ResortQuest International Announces John McConomy as Senior Vice President and General Counsel

MEMPHIS, Tenn.--ResortQuest International, Inc. RZT, the nation's leading manager and marketer of vacation condominiums, homes and villas, announced today the appointment of John W. McConomy as its new Senior Vice President and General Counsel. McConomy will join the Company effective May 19, 2003 in Destin, Florida, the new location of its corporate office.

McConomy will oversee all the legal affairs of the company and report directly to CEO and President, Jim Olin. Ronald Halpern, ResortQuest's current general counsel, has chosen to remain in Memphis when the company relocates to Florida this June. He will continue as a legal consultant for the company.

McConomy brings with him over 20 years of in-house legal experience. Prior to joining ResortQuest, McConomy was the Executive Vice President, General Counsel and Secretary for Storage USA, Inc., which, until its acquisition by GE Capital in 2002, was the nation's second largest publicly-held self-storage REIT.

"John brings a wealth of legal experience to our Company. We are pleased to have a person of McConomy's caliber and background experience in the hospitality industry joining our management team in Destin," said ResortQuest CEO and President, Jim Olin. "We are also delighted that Ron Halpern will continue on as a part of our legal team. He has been a great asset, and an important part of the company."

Before joining Storage USA, McConomy spent 19 years on Harrah's Entertainment, Inc.'s legal team as Vice President and Associate General Counsel, where he was responsible for legal matters relating to the company's multi-state gaming operations and information technology operations. McConomy began his career in private practice in Memphis in 1975.

McConomy received his Bachelor of Arts from Muhlenberg College in Allentown, Pennsylvania, and his Juris Doctor from the University of Memphis.

About ResortQuest International - Memphis-based ResortQuest International RZT, the first brand name and "real-time" online booking service (www.resortquest.com) in vacation condominium, home and villa rentals and sales, provides a one-stop resource for more than 50 premier resort destinations in the U.S. and Canada. ResortQuest is the nation's leading vacation rental property management company, based on a portfolio of more than 20,000 vacation rental properties with a combined real estate value estimated in excess of $7.0 billion. All of ResortQuest's vacation rental accommodations include spacious, well-appointed condos, homes or villas. ResortQuest also manages a portfolio of hotel properties in Florida and Hawaii. To make reservations or view special offers, visit www.resortquest.com or call 800-GO-RELAX.

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