Rule 8.11 Advertising and Marketing:

1. No advertising shall:

• Misrepresent a fact or create a false or misleading impression regarding the timeshare plan.

• Make a prediction of increases in the price or value of timeshare periods.

• Contain any contradictory statements.

• Describe any improvements to the timeshare plan that will not be built or that are described as completed when not completed.

• No promotional device, sweepstakes, lodging certificate, gift award, premium, discount, drawing, prize or display in connection with an offer to sell a timeshare interest may be utilized without the applicable disclosure as follows:

• That the promotional device is being used for the purposes of soliciting sales of timeshare periods;

• Of the name and address of each timeshare plan or business entity participating in the program;

• Of the date and year when all prizes are to be awarded;

• Of the method by which all prizes are to be awarded;

• If applicable, a statement that it is a national program with multiple sponsors and the gifts offered are not limited solely

to customers of said development but apply also to other developments.

• The following are not considered to be advertising materials:

• Any stockholder communication, financial report, prospectus or other material required to be delivered to owners, prospective purchasers or other persons by an agency of any state or the federal government;

• Any communication addressed to and relating to the account of any person who has previously executed a contract for the purchase of a timeshare interest in a timeshare plan to which the communication relates;

• Any oral or written statement disseminated to the broadcast, print or other news media, other than paid advertising, regarding plans for the acquisition or development of timeshare property. However, any redistribution of such oral or written statements to a prospective purchaser in any manner would constitute an advertisement;

• Any publication or material relating to the promotion of accommodations for transient rental, so long as a mandatory tour of a timeshare plan or attendance at a mandatory sales presentation is not a term or condition of the availability of such accommodations, so long as the failure of the transient renter to take a tour of a timeshare plan or attend a sales presentation does not result in the transient renter receiving less than what was promised in such materials;

• Any audio, written or visual publication or material relating to an exchange company or exchange program providing to an existing member of that exchange company or exchange program.