Silverleaf Resorts, Inc. Joins Russell Microcap Index

Silverleaf Resorts, Inc. (AMEX:SVL) today announced that
it has been included in the final membership list for the Russell
Microcap(TM) Index when Russell Investment Group reconstituted its
family of U.S. indexes on June 30, 2006.
   Russell indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for both
passive and active investment strategies. According to Russell, an
industry-leading $3.8 trillion in assets currently are benchmarked to
their indices.
   Russell, a global leader in multi-manager investment services,
provides investment products and services in 44 countries. Russell
manages more than $167 billion in assets and advises clients worldwide
representing $2.4 trillion. Founded in 1936, Russell is a subsidiary
of Northwestern Mutual and is headquartered in Tacoma, Wash., with
additional offices in New York, Toronto, London, Paris, Singapore,
Sydney, Auckland and Tokyo.
   Based in Dallas, Texas, Silverleaf Resorts, Inc. owns and operates
timeshare resorts with a wide array of country club-like amenities,
such as golf, clubhouses, swimming, tennis, boating, and many
organized activities for children and adults. For additional
information, please visit www.silverleafresorts.com.

   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 "Risk Factors" in the Company's
reports filed with the Securities and Exchange Commission, including
the Company's 2005 Annual Report on Form 10-K (pages 22 through 30
thereof) filed on March 17, 2006.

   For more information or to visit our website, click here:
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