These are resorts whose associations entered into an Affiliation Agreement entitling members to participate in the PSE Program on a per transaction basis. The Member Resorts are:

Dolphin’s Cove Resort Anaheim, California	The St. George's Club St. George, Bermuda

ALL RESORTS LISTED ABOVE, WHETHER CHARTER OR MEMBER, PARTICIPATE IN THE PSE PROGRAM SUBJECT TO THE TERMS AND CONDITIONS OF THEIR AFFILIATION AGREEMENT. ACCORDINGLY, IF THE AFFILIATION AGREEMENTS EXPIRE OR ARE TERMINATED BY EITHER THE ASSOCIATION OR THE EXCHANGE AGENT, SUCH RESORT SHALL NO LONGER BE INCLUDED AS PART OF THE PSE PROGRAM AND SHALL NOT BE AVAILABLE TO PSE MEMBERS.

ADDITIONALLY, FROM TIME TO TIME, NEW RESORTS MAY BECOME AFFILIATED WITH THE PROGRAM AS MEMBER RESORTS.