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your clubNotes From the WorldMark BoardOn march 9, 2006, the WorldMark Board of Directors gathered for their regular quarterly meeting.The following were among the topicsdiscussed at this session:Midway easement: Carmen Cook,CTRG in-house counsel, clarified thecurrent situation between the impending WorldMark Midway (Utah) resort and the adjacent Homestead GolfCourse. Part of Homestead Golf Courseis located on the resort property pursuant to easement in favor of Homestead;the easement was in place before theproperty was purchased to be a WorldMark resort. Homestead has an option(expiring October 5, 2006) to purchasethe area which is already encumberedby the easement. The following motionwas made and unanimously approved:To authorize the board’s officers to signan agreement and other documentsnecessary to convey the easement areato Homestead should they exercise theirright to purchase.Rentals: A solution was sought regard-ing the problem of owners who renthundreds of thousands of WorldMarkVacation Credits from other owners,re-rent them for profit, or stockpilethem for personal advantage. Theboard decided to consider approachesthat would not completely hinder anowner’s ability to rent vacation credits for personal use, and to schedulea special meeting before the regularNominations are Now Open forthe WorldMark Board of DirectorsEG BRIAN KARASach year, your club holdsan election to fill positions on its board of directors.Nominations are now beingaccepted for two positions onthe 2007 board. All recommendations must include: Your name, owner number, and the following signed statement: “I hereby nominate(nominee’s name and owner number) for WorldMark, TheClub’s Board of Directors.” Both you and the nominee mustbe owners in good standing. One brief paragraph (150 words or less) on the nominee’sbackground and qualifications, along with a brief statement ifthe nominee so desires.Please mail, fax or e-mail your nomination to:WorldMark ElectionAttn: Leslie HibbardWorldMark, The Club6DESTINATIONS May 2006June meeting to discuss options.Owner kiosks: Board president GeneHensley reviewed e-mail from an owner proposing that owner groups be allowed to set up kiosks at the AnnualOwners Meeting. Currently, only vendors offering services to the majority ofowners are allowed to operate kiosks.The board agreed to maintain the current policy, but revisit it as necessary inthe future.Board election results: Results ofthe 2005 election were ratified by theboard. Existing officers remained thesame: Gene Hensley, President; DaveHerrick, Vice President and Treasurer;John Henley, Secretary.9805 Willows Road NERedmond, WA 98052Fax: 425-498-3082E-Mail: Leslie.hibbard@trendwest.comAll nominations must be postmarked by Wednesday,June 7, 2006.The WorldMark Board of Directors will announce its selection of nominees in the Annual Owners Meeting notice materials, which will be mailed to all owners in August. Once youread this information, please immediately complete and mailyour proxy ballot to ensure that we meet the 15% quorumrequired to hold this year’s Annual Owners Meeting.We want you to receive your voting information in a timelymanner. Please ensure that all your contact information isaccurate. Corrections may be sent to the above WorldMarkaddress; or to Owner Services at ownersupport@worldmarktheclub.com.Save the date! This year’s Annual Owners Meetingwill be held on Thursday, October 19, 2006, at 7 p.m.at the Meydenbauer Center, 11100 NE 6th Street,Bellevue, WA, 98004.

OWNERKEYEDUCATIONMay 2006 ClassesOwner Education—a fun and free way to learn all about your ownership.Classes are held at Trendwest sales locations unless otherwise indicated.Reservations are required. For reservations, please call 1-800-397-5968,Mon–Fri, 6 am–9 pm; Sat–Sun, 6 am–5 pm. Class times and locations arealso listed online at www.worldmarktheclub.com/education.All classes are generalinformation except thosemarked with the following codes:E All about exchangesS Gen. info. taughtin SpanishRESERVATIONS REQUIRED — MAKE YOURS TODAY AT 1-800-457-0103N. CALIFORNIAAngels Camp, CAS. CALIFORNIABakersfield, CATue, May 9, 6 pmMon, May 15, 6 pmTracy, CABig Bear, CAHoliday Inn Express3751 N. Tracy Blvd.Tue, May 16, 6 pm-EThu, May 4, 6 pmFresno, CA7215 N. First St.Tue, May 23, 6 pmReno, NVAt resortSun, May 14, 2 pmSun, May 14, 4 pm-EFri, May 19, 6 pm-ETue, May 23, 6 pmWed, May 24, 6 pm-EWed, May 31, 6 pmDiscovery Bay, WASt. George, UTEugene, ORIrvine, CAThu, May 4, 6 pm-EThu, May 4, 8 pmFri, May 12, 6 pmThu, May 18, 6 pm-EThu, May 18, 8 pmTue, May 23, 6 pmWed, May 31, 6 pm-EWed, May 31, 8 pmTue, May 16, 6 pm-ETue, May 16, 8 pm18301 Von Karman Ave.Wed, May 24, 6 pmAt Red Lion Hotel205 Coburg RdThu, May 4, 6 pmBroomfield, COTulsa, OKFri, May 5, 6 pm–ESat, May 6, 2 pmWed, May 10, 6 pmWed, May 10, 8 pm-EWed, May 17, 6 pmWed, May 24, 6 pmWed, May 24, 8 pm-ETue, May 9, 6 pmTue, May 9, 8 pm-ELas Vegas, NVAt resort on Las Vegas Blvd.Sun, Apr 30, 1 pmSun, Apr 30, 3 pm-ESun, May 7, noonWed, May 17, 2:30 pmSun, May 21, 2:30 pmRoseville, CAThu, May 4, 6 pm-ESat, May 13, 10 amSat, May 13, 2 pm-EThu, May 18, 6 pmThu, May 25, 6 pm-EEnglewood, COOceanside, CAAt resortThu, May 11, 6 pmThu, May 25, 6 pm-ESan Diego, CASan Jose, CA2880 Stevens Creek Blvd.Wed, May 3, 6 pm-EWed, May 10, 6 pmSat, May 13, 10 am, 2 pmWed, May 17, 6 pm-ESat, May 27, 10 am, 2 pmSat, May 13, noon-ESat, May 13, 2 pmWed, May 31, 6 pmSan Dimas, CAStockton, CASat, May 6, 10 am-ESat, May 6, noonWed, May 17, 6 pmTue, May 30, 6 pm2323 Grand Canal Blvd.Thu, May 11, 6 pmTorrance, CAWalnut Creek, CAMon, May 8, 6 pmMon, May 22, 6 pm-ESat, May 6, 10 amSat, May 6, 2 pm-ETue, May 16, 6 pmSat, May 20, 10 am, 2 pmTue, May 23, 6 pm-EWindsor, CAThu, May 4, 6 pmThu, May 18, 6 pm-EWestlake Village, CATue, May 2, 6 pmTue, May 16, 4 pm-ETue, May 16, 6 pmMOUNTAINBoise, IDAt 800 S. Industry Wayin MeridianFri, May 5, 10 am–ESat, May 6, 10 amSat, May 6, noon-EThu, May 11, 6 pmTue, May 16, 6 pm-ETue, May 16, 8 pmThu, May 25, 6 pmFederal Way, WAThu, May 4, 6 pmWed, May 10, 4 pmWed, May 10, 6 pm-EThu, May 18, 6 pmWed, May 24, 6pmWolf Creek, UTTue, May 2, 6 pmThu, May 11, 6 pm-EThu, May 11, 8 pmSat, May 20, 10 am-ESat, May 20, noonThu, May 25, 6 pmLeavenworth, WAAt Icicle Inn Best WesternTue, May 9, 4 pm-ETue, May 9, 6 pmNORTHWESTBirch Bay, WASeaside, ORWed, May 3, 6 pmThu, May 18, 6 pmFri, May 19, 6 pm-ETue, May 2, 6 pmSat, May 20, noonSat, May 20, 2 pm-ETue, May 30, 6 pmSeattle, WAIdaho Falls, IDFri, May 19, 6 pm-ETue, May 30, 6 pmTue, May 30, 8 pm-ETue, May 9, 6 pm-ETue, May 9, 8 pmRancho Vistoso, AZBurnaby, BCFri, May 5, 6 pmSat, May 6, 10 am-EFri, May 26, 6 pm-ESat, May 27, 10 amMon, May 8, 6 pmSalt Lake City, UTWed, May 3, 6 pmThu, May 4, 6 pm-EFri, May 12, 6 pm-ESat, May 13, 10 amThu, May 18, 6 pmThe CamlinFri, May 12, 7:30 pmMon, May 22, 4 pmMon, May 22, 6 pm-ENo free on-site parkingBothell, WAWed, May 3, 6 pmThu, May 11, 6 pmThu, May 11, 8 pm-EWed, May 17, 6 pmThu, May 25, 4 pm-EThu, May 25, 6 pmOverland Park, KSSat, May 6, 10 amSat, May 6, 2 pm-ESat, May 27, noonTri-Cities, WAAt Clover Island Inn435 Clover Island Dr.KennewickThu, May 11, 6 pmCoeur d’Alene, IDHeld at the CDA Resortacross from sales officeSat, May 13, 10 amSat, May 13, 2 pm-EDepoe Bay, ORVancouver, WATue, May 2, 6 pmWed, May 10, 6 pm-EWed, May 17, 6 pmWed, May 31, 4 pm-EWed, May 31, 6 pmSat, May 20, 10 amSat, May 20, 2 pm-EDESTINATIONS May 20067

your clubWinner!TWINKLE FARINGER of Lodi, Calif.,won a three-night WorldMark staywhen we selected her completedresort comment card in our drawing forMarch. Fill out that card every time youvacation at a WorldMark resort—youcould be our next winner.Cendant’s Hospitality Spin-Off:Wyndham WorldwideLast fal l Cendant Corporationannounced its dissolution into fournew, separate corporations. On March16, 2006, it was revealed that the nameof the new hospitality company wouldbe Wyndham Worldwide.Stephen P. Holmes, Cendant vicechairman and the new company’schairman and chief executive officer,said Wyndham Worldwide “representsthe elevation of a signature brand withhigh consumer appeal to serve as ournew corporate identity.”Cendant’s two highly regarded resortdevelopment brands, Trendwest Re-Earn 1,000Lifetime CreditsWhen You Buy orSell Your Homesorts and Fairfield Resorts, will continue to operate under their own names,as will their respective timeshare programs WorldMark, The Club andFairShare Plus. Dave Herrick, SeniorVice President of Trendwest Management and WorldMark Operations, affirmed: “While our future spin-off andthe addition of the Wyndham brandrepresents a new chapter in the historyof Trendwest, our WorldMark ownerswill continue to receive the same exceptional value and world-class servicethey’ve come to expect from Trendwestand WorldMark employees.”CALL US FIRST when it’s time to buy or sell your home,and you could earn 1,000 permanent WorldMarkcredits—renewed automatically every year—for life.The Trendwest Real Estate Referral ProgramSMprovides expert service from the nation’s top realestate brokers through an exclusive program availableonly to WorldMark owners. If you’re buying and sellinga home, you could earn up to 2,000 lifetime credits!Call today and find out if you qualify.C A L L T O L L F R E E AT 1 8 7 7 8 6 9 9 6 7 2Inquire online at �Buying my new home through the TrendwestReal Estate Referral ProgramSM was the best realestate experience I have ever been through. And theadditional permanent vacation credits are going toallow me to take an extra-long vacation this year!”Janice Anderson, WorldMark owner since 1998Transaction must be initiated through Trendwest’s Real Estate Referral Office to qualify. Vacation credits will be available only to WorldMark members who register firstwith Trendwest and have been referred to the participating local broker by the Trendwest Real Estate Referral ProgramSM. Owners going directly to the individual realestate brokers without referral will not be eligible to partake in this offer. Some transactions may not be eligible. Program may not be available in all states.8DESTINATIONS May 2006HolidayClosuresIn honor of memorial day, theAdventure Club, Owner Services,and Trendwest Travel will be closedon Monday, May 29; the VacationPlanning Center (Reservations) willbe open from 6 a.m. to 2 p.m.

,IMITED 4IME /NLY%ARN #ASH OR "ONUS #REDITS'03 " -*.*5&% 5*.&3FGFS ZPVS GSJFOET UP 5SFOEXFTU 8IFO UIFZ BUUFOE B QSFTFOUBUJPO XF MM UIBOL ZPV XJUI BTI PS 'SJFOET 'JSTU #POVT SFEJUT JU T ZPVS DIPJDF "OE JG UIFZ KPJO 8PSME.BSL ZPV DPVME CBOL VQ UP PS DSFEJUT :PV CSJOH B GSJFOE UP B QSFTFOUBUJPO 'SJFOE KPJOT 8PSME.BSL5PUBM BTI SFEJUT 'SJFOE BUUFOET B QSFTFOUBUJPO'SJFOE KPJOT 8PSME.BSL5PUBM BTI SFEJUT 6TF UIF DBTI UP TQFOE PO XIBUFWFS ZPV DIPPTF PS DPMMFDU DSFEJUT BOE HJWF ZPVSTFMG NBOZ NPSF WBDBUJPO PQUJPOT 4UBSU FBSOJOH DBTI PS DSFEJUT UPEBZ BMM '3*&/% PS F NBJM VT BU GSJFOETmSTU!XPSMENBSLUIFDMVC DPN#ASH OR #REDITS ,IMITED 4IME 0ROMOTION 7HILE THIS PROMOTION IS IN PLACE OWNER REFERRAL AWARDS WILL BE SENT OUT IN THE FORM OF A CHECK ANDA VOUCHER WILL BE INCLUDED /WNERS WILL HAVE THE OPTION TO CHOOSE &RIENDS &IRST "ONUS #REDITS BY SIMPLY VOIDING THE CHECK MARKING THE VOUCHERFOR THE CREDIT OPTION AND SENDING IT BACK TO THE /WNER 2EFERRAL !WARDS #ENTER AT 4RENDWEST 2ESORTS !TTN &RIENDS &IRST 7ILLOWS 2D .%2EDMOND 7! /WNERS CHOOSING TO RECEIVE &RIENDS &IRST "ONUS #REDITS WILL HAVE THE CREDITS DEPOSITED INTO THEIR ACCOUNT WITHIN DAYS OFRECEIPT OF THE VOIDED CHECK /NCE THE CHECK HAS BEEN CASHED NO CREDITS CAN BE EXCHANGED /NCE CREDITS ARE DEPOSITED INTO AN OWNER ACCOUNT THEYCAN NOT BE EXCHANGED FOR CASH !NY AWARDS ISSUED FOR ACTIVITY PRIOR TO THE START OF THIS PROMOTION ARE INELIGIBLE FOR THE OPTION OF RECEIVING CASH &RIENDS &IRST "ONUS #REDITS ARE ONE TIME USE ONLY AND EXPIRE MONTHS FROM DATE OF ISSUE !LL OTHER &RIENDS &IRST 0ROGRAM #ONDITIONS STILL APPLY 3OME JURISDICTIONS PROHIBIT US FROM ISSUING REWARDS FOR REFERRALS IN THEIR STATES 3TATE RESTRICTIONS ARE SUBJECT TO CHANGE AND OTHER TERMS AND CONDITIONS MAY APPLY &OR MORE INFORMATION AND TO SEE FULL PROGRAM CONDITIONS VISIT WWW WORLDMARKTHECLUB COM FRIENDSlRST OR CALL

fTwo orimthe RFocus on Pinetop Bison RanchYour WorldMark resorts at Pinetop and Bison Ranchoffer distinct settings for the pleasures of pristine air,resident critters, and outdoor activities galoreBy Rebecca Hughes10DESTINATIONS May 2006

If you picture arizona as one big, hot, dry desert, youneed to take a trip way up above it all, into the high countryof the beautiful White Mountains and along the Mogollon (pronounced MUG-ee-un) Rim. Just north and east ofthe state’s center, this oasis offers sweet air, mild year-roundtemperatures, four seasons, spectacular views, and an astounding array of activities.WorldMark boasts two resorts strategically located alongthis high country: Pinetop in the east, in the White Mountains; and Bison Ranch in the west, on the Mogollon Rim. Although only 50 miles (1.1 hr) apart, and convenient to manyof the same activities, the two resorts have different “feels.”If you—or anyone you know—had childhood dreamsof living in a cabin in the woods, or of swaggering into aWestern movie, Pinetop and Bison Ranch, respectively, canhelp you live out those dreams—but with all the comfortsof home. Pinetop (managed by “big Teri” Ries) is nestled inpeaceful woodlands, a whopping 7,200 feet above sea level.Bison Ranch (managed by “little Terry” Burrus), “down” at6,600 feet, immerses visitors in Old West atmosphere.The women’s nicknames, which date from when Terryworked for Teri as assistant manager at Pinetop, have nothing to do with size. “I keep telling Teri, ‘It’s about importance,’” Terry smiles.Some owners add a visit to the high country onto a tripto WorldMark’s Rancho Vistoso resort in Tucson—200miles (4.1 hrs) from Pinetop; 250 miles (5.3 hrs) from Bison Ranch. Most WorldMark owners who visit Pinetopand Bison Ranch live in the Phoenix area—known locallyas the Valley of the Sun, or the Valley for short. They comeup to the high country to escape from the heat of the summer and to play in the snow in the winter, especially atSunrise Park Resort, near Pinetop. But even when there’sno snow on the ground, there’s tons of fun to be had in themountains and along the Rim in the winter.As owners drive north—and uphill—from the Valley ofthe Sun, their ears start popping, and the air they breathe getscooler and fresher. The sun-baked sand, scattered with theREBECCA HUGHESLeft: Arizona’s high country enjoys full seasonal changes, and presentsnumerous opportunities for corresponding outdoor activities. Above,left to right: Colorful Bison Ranch could double as a movie set for aWestern; Pinetop offers shaded refuge amidst the evergreens.DAN STEARNSSUNRISE SKI PARKDAN STEARNSReal-life dreamsDAN STEARNSDAN STEARNS (2)DESTINATIONS May 200611

Focus on PinetopREBECCA HUGHES (2)Pinetop manager“big Teri” Riesand Bison Ranchmanager “littleTerry” Burrus.rude gestures of cacti, gives way to sagebrush;then pine, spruce, fir, and oak trees; and finallyto wildflower-bedecked meadows up above thetree line. Along the way, many owners listento country & western music on the radio, orslip in a CD or tape of the C&W band calledMogollon. (They live in Phoenix now but hailfrom the area right around Bison Ranch.)Like the plentiful migratory birds on viewhere, many WorldMark owners keep coming back to Pinetop, while others prefer BisonRanch. And some swear by combining tripsto the two resorts—a few nights at one, thena few at the other—turning their pleasant tripup from the Valley into a loop, with differentsightseeing detours on their way up and down.Pleasing choices12DESTINATIONS May 2006DAN STEARNSHowever they plan their trips, owners whovisit the high country get away from it all andrelax in the ways that please them most: Between glorious sunrises and sunsets,many savor outdoorsy days that revolve aroundgolfing, hiking, biking, swimming, boating,bird-watching, fishing, hunting, or rock collecting. They go horseback-riding right on thegrounds of Bison Ranch. They ski at SunriseSki Park, or explore the Petrified Forest, bothnear Pinetop. History buffs discover the Old West at FortApache, near Pinetop. They see Indian ruins, including Montezuma Castle, near Bison Ranch;Casa Malpais, near Pinetop; and even Canyonde Chelley, two hours northeast of Pinetop. New Age devotees check out the artsytowns of Sedona and Jerome, and the ecological architecture of Arcosanti, all west ofBison Ranch. Others enjoy scenic drives, or shopping, or24-hour gambling, dancing, and Vegas-styleshows at Hon-Dah Casino, near Pinetop.The high country is also a great place tohang out with family or your true love—orall by your lonesome—around a gas fireplaceor a TV (with DVD and VCR, of course). Itcouldn’t be a more restful setting—for whatever you have in mind.

Home inthe HighCountryWorldMark Pinetop offers owners awooded, lake-filled wonderlandBy Rebecca HughesBREBECCA HUGHESruce johnson gazes out one of the many windows in the living roomof the two-bedroom unit at WorldMark Pinetop where he’s staying withhis wife Dell (Frances), after visiting friends in Prescott, Ariz. “This areais beautiful,” he says. “It reminds me of Lake Arrowhead, where I wentto bible college. What a nice, quiet getaway from the rat race!”The back of the Johnson’s unit, like all the others at Pinetop, faces the world’s largeststand of Ponderosa pines. Beyond the trees is a lovely meadow. The large living roomhas a gas fireplace and looks out on the quiet woods. The big bedrooms, like the livingroom, are decorated Southwest style and have wooden ceiling fans. The kitchen hasearth-toned tiles and an island with a counter in addition to the dining table.This is Bruce’s first time at Pinetop, but Dell’s second. She’s eager to show himaround the resort. Dell visited a year ago—at the last minute, Bruce had to work—bringing three friends of theirs, including a couplewho had recently sold several Subway franchises inCalifornia. “These friends of ours, they’re worldtravelers, and very well off,” Dell says. During theirvisit, the friends were looking to buy property inthe Pinetop area. “But I said, ‘Why spend hundreds of thousands of dollars for one place whenyou could spend a tenth of that for a WorldMarktimeshare and go anywhere, even Europe?’” ❯❯DAN STEARNSFrom far left: Casting off into one of the White Mountainregion’s 50 lakes; the pool at WorldMark Pinetop offers arefreshing dip; WorldMark owners Dell and Bruce Johnson .DESTINATIONS May 200613

Focus on Pinetop14DESTINATIONS May 2006Fort Apache lorePinetop front desk clerk Eunice Hutton grew up on the White MountainApache Reservation, in Whiteriver, nearFort Apache, where the old TV

The Golf Issue: Golf discounts for WorldMark owners, and WorldMark resorts with adjacent courses, including The Golf Club at Terra Lago in Indio, Calif. Also: Golf lessons for credits; Footloose in Costa Rica; Seattle and Anaheim baseball events; cruises to Mexican Riviera, Eastern Caribbean, and Baja.