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The Jackson Companies announce New President and CEO

May 4, 2001

What: The Board of Directors of The Jackson Companies has elected Dennis L. Wade to the position of President and Chief Executive Officer (CEO).

Who: The Jackson Companies, founded by Mary Emily and Nelson Jackson and their five daughters, includes Prestwick Golf & Country Club, Ocean Lakes Family Campground, Ocean Lakes Properties, Crystal Lake Mobile Home Village, Ocean Lakes RV Center and “SayeBrook,” the new master planned mixed use development.

* Dennis L. Wade, newly elected President and CEO, has served as Chief Financial Officer (CFO) and Corporate Secretary since joining The Jackson Companies in 1997.

* Winston Hoy is the former President and Chief Executive Officer and has been with The Jackson Companies for 24 years. He has been re-elected as Chairman of the Board of Directors.

* Other Senior Officers include: M. Lance Thompson, Vice President and Corporate Secretary; Steven E. Alger, Vice President and Assistant Secretary; and David P. DuRant, Vice President.

Details:

The Jackson Companies are proud to announce that Dennis L. Wade has been elected to the position of President and Chief Executive Officer (CEO). Wade has served as Chief Financial Officer (CFO) and Corporate Secretary since joining The Jackson Companies in 1997. The Jackson Companies, founded by Mary Emily and Nelson Jackson and their five daughters, includes Prestwick Golf & Country Club, Ocean Lakes Family Campground, Ocean Lakes Properties, Crystal Lake Mobile Home Village, and Camping Sales and Service as well as the new master planned mixed use development “SayeBrook.” The family owned business employs nearly 200 teammates year round and employs an additional 150 teammates in-season. As Chief Executive Officer, Wade will oversee the daily operations of the company and its subsidiaries. The Jackson Companies’ subsidiary, Ocean Lakes Family Campground, has received national recognition as a leader in the campground industry as 1997 and 1999 National “RV Park of the Year,” as well as regional recognition with its certification by the Waccamaw Quality Council’s WQC Quality Certification Program.

Wade, a Lancaster, SC native, graduated from the University of South Carolina. Prior to joining The Jackson Companies, Wade held various financial and management positions in Columbia, SC. He has been very involved in the Grand Strand community and serves as a 2001-2002 Board Member, Treasurer, and Chairman of the Finance Review Committee for the Myrtle Beach Area Chamber of Commerce, is an Alumni of Leadership Grand Strand XIX, and recently served on the Targeted Industry Site Selection Committee for PARTNERS Economic Development Corporation. True to his alma mater, Wade is on the University of South Carolina Friends of Accounting Alumni Board and has served as Past Chairman and Treasurer. “I am honored to be entrusted with the leadership of such an outstanding company that is empowered by a family and teammates that embrace family-friendly values and policies.” Dennis, his wife, their daughter and son reside in Prestwick.

Wade succeeds Winston Hoy, who is retiring as CEO and from the daily operations of The Jackson Companies. “Dennis has the full support of the family, owners, directors and teammates of The Jackson Companies and he will meet all expectations of leadership in his new role as we position our companies for the future,” comments Hoy. Hoy was re-elected as Chairman of the Board of The Jackson Companies and will work with Wade, the Board, and the owners to assist the continued success of the company. Nelson Jackson, founder, continues as Chairman Emeritus. He and his wife, Mary Emily, are active in the community and with their companies.

Additional Information on The Jackson Companies’ Subsidiaries:

* Ocean Lakes Family Campground was built by Mary Emily and Nelson Jackson, along with their five daughters, and opened on July 2, 1971 with 30 campsites and one bathhouse. Today, Ocean Lakes features 3,357 sites on 310 oceanfront acres with nearly one mile of beachfront. It is the largest campground on the East coast and one of the largest in the United States. Ocean Lakes has helped to revolutionize the campground industry, primarily because of Jackson’s foresight and planning. All 893 transient campsites are large and pull-through, accommodating today’s increasingly larger RVs. Some of the many amenities include over 650 golf car rentals and sales, a large store, three snack bars, air-conditioned bathhouses and laundromats and an arcade. It was named the 1997 and 1999 National “RV Park of the Year” by the National Association of RV Parks and Campgrounds.

* Ocean Lakes Properties handles the sales and rentals of approximately 2,464 annual lease sites for the campground. With the most diverse structures and accommodations offered in the campground industry, Ocean Lakes is very appealing to the non-camper. The leasee is permitted to have a variety of structures including a trailer, a mobile home, a park model or a two-story stick built house with up to 1600 square feet of living space.

* Prestwick Country Club is a premier gated community that showcases more than 600 homesites including Wynfield, Highgrove and Manchester Place. It features a plantation style Clubhouse with a restaurant and a pro shop, a Tennis and Swim Center and an 18 hole golf course designed by Pete and P.B. Dye featuring Scottish berms, deep pot bunkers, lakes and rolling greens.

* Ocean Lakes RV Center, adjacent to Ocean Lakes’ entrance, has won the “Circle of Excellence Award” by Fleetwood for Customer Satisfaction the past 9 years in a row. It sells new and used RV’s, Fifth Wheels, travel trailers a folding campers. It has a large show floor, a store with RV supplies and an Awning Center. The repair garage has specially trained technicians that will go to a campsite to service a campers’ RV.

* Crystal Lake Mobile Home Village is located near Lakewood Elementary School and features 376 lots for single or doublewide mobile homes.