THE CORPORATE LIBRARY

Related Party Transactions and Outside Related Director Information

Bluegreen Corporation (BXG)

4/19/2006 Proxy Information

Mr. Levan also serves as Chairman and Chief Executive Officer of BFC Financial Corporation and Levitt Corporation. BFC is a publicly held savings bank holding company whose principal assets are its interests in BankAtlantic Bancorp, Inc. and Levitt Corporation. Levitt own 31.2% of BXG shares.

During fiscal 2000, we advanced Mr. Donovan $180,000 as a home equity loan, which bears interest at the prime lending rate (which was 5.25% per annum at December 31, 2005). Mr. Donovan delivered a new $125,045 promissory note representing the outstanding balance on this loan plus all accrued interest as of July 1, 2002. Mr. Donovan is paying the balance of this new promissory note plus interest at the prime lending rate (adjusted annually) through payroll deductions over 60 months, which commenced on August 1, 2002. The outstanding balance on this loan as of December 31, 2005 was approximately $41,870.

Any existing loans to our officers and employees other than in the ordinary course of business have been approved by a majority of disinterested, non-management directors. It is also our policy that any transaction with an employee, officer, director or principal shareholder, or affiliate of any of them, involving in excess of $10,000 (other than in the ordinary course of our business) shall be approved by a majority vote of disinterested directors, and any such transaction will be on terms no less favorable to us than those which could reasonably be obtained from an independent third party. In accordance with applicable law and regulations, we will not make any new loans to, or advances on behalf of, our executive officers nor will we modify in any respect any currently outstanding loan to any executive officer.

During the first six months of 2005, the Company performed risk management services for Levitt, which owns a 31.2% beneficial interest in the Company, and its affiliates. The Company received approximately $218,000 from Levitt and its affiliates for such services. Subsequent to July 1, 2005, the Company became obligated to pay affiliates of Levitt approximately $101,000 relating to risk management services provided to the Company. During 2005 the Company also received approximately $81,000 from Levitt for design services provided to Levitt by the Company.