Silverleaf Resorts, Inc. Provides Update on Hurricane Rita Impact
28 Septembre 2005 - 2:36PM
Business Wire
Silverleaf Resorts, Inc. (AMEX:SVL) today provided the following
update on the effects of Hurricane Rita. As previously reported,
two of Silverleaf's resorts were affected by Hurricane Rita. The
Company's Seaside Resort near Galveston was evacuated, and the
sales operations were suspended at the Piney Shores Resort,
northeast of Houston. The Company also reported that the timing of
the reopening of these two resorts was largely dependant on the
restoration of utility services. The Company is pleased to report
that initial on site inspections at the resorts indicate that
damage was minimal. All utility services were fully restored by
Tuesday, September 27, 2005. As a result, both resorts will be
reopened on Friday, September 30, 2005. The Company continues to
assess the additional impact of the storm, if any, on its business
assets and results of operations. Based in Dallas, Texas,
Silverleaf Resorts, Inc. currently owns and operates 13 timeshare
resorts in various stages of development. Silverleaf Resorts offers
a wide array of country club-like amenities, such as golf,
swimming, horseback riding, boating, and many organized activities
for children and adults. This release contains certain
forward-looking statements that involve risks and uncertainties and
actual results may differ materially from those anticipated. The
Company is subject to specific risks associated with the timeshare
industry, the regulatory environment, and various economic factors.
These risks and others are more fully discussed under the heading
"Cautionary Statements" in the Company's reports filed with the
Securities and Exchange Commission, including the Company's 2004
Annual Report on Form 10-K (pages 19 through 27 thereof) filed on
March 25, 2005.
Silverleaf Resorts (AMEX:SVL)
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