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ILG Completes Securitization of Vacation Ownership Notes

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ILG, Inc. (NASDAQ:ILG) announced today that it has completed a term
securitization transaction involving the issuance of $287 million of
asset-backed notes. VSE 2018-A VOI Mortgage LLC, an indirect
wholly-owned subsidiary of Vistana Signature Experiences, Inc.
("Vistana") issued these notes in three tranches: $209 million of Class
A notes with an interest rate of 3.56%; $49 million of Class B notes
with an interest rate of 3.72%; and $29 million of Class C notes with an
interest rate of 4.02%. The notes are backed by vacation ownership loans
and had an overall weighted average coupon of 3.63%. The advance rate
for this transaction was approximately 98%.

Of the $287 million in proceeds from the transaction, $25 million was
used to redeem the outstanding balance on Vistana's 2012 securitization,
and $71 million will be held in escrow to purchase additional vacation
ownership loans, or, if not used for said purpose, returned to the
investors. The remainder will be used to pay transaction expenses, fund
required reserves, pay down a portion of the borrowings outstanding
under ILG's $600 million revolving credit facility and for general
corporate purposes.

The transaction was completed in reliance upon Rule 144A and Regulation
S as a placement of securities not registered under the Securities Act
of 1933, as amended, or any state securities law. All of such securities
having been sold, this announcement of their sale appears as a matter of
record only.

About ILG

ILG (NASDAQ:ILG) is a leading provider of professionally delivered
vacation experiences and the exclusive global licensee for the Hyatt®, Sheraton®,
and Westin® brands in vacation ownership. The company offers
its owners, members, and guests access to an array of benefits and
services, as well as world-class destinations through its international
portfolio of resorts and clubs. ILG's operating businesses include
Aqua-Aston Hospitality, Hyatt Vacation Ownership, Interval
International, Trading Places International, Vacation Resorts
International, VRI Europe, and Vistana Signature Experiences. Through
its subsidiaries, ILG independently owns and manages the Hyatt Residence
Club program and uses the Hyatt Vacation Ownership name and other Hyatt
marks under license from affiliates of Hyatt Hotels Corporation. In
addition, ILG's Vistana Signature Experiences, Inc. is the exclusive
provider of vacation ownership for the Westin and Sheraton brands and
uses related trademarks under license from Starwood Hotels & Resorts
Worldwide, LLC. Headquartered in Miami, Florida, ILG has offices in 15
countries and more than 10,000 associates. For more information, visit www.ilg.com.

CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS

Information included or incorporated by reference in this communication,
and information which may be contained in other filings with the
Securities and Exchange Commission (the "SEC") and press releases or
other public statements, contains or may contain "forward-looking"
statements, as that term is defined in the Private Securities Litigation
Reform Act of 1995 or by the SEC in its rules, regulations and releases.
These forward-looking statements include, among other things, statements
of plans, objectives, expectations (financial or otherwise) or
intentions.

Forward-looking statements are any statements other than statements of
historical fact, including statements regarding ILG, Inc.'s (the
"Company") and Marriott Vacations Worldwide Corporation's ("MVW")
expectations, beliefs, hopes, intentions or strategies regarding the
future. Among other things, these forward-looking statements may include
statements regarding the proposed combination of the Company and MVW;
our beliefs relating to value creation as a result of a potential
combination of the Company and MVW; the expected timetable for
completing the transactions; benefits and synergies of the transactions;
future opportunities for the combined company; and any other statements
regarding the Company's and MVW's future beliefs, expectations, plans,
intentions, financial condition or performance. In some cases,
forward-looking statements can be identified by the use of words such as
"may," "will," "expects," "should," "believes," "plans," "anticipates,"
"estimates," "predicts," "potential," "continue," or other words of
similar meaning.

Forward-looking statements are subject to risks and uncertainties that
could cause actual results to differ materially from those discussed in,
or implied by, the forward-looking statements. Factors that might cause
such a difference include, but are not limited to, general economic
conditions, our financial and business prospects, our capital
requirements, our financing prospects, our relationships with associates
and labor unions, our ability to consummate potential acquisitions or
dispositions, our relationships with the holders of licensed marks, and
those additional factors disclosed as risks in other reports filed by us
with the Securities and Exchange Commission, including those described
in Part I of the Company's most recently filed Annual Report on Form
10-K and subsequent reports on Forms 10-Q and 8-K as well as in MVW's
most recently filed Annual Report on Form 10-K and subsequent reports on
Forms 10-Q and 8-K and in the joint proxy statement/prospectus included
in the registration statement on Form S-4 filed by MVW with the SEC, and
any amendments thereto.

Other risks and uncertainties include the timing and likelihood of
completion of the proposed transactions between the Company and MVW; the
possibility that the Company's stockholders may not approve the proposed
transactions; the possibility that MVW's stockholders may not approve
the issuance of the MVW shares to be issued in connection with the
proposed transactions; the possibility that the expected synergies and
value creation from the proposed transactions will not be realized or
will not be realized within the expected time period; the risk that the
businesses of the Company and MVW will not be integrated successfully;
the potential impact of disruption from the proposed transactions making
it more difficult to maintain business and operational relationships;
the risk that unexpected costs will be incurred; the ability to retain
key personnel; the availability of financing; the possibility that the
proposed transactions do not close; as well as more specific risks and
uncertainties. You should carefully consider these and other relevant
factors, including those risk factors in this communication and other
risks and uncertainties that affect the businesses of the Company and
MVW described in their respective filings with the SEC, when reviewing
any forward-looking statement. These factors are noted for investors as
permitted under the Private Securities Litigation Reform Act of 1995. We
caution readers that any such statements are based on currently
available operational, financial and competitive information, and they
should not place undue reliance on these forward-looking statements,
which reflect management's opinion only as of the date on which they
were made. Except as required by law, we disclaim any obligation to
review or update these forward-looking statements to reflect events or
circumstances as they occur.

NO OFFER OR SOLICITATION

This communication is for informational purposes only and is not
intended to and does not constitute an offer to buy, nor a solicitation
of an offer to sell, subscribe for or buy any securities or the
solicitation of any vote or approval in any jurisdiction pursuant to or
in connection with the proposed transactions or otherwise, nor shall
there be any sale, issuance or transfer of securities in any
jurisdiction in contravention of applicable law. No offer of securities
shall be made except by means of a prospectus meeting the requirements
of Section 10 of the Securities Act of 1933, as amended, and otherwise
in accordance with applicable law.

IMPORTANT INFORMATION AND WHERE TO FIND IT

The proposed transactions involving the Company and MVW will be
submitted to the Company's stockholders and MVW's stockholders for their
consideration. In connection with the proposed transaction, on July 19,
2018, MVW filed with the Securities and Exchange Commission (the "SEC")
an amendment to the registration statement on Form S-4 that included a
joint proxy statement/prospectus for the stockholders of the Company and
MVW and was filed with the SEC on June 6, 2018. The registration
statement was declared effective by the SEC on July 23, 2018. The
Company and MVW mailed the definitive joint proxy statement/prospectus
to their respective stockholders on or about July 25, 2018 and each of
the Company and MVW intend to hold the special meeting of the
stockholders of the Company and MVW on August 28, 2018. This
communication is not intended to be, and is not, a substitute for such
filings or for any other document that the Company or MVW may file with
the SEC in connection with the proposed transaction. SECURITY HOLDERS
ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH THE SEC, INCLUDING
THE REGISTRATION STATEMENT ON FORM S-4 AND THE JOINT PROXY
STATEMENT/PROSPECTUS, CAREFULLY AND IN THEIR ENTIRETY, BECAUSE THEY WILL
CONTAIN IMPORTANT INFORMATION. The registration statement, the joint
proxy statement/prospectus and other relevant materials and any other
documents filed or furnished by the Company or MVW with the SEC may be
obtained free of charge at the SEC's web site at www.sec.gov.
In addition, security holders will be able to obtain free copies of the
registration statement and the joint proxy statement/prospectus from the
Company by going to its investor relations page on its corporate web
site at www.ilg.com
and from MVW by going to its investor relations page on its corporate
web site at www.marriottvacationsworldwide.com.

PARTICIPANTS IN THE SOLICITATION

The Company, MVW, their respective directors and certain of their
respective executive officers and employees may be deemed to be
participants in the solicitation of proxies in connection with the
proposed transaction. Information about the Company's directors and
executive officers is set forth in its Annual Report on Form 10-K for
the year ended December 31, 2017, which was filed with the SEC on March
1, 2018 and in its definitive proxy statement filed with the SEC on May
7, 2018, and information about MVW's directors and executive officers is
set forth in its Annual Report on Form 10-K for the year ended December
31, 2017, which was filed with the SEC on February 27, 2018, and in its
definitive proxy statement filed with the SEC on April 3, 2018. These
documents are available free of charge from the sources indicated above,
and from the Company by going to its investor relations page on its
corporate web site at www.ilg.com
and from MVW by going to its investor relations page on its corporate
web site at www.marriottvacationsworldwide.com.
Additional information regarding the interests of participants in the
solicitation of proxies in connection with the proposed transactions is
presented in the definitive joint proxy statement/prospectus included in
the registration statement on Form S-4 filed by MVW with the SEC, and
may be included in other relevant materials that the Company and MVW
file with the SEC.

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