Montauk Yacht Club Resort Undertakes Update to Facilities and Service

Entering 80th Anniversary

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. October 14, 2008

MONTAUK, NY, June 30, 2008. Montauk Yacht Club Resort & Marina has commenced a multi-million dollar transformation that encompasses every aspect of the historic property. The renovation was announced by Island Global Yachting (IGY), owners of the historic resort and yachting lifestyle destination. The renovation will be implemented in several phases, and is part of the resort's 80th Anniversary Celebration, which will be honored over two summers culminating with a very special party in 2009. The project includes refurbishments to each of the 107 guestrooms and suites, public spaces, meeting and conference facilities, recreational amenities and the restaurant and lounges.

"The Montauk Yacht Club Resort & Marina is a Hamptons classic," said Andrew Farkas, founder and chairman of IGY. "We are dedicated to the Yacht Club's fabled past and its legacy in the community, and have carefully designed this renovation to not only restore this "grande dame" to her former glory, but to carry her forward for the next 80 years."

Phase One Renovation Highlights

Phase One of the renovation project was completed in time for the 2008 summer season. This phase included new guestroom appointments featuring luxurious residential-style accents; modern accessories such as iHomeTM Ipod clock radios and super-convenient KeurigTM coffeemakers; and a new bedding package with goose down pillows, duvet comforters, and 300 thread-count sheets. The Resort's restaurant -- the Lighthouse Grill - has re-opened with an all-new menu highlighted with seasonal selections and fresh local ingredients from award-winning Executive Chef Jared Potter.

As well, the new Lighthouse Patio is open, set on a magnificent blue slate terrace with luxurious Henry HallTM lounge furniture. From the Patio, guests enjoy cocktails and appetizers from the Lighthouse Bar while taking in the beautiful views of the harbor.

Additionally, extensive outdoor improvements have been made including new landscaping to restore the natural and indigenous plantings on the Resort's expansive grounds, as well as new Henry HallTM and RauschTM pool furniture. The fitness center has also been revamped with a fresh new appearance, new exercise equipment and a flat screen TV. Improvements to the public areas include the guestroom corridors, refreshed with new paint and nautical artwork, and the lobby with new furnishings and appointments, along with a dramatic refurbishment of the oak flooring to include a bright new finish.

Phase Two Renovation Highlights

Phase Two will continue improvements and enhancements to the Montauk Yacht Club Resort & Marina during the off-season and leading up to the summer 2009. This includes advanced renovations to the guestrooms with new furniture and flat-panel televisions, new carpet, and custom-designed window treatments. During this phase, the Villa Cottages will also undergo a complete transformation. Originally known as the Bragg Estate, the Villa Cottages were also owned by Florenz Ziegfield, of the Follies fame, prior to becoming part of the resort. These 23 units will be restored to their original glory with premier luxury amenities and styling along with exclusive offerings and bespoke services.

Phase Two will also see the historic Lighthouse Bar undergoing extensive refurbishments in order to refresh its overall experience, while at the same time preserving its legacy and old-world charm. Additionally, all of the Resort's meeting space will be renovated including new wall coverings, upgraded soft goods and the addition of state-of-the-art audiovisual. Throughout the Resort, designer accents and styling will enhance the "soul" of the property, harkening to the classic seafaring towns of the Northeast and New England including nautical inspired artwork and antiquity, as well as historic Hamptons photography.

In concert with the physical renovations, the Montauk Yacht Club Resort & Marina has also launched a new dedicated training program for improved customer service. This program will be pervasive throughout the Resort from the front office to housekeeping to the restaurants and the marina with intuitive hospitality unmatched on Long Island.

About Montauk Yacht Club Resort & Marina

Founded in 1928 and situated along a 22-acre waterfront, the historic Montauk Yacht Club Resort & Marina has long been a perennial favorite playground for those who frequent the shores of Long Island's South Fork East End. The Resort actually began as three separate estates. The original club building was built by entrepreneur Carl Fisher, the master builder who turned Miami from a sleepy backwater town into a thriving resort city. Fisher had dreams of replicating his success with the small seaside village of Montauk by creating a playground for the rich and famous. The club's original membership included Vincent Astor, J.P. Morgan, Jr., Nelson Doubleday, Edsel Ford, Harry Payne Whitney, Thomas Eastman, John Wanamaker and Harold S. Vanderbilt. Among the many guests was famed aviator Charles Lindbergh, who often flew his seaplane into the harbor to dock at the Marina.