Leisure Industries Signs With Construction Corporation

LAS VEGAS— Leisure Industries Corp., formerly known as Mego Financial Corp., said it has signed Plaza Construction Corporation, a full-service construction management and general contracting firm, to conduct a companywide review of its resort facilities. Under the agreement, Plaza Construction will take the lead in developing a complete master plan for renovating and retrofitting all of Leisure Industries’ existing properties. Plaza will also be responsible for performing due diligence on proposed acquisitions as well as managing the construction of all new developments planned by the company. Leisure Industries Corporation is a developer and operator of vacation ownership resorts; provider of travel and tourism services and sells developed and undeveloped real estate parcels to the vacation home market. Plaza Construction Corporation is an independent construction corporation privately owned by Fisher Brothers, one of the New York area’s leading owner/builder/managers of commercial and residential buildings. In addition, Brennan Beer Gorman, architects, and Brennan Beer Gorman Monk, interiors, have been engaged as the interior designer of the project. Mego Financial Corp. announced on April 12, 2002 the launching of its new corporate identity with a name change to Leisure Industries Corporation, subject to shareholder approval. Leisure Industries develops and operates vacation ownership resorts, develops real estate properties into resort properties for sale, and provides consumer financing to purchasers of vacation ownership interests and land parcels through its wholly owned subsidiary, Leisure Homes Corporation. Leisure Industries is headquartered in Las Vegas, Nevada and has properties in Nevada, New Jersey, Colorado, Florida and Hawaii. The Company also has announced that it entered into a letter of intent to acquire Raintree Resorts International, a leading developer, marketer and operator of luxury, upscale vacation ownership resorts in the United States, Mexico and Canada in phases beginning with the acquisition of Raintree Resorts’ three properties in North America.