Mike Flaskey Joins Land Resource Companies as CEO

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. October 14, 2008

ATLANTA, GA, July 11, 2006. Mike Flaskey has been named Chief Executive Officer of Land Resource Companies (LRC), an Atlanta-based community development company. Flaskey will assume the duties of former LRC President Paul Beidel, who stepped down earlier this year, as well as new duties in accord with his role as CEO.

Flaskey will be responsible for all operational aspects of LRC. According to LRC Founder and Chairman J. Robert Ward, Flaskey's expertise in sales and marketing will play a key role in guiding the company. As LRC continues to grow, Flaskey intends to identify new areas of opportunity and make the most of them.

Before joining LRC, Flaskey held the position of Senior Vice President, Sales and Marketing East with Starwood Vacation Ownership, a company he joined in 2003. In that time, he built a world-class sales and marketing infrastructure with revenues estimated to hit over $200 million in 2006. During his tenure with Starwood Vacation Ownership, Flaskey oversaw record-setting years.

Before taking over the eastern operations at Starwood in 2003, Flaskey was with Fairfield Resorts for 11 years and held various leadership positions. Beginning as a sales executive, he worked his way to the role of Senior Vice President of Operations, which carried with it full P&L responsibility for $450 million in business.

"I am very pleased that we found someone of Mike's caliber to lead Land Resource Companies," said Ward. "In everything he's achieved, Mike has demonstrated a clear sense of vision, one that's in-line with the values we've emphasized at LRC since day one. Quite simply, we knew he'd be a great fit for this company, and we're all happy he's now on board."

Ward went on to say that Flaskey exhibits the kind of insight and vision necessary for LRC to accomplish its current and future goals. Recently, LRC received a 2006 Pacesetter Award from the Atlanta Business Chronicle, which placed the company at #11 on its list of "Atlanta's Top 50 Fastest Growing Private Companies." Ward sees Flaskey's skills as instrumental in helping LRC maintain its strong position in the marketplace.

"I know his leadership will bring out the best in all of us," said Ward.

Flaskey is ready to begin a new series of accomplishments, emphasizing his belief that the community development industry is on the verge of expanding rapidly and pointing out that LRC will continue to be one of the prime movers in the industry.

"I'm well aware of the success that Land Resource Companies has had over the past several years, and I'm grateful to Bob Ward for the opportunity to lead this company. I'm excited to be working with a team that has helped LRC achieve such growth and success. I look forward to applying my vision and experience to ensure the company's continued success," he said.

Originally from Manteo, N.C., Flaskey has lived in Orlando, Fla., since 1994. He and his wife, Karen, have been married for 16 years, and they have two children, Amber, 10, and Michael, 3.