SAN ANTONIO, Dec. 8, 2004 (PRIMEZONE) -- During the past two weeks, Jaguar Resorts, Inc. executives have continued due diligence and evaluations to establish a new Jaguar Resort and Spa in the beautiful Pacific Coast Guanacoste Province in Costa Rica. A few weeks ago the company's President, Mr. William J. Gallagher, held meetings in Mexico City with potential joint venture partners for a Guanacoste Costa Rica Project.
In addition the company's Vice President, Mr. Benjamin Gallagher, is currently in Costa Rica and continues to conduct due diligence for the company to be in position to take advantage of the current substantial interest high-end travelers have in Costa Rica; especially on the Pacific Coast.
Mr Gallagher has stated, "The Four Seasons has recently opened a five-star hotel in our area of interest and other well-known, high-end hotel chains are considering moving into this region. We intend to be one of the important players here in Costa Rica. There are not enough high-end accommodations to satisfy the current travel velocity that is directed towards Costa Rica for 2005."
Recently, Jaguar Resorts received a letter of intent from a super-luxury resort chain -- in combination with a successful marketing organization -- to participate in the joint venture with Jaguar Resorts developing a condominium-hotel and fractional residence club in the State of Guanacoste, Costa Rica near Papagayo.
The Private Securities Litigation Reform Act of 1995 (the "Act") provides a safe harbor for forward-looking statements made by the Company or on its behalf. All statements which address actual results could differ materially from those expressed or implied in forward-looking statements. Important factors that could cause the actual results of operations or financial condition of the Company to differ include, but are not necessarily limited to, the Company's operating performance, events, or developments that the Company expects or anticipates may occur in the future are forward-looking statements. These statements are made on the basis of management's views and assumptions; as a result, there can be no assurance that management's expectations will necessarily come to pass. Management cautions that ability to attract clients and generate business; a decline in the Company's financial ratings; the competitive environment; the Company's ability to raise sufficient capital to meet the collateral requirements associated with its current business and to fund the Company's continuing operations; and changes in market conditions.