Wellington Financial And Liberty Bank Provide Financing For Bluegreen Corporation

Wellington Financial, the exclusive resort finance lending correspondent for Liberty Bank, recently announced they had arranged a $75 million timeshare receivables hypothecation facility for Bluegreen Corporation (NYSE:BXG), a leading provider of Colorful Places to Live and Play®.  The facility is led by Liberty Bank and the transaction was announced on August 28, 2008.

“We appreciate the participation of Wellington Financial and Liberty Bank and look forward to working with them in this new lending relationship,” said John M. Maloney Jr., President and Chief Executive Officer. “We are pleased to be able to enhance our liquidity and support our timeshare operations with this new facility.”

Wellington Financial Senior Vice President Shawn Brydge said, “Wellington Financial, Liberty Bank and the lender group are very excited to do business with Bluegreen, given their lengthy track record of success in the timeshare industry and impressive senior executive team.”  Donald Peruta, Liberty Bank Vice President, added “We are very pleased to lead this facility and add a terrific organization such as Bluegreen to our customer base of great timeshare developers.”

ABOUT BLUEGREEN CORPORATION
Bluegreen Corporation (NYSE:BXG) is a leading provider of Colorful Places to Live and Play(R) through two principal operating divisions. With over 190,000 owners, Bluegreen Resorts markets a flexible, real estate-based vacation ownership plan that provides access to over 40 resorts and an exchange network of over 3,700 resorts and other vacation experiences such as cruises and hotel stays. Bluegreen Communities has sold over 56,300 planned residential and golf community homesites in 32 states since 1985. Founded in 1966, Bluegreen is headquartered in Boca Raton, Fla., and currently employs over 6,000 associates. More information about Bluegreen is available at www.bluegreencorp.com.

ABOUT LIBERTY BANK
Established in 1825, Liberty Bank (www.liberty-bank.com) is Connecticut’s oldest mutual bank, with more than $2.7 billion in assets.  Liberty Bank has been actively lending to the timeshare industry throughout the U.S. for over 30 years.  The bank’s commitment to superior service has resulted in lending relationships with some of the industry’s largest and most successful developers.  Member FDIC.  Equal Housing Lender.

ABOUT WELLINGTON FINANCIAL
Wellington Financial (www.wellington-financial.com) has originated over $3.0 billion to the timeshare industry since its inception in 1981. The company specializes in lending to timeshare resorts, while serving the fractional and land industry as well. The finance and service company offers a full range of products, including receivables hypothecation, purchase and conduit facilities; pre-sale and working capital lines of credit; acquisition, construction and renovation financing, as well as mezzanine and equity debt financing.