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640-Acre Golf, Residential and Resort Community in Central Oregon One of Golf Digest's "75 Best Golf Resorts in North America"

February 10, 2012 (Bend, OR) - Pronghorn Resort, a luxury resort and golf community in Central Oregon, announced today that The Resort Group (TRG) has taken ownership of the resort from the borrower. Based in Honolulu, Hawaii, TRG, whose depth of experience creating master-planned residential resort communities includes Ko Olina Resort (Oahu, Hawaii) and Princeville at Hanalei (Kauai, Hawaii), purchased the debt on Pronghorn from Société Générale in December 2011.

"TRG has a proven record of creating some of the world's top resort communities and we're excited to work together to advance Pronghorn into its future stages as a premier resort golf destination," said Spencer Schaub, general manager of Pronghorn Resort.

Situated on 640 stunning acres in Central Oregon, Pronghorn Resort has received recognition as one of the country's top luxury golf communities. It includes two championship golf courses designed by Tom Fazio and Jack Nicklaus, world-class amenities and luxurious facilities, including a spa, clubhouse, multiple fine dining restaurants and a 48-suite luxury lodge which opened to the public in June 2010. Guests and homeowners have access to countless outdoor activities such as hiking, mountain biking, rafting, fly-fishing on the nearby Deschutes River and skiing at Mt. Bachelor, North America's 5th largest ski area.

"Pronghorn is one of the premier resort communities in the United States," says TRG President and CEO Jeffrey R. Stone. "The numerous accolades it has received throughout the years is an incredible testament to Pronghorn's vision of becoming the leading 5-star resort, golf and residential development in the Pacific Northwest. We're looking forward to contributing to its future." Pronghorn's many accolades include:

• #43 in Golf Digest's "75 Best Golf Resorts in North America" in October 2011
• #23 (Nicklaus Course) in Golf Digest's list of "America's 100 Greatest Public Courses" in May 2011
• #12 (Fazio Course) in Golfweek's ranking of the "Best Residential Courses"
• Finalist for "Best New Wedding Venue" by Oregon Bride in 2011

For real estate inquiries contact Cascade Sotheby's International Realty at Pronghorn at 541-693-5411. For general resort inquiries, contact Spencer Schaub at 541-693-5300.

About Pronghorn Resort
Pronghorn, originally conceived and approved in 2002, is a unique, highly-regarded 640-acre golf, residential and resort development located in Bend, Oregon. The development includes more than 400 residential lots and fractional units; two premier, award-winning golf courses, designed by Jack Nicklaus and Tom Fazio; and, a full complement of high-end golf amenities including a 55,000 square foot clubhouse with fitness centers, spa and meeting rooms, a 10,000 square foot recreation center and a PGA Golf Academy.

65600 Pronghorn Club Drive
Bend, OR 97701
Visit: PronghornResort.com

About The Resort Group
TRG provides strategic real estate consulting services and equity investment opportunities for a diverse range of real estate development projects. As a master developer, TRG creates or re-shapes distinctive world-class identities for mixed use resort communities and has successfully introduced prospective clients, partners and investors to exciting land development opportunities in Hawaii and abroad. TRG has been responsible for the tremendous growth of two master planned resort communities in Hawaii -- Honolulu's Ko Olina Resort & Marina and Kauai's Princeville at Hanalei - both of which feature a selection of globally-recognized luxury resort and hotel brands, vacation homes, timeshare units, condominiums, restaurants, retail and commercial spaces, sports and fitness facilities, golf courses and beach and water sports activities and amenities. www.theresortgroup.com

Media Contacts:

The Resort Group
Sheila Donnelly & Associates
Sweetie Nelson
Phone: 808-949-4131
sweetie@sheiladonnelly.com