out a resolution regarding financial issues.

The meeting will be the second involving Tourism Minister David Dodwell, timeshare owners and developer Alistair Woolf.

Yesterday the three parties met to try to resolve St. George's Club's financial problems which have caused the developer to increase maintenance fees, impose a special assessment and explore a possible sale of the property.

After four hours of discussion, Mr. Dodwell said the parties were able to "explore all of the issues'' in the dispute.

"A number of directional possibilities were reviewed which, I firmly believe, could lead to a better understanding and ultimately a resolution that would be acceptable, not only to the members of the Club, but equally to the developer.'' Mr. Dodwell said although progress was made during the talks, to resolve the issues will require a "great deal of dialogue''.

In a recent newsletter, Mr. Woolf informed the Club's 2,900 members that because of a "cash flow crisis'' members would have to pay an extra fee this month to cover the current total operating deficit.

Mr. Woolf also proposed that the members' annual maintenance fee would have to be hiked 55 percent to cover the losses. Timeshare owners oppose the increases.

Members were also told that negotiations were in progress to sell the Club to US-timeshare developer Great Vacations Resorts.

Mr. Dodwell last night said he would be in a better position to reveal the status of the talks after this morning's meeting.

BUSINESS BUC