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CONSTRUCTION UNDERWAY AT WYNDHAM VACATION OWNERSHIP’S NEWEST COLORADO RESORT

-WorldMark Grand Elk Expected to Welcome Guests in 2009

ORLANDO, Fla. (August 28, 2008) -Wyndham Vacation Ownership has commenced construction on the company's fifth Colorado resort, WorldMark Grand Elk. The resort, scheduled to operate within the company's WorldMark by Wyndham resort portfolio, is located at the beautiful Grand Elk Ranch and Club community in Granby, Colo. just north of the popular ski destination of Winter Park. The 44-unit property will feature a mix of studio, one- and two-bedroom condominium-style units and is anticipated to welcome guests in summer 2009.

"In a study of our WorldMark owners, nearly 60 percent expressed a desire to visit mountain destinations while 50 percent wanted a lake vacation destination. With WorldMark Grand Elk, our owners can have both at the same location," said Rob Hale, senior vice president, Product Development, Wyndham Vacation Ownership. "WorldMark Grand Elk reflects our company's commitment to providing more resorts in compelling destinations to meet our WorldMark owner families' diverse vacation preferences."

With the resort's Rocky Mountain location and close proximity to multiple lakes including Lake Granby, owners and their guests can thoroughly enjoy the outdoors through activities such as golf, skiing, fly fishing, hiking and whitewater rafting.

After hitting the slopes in nearby Winter Park or enjoying a round of golf at the neighboring Grand Elk Golf Course, part of the 440-acre Grand Elk Ranch and Club master-planned community, visitors can take in the scenic views and natural wildlife of the region's many national wilderness areas and parks as well as the Continental Divide.

The 44-unit WorldMark Grand Elk will feature a number of studio, one- and two-bedroom condominium-style units. Each unit provides owners with a full kitchen; living room; dining room; flat-panel televisions in the living room and master bedroom; entertainment systems, including a stereo and DVD/VCR; and a barbecue grill on the deck. Additionally, the resort's beautifully decorated, upscale three-bedroom Presidential units will include stainless steel kitchen appliances, granite countertops, whirlpool tubs, upgraded fixtures, fireplaces and hardwood flooring in the common areas.

Beyond the many comforts found in the resort's units, owners and guests at WorldMark Grand Elk will be able to enjoy such amenities as an outdoor pool, children's pool, spa/hot tub, barbecue areas, business center, exercise room and children's play area.

WorldMark Grand Elk will be a wonderful addition to the company's current Colorado resorts: WorldMark Steamboat Sprigs and WorldMark Estes Park, which are affiliated with the company's nWorldMark by Wyndham resort portfolio, and Wyndham Pagosa and Wyndham Durango, which operate within the company's FairShare Plus by Wyndham product portfolio. Wyndham Vacation Resorts Steamboat Springs will be the newest addition to the company's Colorado resort portfolio with its anticipated August 2008 opening.

About Wyndham Vacation Ownership
Wyndham Vacation Ownership, a member of Wyndham Worldwide's (NYSE: WYN) family of companies, is the world's largest vacation ownership business, as measured by the number of vacation ownership resorts, individual vacation ownership units and owners of vacation ownership interests. Wyndham Vacation Ownership develops, markets and sells vacation ownership interests and provides consumer financing to owners through its three primary consumer brands, Wyndham Vacation Resorts, WorldMark by Wyndham and Wyndham Vacation Resorts Asia Pacific. As of December 31, 2007, Wyndham Vacation Ownership had developed or acquired approximately 145 vacation ownership resorts throughout the United States, Canada, Mexico, the Caribbean and the South Pacific that represent more than 17,500 individual vacation ownership units and more than 800,000 owners of vacation ownership interests. Wyndham Vacation Ownership is headquartered in Orlando, Florida, and is supported by more than 17,700 employees globally.

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