PROGRESS AT PORT LOUIS GRENADA

St. George, May 2, 2008 - Peter de Savary, chairman and founder of Port Louis, Grenada has agreed to an investment development plan with Park Town Capital PLC, London, England, who will develop up to 90 luxury villas and apartments -- each between 4,000 and 6,000 square feet.

The properties will overlook the vibrant Port Louis Village, the Caribbean Sea and the Camper & Nicholsons super yacht marina. The marina, now open and set for completion this year, offers over 300 berths for yachts of up to 90m and a draft of 7m.

Park Town Capital PLC (PTC) in conjunction with the international firm of Cushman & Wakefield Residential will develop luxury properties and have appointed Yoo, the international design, branding and Development Company co-founded by John Hitchcox and Philippe Starck to carry out the designs.

Port Louis residents & visitors will benefit from luxury hotel services, duty free shopping, signature bars and restaurants, an associated golf course, as well as an FBO facility at Point Salines International Airport.

Peter de Savary is quoted as saying, "I am delighted to introduce yet another top international investor/developer group to Grenada. Port Louis and Grenada will benefit greatly from the experience and plans Park Town Capital will deliver to this world-class site. This is an exciting time for Port Louis and the people of Grenada. This latest development will allow Port Louis to evolve quickly and with true quality. We are in the process of talking to a number of other investors /developers who we hope to bring together for other elements of Port Louis thereby having a consortium of specialists to make this a truly world-class destination as quickly as possible. The opportunities for Grenadians will be immense as the project gains momentum."

Daniel Mc Gowan, Chairman, Park Town Capital PLC, said: "Port Louis is an idyllic location in one of the most beautiful natural harbours in the world. We are delighted to be working in partnership with Peter de Savary and leading design company Yoo. Port Louis is a demonstration of our global ambitions following our projects in Europe and the Middle East."

Duncan Wilson, Development Director, Park Town Capital PLC, said: "Not only will the Port Louis development create the Caribbean equivalent of St. Tropez, Portofino, St. Barth’s and Porto Cervo; it will also create a major contribution to the economy of Grenada over the long term. We believe that a development of this scale and quality will be the catalyst to establish Grenada as the most exclusive and desirable tourist location in the West Indies."

Nikki Beach, the internationally renowned hotelier and restaurateur, in partnership with the de Savary Group also plan to construct a 6 star resort/hotel/club with up to 180 rooms & suites within Port Louis.