known as the Danish capital of the United States, Solvang is renowned for its Danish architecture and influence, local wineries, shops and exceptional golf courses. A small town with a population of approximately 5,000 people, Solvang is also known for its downtown shopping village, which features European imports and collectibles from more than 200 merchants.
About WorldMark by Wyndham, Inc.: WorldMark by Wyndham, Inc. is a leader in the vacation ownership industry, offering a network of drive-to resorts. A subsidiary of Wyndham Vacation Ownership, the Trendwest brand operates two points-based vacation ownership programs, WorldMark, the Club, formed in 1989, and WorldMark South Pacific Club, formed in 2000. WorldMark by Wyndham are located primarily in the Western United States, Canada, Mexico and the South Pacific and consist of 69 resorts that represent approximately 4,900 units. Today, there are over 270,000 owners of vacation credits in WorldMark by Wyndham.
About Wyndham Vacation Ownership: Wyndham Vacation Ownership is the world's largest developer and marketer of flexible, points-based vacation ownership products. Its two primary consumer brands-Fairfield Resorts and WorldMark by Wyndham-together comprise more than 140 resort properties throughout North America, the Caribbean and the South Pacific, and serve more than 750,000 owner families worldwide.
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