Owners Offered Great Potential Opportunities for Vacation Rentals

PARSIPPANY, N.J. December 31, 2007 -Group RCI has announced an agreement with Dubai based PKN Group to manage the vacation rental and exchange program for the new Princess Resort. Set amidst the Emirate's hilly peaks, the development is the first mixed-use resort of its kind in the UAE to be affiliated with Group RCI.

The Princess Resort is a unique concept designed to embrace the glitz and glamour of a Las Vegas style experience, with entertainment, palaces, lagoons, equestrian trails and even snow capped towers. Developed with the guidance of HH Sheikh Humaid Bin Rashid Al Nuaimi, Ruler of Ajman, the resort comprises nearly 1,600 one to three bedroom apartments along with 100 exclusive villas and chalets, 2 luxury five star hotels with 488 rooms. The development is set for completion by 2010 with an estimated cost of US$1.25Bn.

One of the main features of the agreement between Group RCI and PKN is the potential for prospective purchasers to generate rental income from short term holiday rentals by marketing their property to a wide audience. Owners will also have access to 4,000 resorts worldwide that are affiliated with the RCI vacation exchange network.

In addition to the regular rental and exchange opportunity, some of the high-end residential units will be included on in The Registry Collection®, the world's largest luxury exchange program. This provides the added benefit of exchanging exclusive holiday accommodation with over 120 luxurious destinations around the world, 24 hour concierge services and access to airport lounges.

The agreement means that Group RCI will manage over 500 residential units within the PKN holiday exchange program. These will be added to the company's global distribution network which includes exclusive access for specified periods to over 60,000 vacation properties in more than 100 countries.

Commenting on behalf of RCI Middle East, Nick Turner, Managing Director, said, "the PKN Princess Resort is an excellent example of how Group RCI can add value to a developer's project. We possess a wealth of relevant experience, have a great regional network of customer service centers and offer owners at the PKN Princess Resort the opportunity of distribution throughout the world. We are delighted to be working with PKN on this project and believe we can provide excellent benefits for all purchasers."

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About Group RCI
Group RCI , part of the Wyndham Worldwide family of companies, (NYSE: WYN) is the global leader in non-hotel leisure accommodations with exclusive access for specified periods to more than 60,000 vacation properties in more than 100 countries. Organizationally, Group RCI is comprised of vacation exchange, including RCI®, the worldwide leader in vacation exchange and provider of travel services to businesses and consumers and The Registry CollectionÒ, the world's largest luxury exchange program; vacation rentals, including Endless Vacation Rentals(SM), Landal Greenparks®, Novasol®, and more than 30 other vacation rental brands, through which vacationers can rent a wide variety of property types, from city apartments to country cottages to unique villas; and NorthCourse® Leisure Real Estate Solutions, an international leader in providing a full spectrum of advisory, research, asset management and sales and marketing services to developers and investors worldwide.   Collectively, the company delivers vacation experiences to leisure travelers around the world and provides products and services to business customers that support the growth of the leisure real estate industry. Wyndham Worldwide Corporation is one of the world's largest hospitality companies with leading brands in lodging franchising, vacation ownership, vacation rentals and vacation exchange. For additional information visit www.grouprci.com or the media center of www.wyndhamworldwide.com.

About PKN
The Princess Resort forms part  of the PKN Group, a diversified holding [company?] with substantial assets in the Shipping, Oil , Construction  and Communication sectors. The Princess Resort brand is directed by its founder chairman, Mr. Max Paxima, who in partnership with the Government of Ajman, is developing the first of its kind Las Vegas Entertainment Center in the United Arab Emirates. The Princess Resort has established its own Princess Club, to allow purchasers to use the lifestyle benefits of their real estate asset, in over 120 remarkable destinations. Princess Resort has a project development plan for expansion and acquisition in some of the worlds most sought after destinations in Europe, the Caribbean and Asia. Princess Club Fractional and Princess Resort Vacation Club offerings are also managed by PKN Group.

© Press Release 2007