Sterling Resorts Continues Strong Growth

Company Signs Three New Contracts

. October 14, 2008

DESTIN, Fla. - July 18, 2005 - Sterling Resorts announced today it has signed three new contracts to manage rentals for Amalfi Coast Resort, Dunes of Crystal Beach (both in Destin, Fla.) and Southern Sands (Long Beach, Miss.).

"Sterling Resorts has grown at an extraordinarily fast rate within a short timeframe because of the dedication we have to providing the highest quality of service and management to all of our clients," said Jim Olin, CEO of Sterling Resorts. "As we keep on cultivating and strengthening new and existing partnerships, we will continue to make servicing our clients our number one priority."

Situated on 8.6 acres of tropical landscape in Miramar Beach, Amalfi Coast Resort features 109 spacious two- and three-bedroom ranging from 1,030 to 1,395 square feet of living space. Resort amenities include two swimming pools (one heated), lighted tennis courts, covered parking, a conference center and a private beach.

The Dunes of Crystal Beach is located on the Gulf of Mexico in Destin. The resort will feature 20 condominium units ranging from 2,215 to 2,661 square feet. Amenities include a heated swimming pool and whirlpool and fitness center.

Expanding into Mississippi, Sterling Resorts also signed Southern Sands, a 110-unit resort located across the street from the Gulf of Mexico in Long Beach, Miss. Condominium units will range from 1,394 to 1,723 and boast unobstructed views of the Gulf. Amenities include a heated swimming pool and whirlpool, fitness center, tiki bar and bistro.

"We are excited to add these spectacular resorts to our widespread list of properties," said Olin. "These new contracts are a perfect fit for Sterling Resorts."

Sterling Resorts is a resort vacation rental management and real estate company located in Destin, Fla. Sterling offers beautiful homes and condominium vacation rentals in Northwest Florida and Biloxi, Mississippi. As part of the Cornerstone Development family of companies, Sterling is positioned as the top provider of the highest quality vacation experience on the Emerald Coast. Cornerstone Development developed and owns Kelly Plantation, a golf and waterfront community in Destin, and Sterling Golf and Yacht Club at Bay Point in Panama City Beach, Fla.

For reservations or more information, visit www.SterlingResorts.com. Or call

866-5RESORT.

For more information, contact:

Lynn Fleeger, (407) 261-5716, or [email protected]

Business Contact:

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