PLANO, TX – March 12, 2009 – Bluegreen Communities?, a division of Bluegreen Corporation (NYSE: BXG) and one of the nation’s premier master-planned community developers, has announced a “Value Assurance Guarantee” promotion that offers land buyers in Texas the ultimate protection of their land purchases.

During this one-time promotion from March 2 through March 31, 2009, buyers who purchase property in one of Bluegreen’s eight Texas communities will be reimbursed 10% of any depreciated value, if the value of their home site depreciates by more than 10% of the purchase price.

“With prices and interest rates at historic lows, this is one of the best times in recent history to buy land,” said David Verani, Senior Vice President of Marketing and Sales, Bluegreen Communities. “With Bluegreen’s Value Assurance Guarantee to lower the risk, we want to help consumers pursue their dreams of owning land, whether it is to build a custom dream home now, or to hold for the future.”

Texas Real Estate Market is strongest in U.S.

With the current volatility of the stock market, an investment in land is an attractive alternative to stocks, and recent reports show that Texas holds the best real estate values in the country. According to PMI Mortgage Insurance Company’s first quarter 2009 Economic and Real Estate Trends report, four of the top five "most stable markets, where home values are likely to stay the same (or perhaps even rise a little) are:" Dallas-Plano-Irving, Fort Worth, Houston, and San Antonio. Bluegreen has communities in each of these markets.

As recently as October 2008, four Texas cities – Austin, San Antonio, Houston and Dallas – landed on the Forbes.com Top 10 list for “Best Bang for the Buck Cities” (ranked #1, #2, #4, & #7 respectively). According to Forbes.com, "[These cities] lead our list of places where your money goes farthest. Residents enjoy affordable housing and promising prospects for job growth in coming years."

Promotion Details

The Value Assurance Guarantee offer is valid March 2 - 31, 2009. MAI appraisal paid by the property owner and conducted in the twenty-third (23rd) month after contract date. Bluegreen reserves the right to have their own appraisal ordered to confirm the value reduction. Bluegreen will pay a maximum of 10% reimbursement of purchase price upon confirmation that home site value has decreased by 10% or more. For more information call 800-231-7076 or visit www.bluegreencommunities.com.

About Bluegreen Communities

Bluegreen Communities®, a division of Bluegreen Corporation (NYSE: BXG), is a developer of master-planned communities, including eight communities in Texas located near San Antonio, Austin, Houston and Dallas / Fort Worth. Over the past 40 years, Bluegreen Communities has developed top-rated communities in some of our nation's most coveted areas, offering the perfect balance of country living and city convenience, with privacy and scenery paramount. Bluegreen has sold over 55,000 master-planned residential and golf community homesites in 32 states and is an award-winning green developer. The company's commitment to responsible land use, environmental protection, as well as to the safekeeping and conservation of its communities through reasonable protective covenants ensures that they can be enjoyed by generations to come. For more information on Bluegreen Communities, visit www.bluegreencommunities.com.