Cap Cana Joins Forces With Ritz-Carlton

To Develop Resort and Residential Project in Dominican Republic

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. October 14, 2008

SANTO DOMINGO, Dominican Republic, September 17, 2007. Luxury resort community Cap Cana, S.A. is proud to announce a two-fold partnership with global powerhouse The Ritz-Carlton Hotel Company, L.L.C., to develop a world class luxury resort, The Ritz-Carlton, Cap Cana, and a residential venture known as the Residences at The Ritz-Carlton, Cap Cana. The 220-room resort will compliment Cap Cana's existing developments and will feature a range of luxury amenities, including a lavish 16,000 square-foot spa, a private beach club, and five restaurants and lounges. The Ritz-Carlton, Cap Cana and the 194-privately owned beachfront and golf Residences at The Ritz-Carlton, Cap Cana are scheduled to open in early 2010 and are part of a two-phase $1 billion endeavor (real estate sales and construction).

Spanning 30,000 acres of prime Caribbean waterfront, Cap Cana is ideally situated on 3.4 miles of virgin beaches, the Ritz-Carlton mixed-use property taking center stage on a stunning two-mile stretch of Juanillo beach. To capture the true beauty of the Dominican Republic's most scenic beach, The Ritz-Carlton, Cap Cana plans to enhance all rooms with spacious balconies and ocean views, incorporating island materials and an abundance of natural light whenever possible. As an added bonus, the resort will include 8,000 square feet of meeting space (including a 5,800 square-foot ballroom), offering individuals and groups a range of choices for every occasion, from corporate meetings to destination weddings and social events.

"We are proud to welcome Ritz-Carlton, the most recognized luxury brand in the world, to the Cap Cana's family, as both brands share the same impeccable service philosophy and core family values," said Dr. Ricardo Hazoury, president of Cap Cana's Board of Directors. "The Ritz-Carlton, Cap Cana represents a new paradise for the Dominican tourism industry. Together, we will develop a product that integrates the tropical style and design of Cap Cana into the beautiful natural surroundings, with the key focus on the spectacular Juanillo beach and the magnificent views of the Caribbean Sea," he added.

J. W. Marriott Jr., chairman and chief executive officer of Marriott International, expressed "Cap Cana has envisioned a bold luxury tourism and real estate development project that promises to be one of the most exciting new destinations in the Caribbean. We are excited that our Ritz-Carlton brand will be represented at Cap Cana and are hopeful that one or more of our other hotel brands will also fit in with Cap Cana's plans for this world class destination."

Similarly, Simon F. Cooper, president and chief operating officer of The Ritz-Carlton Hotel Company, states that "We are extremely pleased to partner with ownership, Cap Cana, S.A., to develop a lifestyle resort and residential community in this unique tourism and real estate project, located on the eastern-most part of the Dominican Republic. With some of the finest beaches in the Caribbean, an abundance of golf courses and other recreational facilities, this project will also offer our guests and owners a collection of designer shops, gourmet restaurants, and a significant area devoted to ecological preservation. It will attract affluent and sophisticated travelers from around the world, looking for leisure or group travel destinations that are truly exceptional."

"This is an extraordinary opportunity to adorn the paradise-like beach of Juanillo with a world class architectural project focused on excellence, that harmoniously combines sophisticated spaces and an authentic tropical ambiance," said Alejandro Acebal, member of Cap Cana's architectural committee.