# Important Message from Sunterra Corporation Board of Directors



## Spence (Mar 12, 2007)

Dear Club Sunterra Members and Owners,

On March 12, 2007, Sunterra announced that its Board of Directors has approved an agreement pursuant which Sunterra will be acquired by an affiliate of Diamond Resorts, LLC. We expect the acquisition, which is subject to certain conditions, including the acceptance of 90% of Sunterra's shareholders, to be completed in the second quarter of this year. I personally want to tell you how excited we are about this development and take a moment to explain how this will allow us to better serve you.

Most importantly, nothing changes for our Club Members and Owners. The same friendly people you know and trust will continue to provide you with the same high level of customer service at our resorts and over the telephone. Your SunOptions, Club Sunterra membership, use rights and payment procedures remain the same. Existing reservations will not be affected and the procedures for making future reservations remain the same. You can expect a future filled with a range of product upgrades and improvements in customer service, which will make your ownership more valuable.

What you can anticipate under the direction of Stephen J. Cloobeck, Chairman and CEO of Diamond Resorts, is a continued focus and commitment to customer service and exceeding customer expectations. Adding to Sunterra's already strong platform, Stephen brings over 25 years of extensive knowledge and experience in virtually every phase of the successful development, management, marketing and sales of vacation ownership properties. Diamond Resorts' successful track record includes spearheading the design of Marriott's Grand Chateau vacation ownership resort as well as the development of Polo Towers, the Jockey Club and The Carriage House, all located in Las Vegas, as well as Kona Reef in Hawaii.

We want to assure you that our announcement will secure and enhance all of the benefits that you have come to expect as Sunterra Members and Owners. We invite you to visit www.Sunterra.com and www.diamondresorts.com for further updates and additional information.

Best Regards,

James A. Weissenborn
Interim President and CEO
Sunterra Corporation


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## Spence (Mar 13, 2007)

*Dear Sunterra Reservations Holder*

March 12, 2007

Dear Sunterra Reservations Holder,

On March 12, 2007, Sunterra announced that its Board of Directors has approved an agreement pursuant to which Sunterra will be acquired by an affiliate of Diamond Resorts, LLC. We expect the acquisition, which is subject to certain conditions, including the acceptance of 90% of Sunterra's shareholders, to be completed in the second quarter of this year.

There is no need to call. Members and guests do not need to take any steps as a result of this announcement to confirm their existing reservations. There will be no changes to procedures for making future reservations. The same friendly people you know and trust will continue to provide you the same high level of customer service at our resorts and over the telephone.

We look forward to seeing you soon. If you would like additional information, please visit www.Sunterra.com and www.diamondresorts.com.

Best Regards,

Sunterra Corporation


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## Fern Modena (Mar 13, 2007)

*Article in Las Vegas Newspaper*

There is an article in today's Las Vegas Review-Journal about Steven Cloobeck, Diamond Resorts, and the purchase of Sunterra.  Its a good read for those who are not familiar with Cloobeck.

Fern


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## ouaifer (Mar 13, 2007)

As this duplicates another thread already started on this forum, I am closing this one. Those wishing to respond may do so at this link.


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