Timeshare Giant Silverleaf Resorts, Inc. Announces Plans to Build Its First Water Park

Silverleaf Resorts, Inc. (AMEX:SVL) today announced plans to build its first indoor water park at The Villages Resort, one of Silverleaf's getaway timeshare resorts serving the Dallas/Fort Worth market.

Sharon K. Brayfield, president of Silverleaf, commented, "Our members enjoy many fun, family-oriented amenities throughout our timeshare resorts. The enthusiasm for water parks continues to grow each year and this new amenity will be a safe and convenient way for families to spend quality time together while increasing the year-round appeal of The Villages."

The "WaterPark at The Villages" is expected to open in the fourth quarter of 2007. When completed it will be home for multiple themed attractions, including inner tube and body slides, a wave pool, an interactive play system topped by a giant tipping bucket of water, and a lazy river float ride. In addition, the on-site facilities will include food service, a retail area, an arcade and lockers. Silverleaf's planned capital expenditure for this project will be approximately $6.3 million. Management anticipates a boost in low season timeshare occupancy as well as improved sales efficiencies from the addition of this popular attraction.

Based in Dallas, Texas, Silverleaf Resorts, Inc. currently owns and operates 13 timeshare resorts in various stages of development. Silverleaf resorts offer a wide array of country club-like amenities, such as golf, clubhouses, swimming, horseback riding, boating, and many organized activities for children and adults at the timeshare resorts.