The Benefits of Membership

I hope that you enjoyed the summer months and took some time to spend them with friends and family! With the

end of summer, I am reminded why your role as resort developers, and especially as affiliates of The Registry Collection®

program, is so very important to our members. Vacations are such a special and

essential part of our lives, and together that is what we offer more than 30,000

Collection members every year!

In this edition of The Registry Review, you will learn about the continuing

enhancements we are delivering to you and your owners. Our new Last Call

Getaways option is a great benefit to Collection members. This new program

allows members to exchange into resorts within 29 days of travel at an attractive

fee or reduced credits — a service only available through The Registry Collection

program. Members will also now have limited access to inventory at the Hyatt

Regency San Francisco for a limited time — an exchange option that Collection

members have been requesting for some time. Additionally, we have renewed

the sponsorship with our Collection Partner, Cirque du Soleil®, which now offers

members of The Registry Collection program access to their newest U.S. traveling

show, OVO™, a menagerie of acrobatic adventure through the fantastic vision of

the insect world. Finally, The Registry Collection team continues to travel around

the world to network at numerous fractional industry events and conferences,

promoting the value of The Registry Collection brand and expanding our luxury travel options. In short, we are working

very hard to increase the merits of The Registry Collection program for you and our members.

Enjoy the fall and as you vacation with your own family and friends, keep in mind this: Together, through the vacations

we are able to offer, we are providing so many with some of the most meaningful and memorable experiences of their

lives. Thanks for being a part of it.

The Registry Review

Third Quarter, 2009

Management Message

New Affiliations

Featured Affiliates

Industry Events

Featured Partner

Employee Testimonial

Q&As

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Global Managing Director,The Registry Collection program

Collecting affiliate news from around the world

TABLE of CONTENTS

Gregg Anderson, global managing director, The Registry Collection program, with Front Four (Stowe, VT) Executive Concierge Ken Forbes.

The Registry Collection program is constantly striving to build upon our elite network of distinguished luxury leisure assets. We are pleased to announce the following new affiliations for the 2nd Quarter of 2009.

South Africa•Elements Private Golf Reserve, Limpopo Province*

Latin America•La Herencia Residence Club at Tres Rios, Cancun**

North America•Jimmy Johnson’s Fishermans Cove, Key Largo, FL**

* Construction in progress; scheduled to have exchangeable inventory in 2009

** Resort is completed; scheduled to have exchangeable inventory in 2009

New Affiliations

Featured Affiliate: Montecristo Estates, Pueblo Bonito, Mexico

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The gorgeous Montecristo Estates of Los Cabos, Mexico provide a warm and inviting retreat for members of

The Registry Collection program. Nestled into the mountainside, Montecristo offers stunning ocean views.

Collection members can enjoy a vast array of on-site amenities, including a Club House, Bar Lounge, Sushi restaurant,

complete Concierge service and the luxurious Spa & Fitness Center. Each villa is equipped with 3 bedrooms and

3-1/2 baths, allowing up to 10 people to vacation comfortably. A home entertainment center, fully outfitted kitchen

and two Jacuzzis will allow members and their guests to relax in style.

If your owners want to

explore the surrounding

areas, a shuttle service is

offered to Pueblo Bonito

Sunset Beach, and from

Sunset Beach to nearby Rose

Resort. Guests of Montecristo

Estates are welcome to enjoy

any of the amenities at Sunset

Beach, Pueblo Bonito Pacifica

or the Holistic Retreat & Spa,

all located within minutes of

the resort.

Offering plenty of superb

dining options,

amazing ocean views and luxurious amenities, Los Cabos, Mexico offers vacationers true bliss. Members of

The Registry Collection program will surely find that their every whim can be accommodated at Montecristo Estates.

Industry Events

October 6-7, 2009: Luxury Markets Symposium

Mexico City, Mexico

The Registry Collection program is the main host/sponsor of this prestigious

event. Ana Laura Acevedo, vice president of Special Programs, The Registry

Collection program, will speak on the panel, “Solutions for the Luxury Segment”.

October 12-13, 2009: Alternative Ownership Conference Hotels and Resorts – Asia Pacific (AOCAP)

Phuket, Thailand

The Registry Collection program will be a proud Sponsor and exhibitor at Asia’s

first shared ownership conference. Gregg Anderson, global managing director,

will also be speaking on the global state of the Fractional industry.

Stunning views will greet your owners as they explore their gorgeous surroundings at Montecristo Estates.

The luxurious interior of the Montecristo Estates will allow Collection members to experience an incredibly exotic retreat.

“Montecristo Estates of Los Cabos will allow

members and their guests to relax in style.”

Featured Affiliate: One Village Place, Truckee, CA

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Located in the Sierra Mountains

you will find the charming One

Village Place resort. Anchor of the

Northstar Village, a collection of

shops, dining and entertainment,

and defined by its luxurious

design, service and amenities, the

resort is an upscale home away

from home for members of The

Registry Collection program.

Its modern design combined with

the natural, beautiful surroundings

allows members to experience the

distinguished Lake Tahoe lifestyle.

The resort features a stunning

private lounge and wine bar at the

base of the mountain, while each

villa boasts granite countertops,

a private balcony and the most

modern appliances.

Collection members and their guests can also enjoy the many luxurious on-site amenities, including the rejuvenating

Spa and Fitness Center, a Concierge to oversee your owners’ every need, as well as the services of a private chef.

Also on-site is The Tahoe Mountain Club, an upscale country club that offers world-class recreation to members of

The Registry Collection program. Members can enjoy swimming, tennis and access to three private world-class

golf courses.

Renowned as one of the finest four-season destinations in the country, Lake Tahoe and One Village Place are sure

to offer Collection members a true paradise for their next vacation.

The charming One Village Place resort will provide Collection members with a beautiful home away from home.

Each villa exudes a lush neutral palette of colors, allowing Collection members to relax and unwind.

“Defined by its luxurious design,

service and amenities, the resort is

an upscale home away home.”

Featured Partner: Cirque du Soleil®

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The Registry Collection program is proud to feature the newest traveling show from Cirque du Soleil®, OVO™.

Collection members will be thrilled by this latest U.S. performance, which offers a luminous and fantastic vision of

the insect world. OVO is a headlong rush into a colorful ecosystem teeming with life, where insects work, eat, crawl,

flutter, play, fight and look for love in a non-stop riot of energy and movement.

Also available for members’ enjoyment is KOOZA™, an exotic visual spectacle that combines electrifying acrobatic

performances with the time-honored art of clowning.

The newest traveling show from Cirque du Soleil, OVO™, will offer Collection members a luminous and fantastic vision of the insect world.

Members of The Registry Collection program can enjoy either OVO™

or KOOZA™ in two ways. The Premiere Night Experience offers

Collection members the life of a celebrity on opening night, including

Special Premiere Night activities. Or, members may choose the

Behind-the-Scenes Experience, which offers a look at the private world

of the artists, including a backstage tour of the concession tents, the

artistic tent, the Grand Chapiteau and a memorable lunch or dinner

in the artists’ kitchen. Both experiences offer Collection members

the “experience of a lifetime” with fine food, drinks and multimedia

entertainment in the VIP tent, as well as the best seats in the venue!

Photos above and right: Benoît Fontaine Costumes : Liz Vandal © 2009 Cirque du Soleil. The trademarks

Cirque du Soleil, OVO and KOOZA are owned by Cirque du Soleil and are used under license.

“Collection members

will be thrilled by this

newest performance.”

Collection members will be enthralled by the dazzling displays of acrobatics performed in OVO™.

Marclay Davis, ConciergeMountain Estate at Smuggler’s Notch

“The fascinating backstage tour, the Tapis Rouge with

all the clever food offering, the time taken by our tour

guide to show and teach us about the operation and

answer our questions, the wonderful seats, and the

fabulous performance combined to make this a once-

in-a-lifetime experience. I never thought I could love

insects so much.”

Employee Testimonial: Lisa Kirkhoff and Dana Wise

Ultimate Luxury. Unlimited Opportunity.SM

Design and Layout by Group RCI Visual Communications © 2009 The Registry Collection. All rights reserved. Printed in the U.S.A

With over 30 years of combined experience with RCI, The Registry Collection program is fortunate to have such seasoned veterans as Lisa Kirkhoff and Dana Wise on the team. Both in the position of Program Manager, Lisa and Dana have been with The Registry Collection program for five and eight years, respectively. In her daily responsibilities, Lisa handles the North American Serviced accounts, as well as the Collection Partner and vendor relationships in the U.S., while Dana is a systems expert and liaises with the global regions on operational issues.

“We have a lot of ownership in the program,” says Lisa. “We care about The Registry Collection program and we can provide servicing and product offerings to quickly meet our affiliates’ needs. Overall, I’m very proud that we’ve been able to grow the program significantly over the past few years.”

To Dana, her fondness for the brand comes from being with The Registry Collection program since its inception. “I watched it go through its growing pains and was able to share in the excitement and the successes of the program.” Dana adds, “The Registry Collection is the best in its class, providing white-glove service and extraordinary experiences around the globe.”

Both women are excited about what the future holds for The Registry Collection program. Says Lisa: “We’re looking forward to working with our affiliates to offer the best service to their owners, as well as further enhancements to support their sales. We have one of the hardest working teams in the industry. We are passionate about what we do and are extremely privileged to have a team that will consistently roll up their sleeves to get the job done.”

Contact us:• For questions and comments about The Registry Review,

please e-mail us at feedback@theregistrycollection.com.

• For specific questions about your affiliation, please contact

your Account Executive.

• For operational questions, please call your Account Specialist

at 800-529-5581. www.theregistrycollection.com

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The Registry Review Q&As

Q: Would you please explain The Registry Collection’s “Last Call Getaways” program?

A: In an effort to provide more opportunities for affiliates and members, The Registry Collection program recently introduced Last Call Getaways. Available only to members, and designed to better utilize inventory with travel dates of 29 days or less, this new close date program offers last-minute accommodations for either a reduction in credit value or an attractive fee. Following are details for handy reference:

• The“reducedcreditoption”allowsmemberstoexchangeat29daysorlesspriortothearrivaldatefor50% of the normal published credit values.• The“cashoption”allowsmemberswhohaveused(orwishtosave)theircreditstobookareservationat29daysorlessfor US$1495.00(CD$1850.00)–whichincludesthestandardreservationfeeofUS$250.00(CD$310.00).• ReservationsmadeviaThe Registry Collection’s Wait list process are not eligible for either of these two programs.

Sincenearly85%ofThe Registry Collection program’s close date inventory currently goes unused, Last Call Getaways will provide your owners with additional opportunities to book a vacation, and affiliates will appreciate the increased occupancy at their properties. As an added bonus, revenue generated through the cash option will be used by The Registry Collection program exclusively to acquire additional inventory for our members in locations where we currently have little or no availability!

If you have questions, please contact your Account Executive or Account Specialist.

“We’ve been able to grow the program significantly over the past few years.”