ILX Acquisition, Inc. Successfully Completes the Acquisition of a Substantial Portion of the Assets of ILX Resorts Incorporated

Engages Diamond Resorts for resort management and sales and marketing operations

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Las Vegas, NV (Vocus) September 3, 2010

ILX Acquisition, Inc., today announced its successful acquisition of a substantial portion of the assets of ILX Resorts Incorporated. ILX Acquisition, Inc. will set in place a plan for the future strategic growth and value of the organization as a whole, and for the more than 25,000 timeshare owners and ten resorts located in the United States and Mexico.

ILX Acquisition, Inc. has appointed Diamond Resorts Management, Inc. to immediately assume resort management services and homeowner association oversight at Los Abrigados Resort & Spa, The Inn at Los Abrigados and Premiere Vacation Club at Bell Rock in Sedona, Arizona; Premiere Vacation Club at the Roundhouse Resort in Pinetop, Arizona; Kohl’s Ranch Lodge in Payson, Arizona; VCA – Tucson Chapter, in Tucson, Arizona; The Historic Crags Lodge in Estes Park, Colorado; and VCA – South Bend Chapter in Mishawaka, Indiana. In addition, ILX Acquisition, Inc. has appointed Diamond Resorts Management, Inc. to manage the inventory in the Premiere Vacation Club which includes inventory in the above resorts as well as inventory at the following locations in Arizona and Nevada: Roundhouse Resort, The Carriage House and Scottsdale Camelback Resort. Furthermore, ILX Acquisition, Inc., through its Mexican subsidiary, has entered into an agreement with a third party to manage operations at the Sea of Cortez Premiere Vacation Club in San Carlos, Sonora, Mexico.

Owners and members with timeshare usage rights at these resorts will be unaffected by this acquisition. According to Stephen J. Cloobeck, Chairman and Chief Executive Officer, ILX Acquisition, Inc., “Recognizing the value of these resorts, the company as a whole, and the opportunity to strategically rebuild the vacation ownership platform for current owners and members is exciting in itself but represents a continued shift for the timeshare and vacation ownership industry toward customer satisfaction and product credibility. Our goal is to bring expert leadership to the management of these resorts as well as build a relationship of satisfaction, loyalty and future product development.”

Additionally, ILX Acquisition, Inc. has engaged Diamond Resorts International Marketing, Inc. to provide sales and marketing services for current product fulfillment and future growth and development.

ILX Acquisition, Inc. has developed a website for resort owners and club members to provide assistance with contact information, frequently asked questions and update-to-date information for your convenience. Owners of timeshare units and club members can find the most current information regarding operations, reservations and customer service as well as links to other pertinent communication regarding their ownership and membership at http://www.keepingyouinthepicture.com.

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