US$12 Million Rebuilding of Spice Island Beach Resort, Grenada, Continues on Time for Dec. 15, 2005

Resort Anticipates Strong Winter Season Based on Current Level of Bookings

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. October 14, 2008

GRENADA, October 6, 2005. The US$12 million rebuilding project at Spice Island Beach Resort is continuing on a steady pace for the property's re-opening on Dec. 15, 2005, and based on bookings already received, Spice is preparing for what is shaping up to be a very strong winter season. Spice Island Beach Resort has been closed since last fall following damages sustained from Hurricane Ivan.

"We might have been closed for a year, but fortunately we've not escaped the minds of travel agents and consumers who are booking us with confidence for the winter 2005-2006 season," said Sir Royston O. Hopkin, KCMG, owner and chairman of Spice Island Beach Resort.

"Once we re-open and introduce our chic, newly-restyled five-star product, we're confident all our advance bookers will be astounded at the superior level of quality, amenities and impeccable service encompassing Spice," he added.

Following is the most recent status report on the rebuilding as of mid-September 2005:

Seagrape Suites: Overall, the Seagrape Suites are 65 percent complete. Roofing is finished on all nine buildings housing these elegant accommodations. Tiling of the patios, bedrooms and bathrooms and installation of sliding glass doors and windows is steadily progressing.

Oleander Oceanview/Garden Suites (in the two-story building): The following has been completed in all the units in this section: repainting, roofing and tiling in the bedrooms, bathrooms and patios. Work is currently being done on the doors and interior of the units.

Anthurium Pool Suites: All tiling, including pool deck tile, is complete. Work continues on the interior of the accommodations.

Luxury Almond Suites: External painting of these suites is complete. Tiling and other interior work is progressing at a good pace.

Royal Collection: External painting has been finished, and only minor refurbishments, re-painting and garden work remains.

Main Building: Roofing is 95 percent complete. Electrical and kitchen re-wiring has been done. Tiling and painting continues.

Janissa's Spa: The spa is 40 percent complete.

Back of House/Administration: This area is 90 percent complete with all roofing, painting and installation of doors and windows done.

When Spice Island Beach Resort in Grenada re-opens on Dec. 15, 2005, it will introduce an unmatched level of accommodations and unprecedented brand of chic style and timeless luxury. Spice Island Beach Resort will feature 64 elegantly-appointed rooms (two less than its previous room count because two new, super-spacious suites being built will each take the place of two former suites), the full-service Janissa's Spa, a fitness center, an open-air, beachside gourmet restaurant, the Sea & Surf Bar for refreshing cocktails throughout the day, a central swimming pool and jacuzzi, a tennis court, the Nutmeg Pod children's activity center, the Gatsby Boutique and more.