Outlook the State of the Vacation Timeshare Industry, U.S. Study, 2009 edition Next Steps Economic Impact of the Timeshare Industry on the U.S. Economy, 2008 edition Vacation Timeshare Owners Report, 2009 edition If you know of a financial institution that would benefit from this ARDA Lender Presentation, or if you’d like please contact Howard Nusbaum at hnusbaum@arda.org. Owner Survey The Big Picture Developments January 2010