Grand Traverse Band Indians Building $80 mil Casino Resort

Near Traverse City, Michigan

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. October 14, 2008

PESHAWBESTOWN, MI, September 19, 2006. Ron Olson, CEO of Grand Traverse Resort & Casinos, which is owned and operated by the Grand Traverse Band of Ottawa and Chippewa Indians, has announced plans to develop a new casino resort at the site of the current Turtle Creek Casino in Williamsburg, near Traverse City, Mich.

An October groundbreaking is planned for the 347,000-square-foot casino resort, which will include a 120-room state-of-the-art hotel, 64,000-square- foot gaming floor, concert/entertainment venues, restaurants, and shops.

The architectural firm of Walsh Bishop in Minneapolis, Minn. was hired to design the new casino resort. Walsh Bishop designs of note include the 300,000-square-foot Isleta Resort & Casino in Albuquerque, N.M. and the 370,000-square-foot Mystic Lake Casino in Prior Lake, Minn. Financing will be through National City Bank and PCL Construction Services, Inc. in Burnsville, Minn. was hired to oversee construction.

Tribal Chairman Robert Kewaygoshkum stated, "This is an exciting time for the Grand Traverse Band of Ottawa and Chippewa Indians. We are very proud of the success of our businesses and their financial benefits for our people and the economy of the Grand Traverse region. Our sustained success is allowing us to further invest in the tourism infrastructure of the Traverse City area."

Olson stated, "Our new casino resort will be unique to the Midwest in its design and business model. We will provide an enjoyable and secure gaming experience that our casinos have become renowned for, while bringing Midwest casino excitement and entertainment to a completely new level. It will be a truly outstanding experience for Northern Michigan residents and an exceptionally attractive vacation destination for guests from other regions."

During construction of the new casino resort, the Tribe's existing Turtle Creek Casino will remain in operation and will close when the new

casino resort opens. The Grand Traverse Band also plans to continue owning and operating Leelanau Sands Casino in Peshawbestown and Grand Traverse Resort & Spa in Acme.

Grand Traverse Resort & Casinos is the Economic Development Corporation of the Grand Traverse Band of Ottawa and Chippewa Indians, which owns and operates Leelanau Sands Casino in Peshawbestown and Turtle Creek Casino in Williamsburg. The Grand Traverse Band has been in the casino gaming business since 1984, and owns and operates other economic development ventures including Grand Traverse Resort & Spa, four miles west of Turtle Creek Casino. In addition, the Tribe also owns and operates one hotel, several restaurants, a conference center, and a convenience store.

In fiscal 2005, (October 2004 - September 2005), the Grand Traverse Band's economic impact included nearly $115.5 million in gross revenues, over $33 million in combined payroll, $5 million in federal, state and local taxes, and business relationships with over 400 vendors in the region. In addition, since 1994, the Grand Traverse Band has paid out $18 million in 8 percent state government revenue sharing payments and $17 million in 2 percent revenue sharing payments to local governments.