Sunterra Corporation Announces Executive Management Changes

    ORLANDO, Fla., June 16 /PRNewswire/ -- Sunterra Corporation (NYSE:   OWN)
 today announced the promotion of two senior executives:  Keith J. Brown to the
 position of Treasurer and Sandra K. Michel to the position of General Counsel.
     The Company also announced the resignation of Richard Goodman as Chief
 Financial Officer and Carol Sullivan as Treasurer.  Both will remain with the
 Company in transitional capacities over the next several weeks.
     Ms. Michel takes over as General Counsel from Tom Bell, who remains with
 the Company in a key role as Senior Vice President for Governmental Affairs.
     In commenting on these changes, Lin Morison, CEO, said, "Richard and Carol
 have both made significant contributions to the Company over the last two
 years, and we regret that they are leaving.  We thank them for their tireless
 efforts and wish them well in their future endeavors."
     "At the same time, I am very pleased to have Keith Brown, who has served
 the Company in a variety of senior operating roles and who came to us with
 extensive banking experience, take on additional responsibilities as
 Treasurer.  Keith will continue as General Manager of Sunterra Financial
 Services, which handles the operational aspects of our mortgages receivable
 portfolio.  I am also pleased to promote Sandy Michel, who has served over the
 past year as Deputy General Counsel and who has played an increasingly
 important role in the business and legal affairs of the Company.
     Keith Brown spent 23 years in the commercial banking business prior to
 joining Sunterra in 1997 as VP marketing.  Most recently, he was President/CEO
 of First Midwest Bank/Illinois, a community bank located in the Chicago
 suburbs.  Before joining FMB, Keith spent 20 years at First Chicago (now
 BancOne) in Chicago, in a wide variety of management positions in investment
 management, private banking, bankcards, cash management, and retail banking,
 including division President in community banking.  He received an MBA from
 the University of Chicago in 1975.
     Prior to joining Sunterra, Ms. Michel was Senior Counsel and Assistant
 Secretary at W. R. Grace & Co., where she handled a wide variety of
 international real estate and corporate transactional matters since 1991.
 From 1980 to 1991, she was in private law practice in New York and South
 Florida, specializing in real estate related transactions and financings.  Ms.
 Michel earned her Bachelor of Business Administration degree, magna cum laude,
 from the University of Miami in 1977 and her Juris Doctorate degree, also from
 the University of Miami in 1980.
 
 

SOURCE Sunterra Corporation

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