Luxury Hotel and Resort Planned in Southern California

Ground broken for Renaissance ClubSport hotel and resort in Aliso Viejo

About Parker Properties

Parker Properties is a commercial real estate firm focused on developing business campuses. Located in Aliso Viejo, California, the company was originally formed in 1976 in response to the challenges of a changing marketplace and has succeeded in meeting tenant demands and needs for flexibility within campus settings. Parker Properties is comprised of specialists in development, construction management, asset management, property management, and real estate finance who combined, have developed and acquired 5.1 million square feet of office, industrial and retail projects throughout California. Parker's current efforts include the development of the five-phase, 1.7 million-square-foot Summit Office Campus in Aliso Viejo and the enhancement and stabilization of Summit at Valencia.

About R.D. Olson

Robert Olson is the founder and owner of R.D. Olson Development. Currently the Irvine-based company also is developing a $36 million five-story 166-room Marriott Residence Inn Burbank, which will cater to the entertainment industry. Olson's most recent development was the eight-story University Village Towers, an upscale student housing project bordering the University of California, Riverside. Other completions include an eight-story Marriott Residence Inn, Irvine, and a $62 million resort in the Anaheim Resort Zone, which consists of a seven-story Staybridge Suites and nine-story Holiday Inn.

About Leisure Sports, Inc.

Leisure Sports, a privately held company since 1978, is a prominent developer and operator of high-end sports clubs and hotels. Based in California, the company has pioneered the "fitness resort" concept by building clubs that combine function with aesthetics and practicality with luxury. Creators of the Renaissance ClubSport hotel and fitness resort concept, the company currently owns and operates hotels and clubs in California, Nevada and Oregon serving over 45,000 members.

[Business Wire -- 05/12/06]