Silverleaf Resorts, Inc. Announces Sale of Undeveloped Land

Silverleaf Resorts, Inc. (AMEX:SVL) today announced the
September 29, 2005 sale of undeveloped land held for sale in
Pennsylvania for $6.9 million. The sale will result in a gain of
approximately $3.6 million to the Company during the quarter ended
September 30, 2005. The proceeds of the sale will be used to reduce
senior debt.
   Based in Dallas, Texas, Silverleaf Resorts, Inc. currently owns
and operates 13 timeshare resorts in various stages of development.
Silverleaf Resorts offer a wide array of country club-like amenities,
such as golf, swimming, horseback riding, boating, and many organized
activities for children and adults.
   This release contains certain forward-looking statements that
involve risks and uncertainties and actual results may differ
materially from those anticipated. The Company is subject to specific
risks associated with the timeshare industry, the regulatory
environment, and various economic factors. These risks and others are
more fully discussed under the heading "Cautionary Statements" in the
Company's reports filed with the Securities and Exchange Commission,
including the Company's 2003 Annual Report on Form 10-K (pages 22
through 20 thereof) filed on March 29, 2004.