Benchmark to Manage the Naples Bay Resort

Four Star Mixed-use Destination Resort Being Constructed in Naples, Florida

. October 14, 2008

HOUSTON, TX, June 22, 2006. Benchmark Hospitality International, which manages 31 award-winning resorts, conference centers and hotels in the United States and Japan, announces the addition to its management portfolio of the Naples Bay Resort, a new project under construction in Naples, Florida. Burt Cabanas, chairman and chief executive officer, made the announcement.

"We welcome Naples Bay Resort to the Benchmark Hospitality family," said Mr. Cabanas. "This remarkable destination resort is Benchmark's first condominium project on Florida's west coast. We are excited to be part of this multi-faceted resort and thankful that Antaramian Development Company and Ersa Grae Corporation made us part of their team."

Upon opening in September of 2007, Naples Bay Resort (www.naplesbayresort.com) will be a Four Star, 193-key destination resort. The property will feature an 85-key hotel with 65 condominium suites, 108 spacious resort cottages, and a contemporary gourmet restaurant and bar offering magnificent views of the bay. Thirty townhomes and flats will round out the residential mix at the resort. The property will provide 5,000 square feet of comprehensive meeting and special event space serviced by Benchmark's signature Conference Concierge.

Recreationally, Naples Bay will feature a 97-slip marina, comprehensive fitness facilities with a Pilates Studio, a Peter Burwash International tennis center and a masterfully designed, foliage-laden resort pool complex with a meandering lazy river pool, lap pool, children's pool, expansive sundeck and poolside cabanas. Championship golf will be available nearby at several well known golf courses.

Adding to the resort experience will be a retail promenade, located adjacent to the marina. Featured in this space will be high-end specialty retail, entertainment and casual dining opportunities.

The resort will also offer The Yacht Club and Captain's Lounge, as well as an amenity-rich residents' club, The Club at Naples Bay Resort, with a specially-designed clubhouse and up to 600 members. The two clubs will be private. Both members and resort guests will have access to Keewaydin Island, a private barrier island featuring a beach club.

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