Cable Beach Resorts to Undergo $85+ million in Capital Improvements

Ongoing Renovations to the Wyndham Nassau Resort and Radisson Cable Beach Resort, and a Property Re-

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. October 14, 2008

PLANTATION, FL, February 3, 2006. Cable Beach Resorts announced a dramatic capital investment program exceeding $85 million for its Radisson and Wyndham properties. The plan, which includes $15 million in property renovations announced last year, consists of a complete renovation and re-branding of the 691-room Radisson; and extensive renovations and upgrades to the Wyndham.

Prior to the May 2005 acquisition of the Wyndham, Radisson and Nassau Beach hotels by Baha Mar Resorts Ltd., little had been done over the years to maintain the properties, which are located adjacent to one another along 3,000 feet of Nassau's largest and most beautiful beach. Over the last eight months however, the properties' new owners have engaged in an aggressive plan that has already led to the complete renovation of the Wyndham's 35,000 square foot Crystal Palace Casino, operational upgrades allowing guests to enjoy cross-property amenity and service privileges, and improvements throughout many of the restaurants, lounges and other public areas at the three hotels.

To ensure a smooth and uninterrupted transition process with minimal inconvenience to guests, the improvement plan will be conducted in phases. The scope of the plan calls for a complete $62 million renovation of the 691-room Radisson, which will be re-branded as a Sheraton and managed by Starwood Hotels & Resorts Worldwide when it re-opens. The Radisson renovation will occur in two phases, closing one 346-room wing of the hotel for approximately four months, before commencing work on the second wing.

Room and property-wide renovations totaling $27 million are already underway at the Wyndham, and call for the complete renovation of the 257-room C Tower, and considerable upgrades to the 301-rooms in the H and M Towers, and across the Wyndham's restaurants, exterior, and IT systems. The Wyndham towers will be renovated on a floor-by-floor basis, with no more than 40 guest rooms out of service at a time to minimize guest inconvenience. Work on the C Tower's 224 standard rooms is expected to be completed by June 2006. The C Tower's remaining 33 suites, and H and M Tower rooms will be renovated during the off season and completed by the end of the year.

"It has been our primary goal and commitment since acquiring the Wyndham, Radisson and Nassau Beach hotels to raise service standards and improve the guest experience across all three properties," said Michael W. Sansbury, Executive Vice President of Operations, Baha Mar Resorts Ltd. and Chief Operating Officer, Cable Beach Resorts & Crystal Palace Casino. "Guests can already enjoy the renovated Crystal Palace Casino, and other property improvements, and there is much more to come as we continue to consolidate the three hotels into one resort complex."

Cable Beach Resorts include the Wyndham, Radisson and Nassau Beach resorts where guests can enjoy activities and amenity entitlements at all three properties no matter where they stay. Together, the resorts offer 1,941 guest rooms and suites, most with incredible ocean views; more than 20 restaurants and lounges; a complete tennis facility; an 18-hole golf course; over a half mile of Nassau's best beach; and a variety of water sport activities.

In addition, Cable Beach Resorts is conveniently located within 15 minutes of Nassau International Airport, and is easily accessible by air through a number of domestic and international carriers.For reservations and additional information, call Cable Beach Resorts at 1-800-222-7466 or visit www.CableBeachResorts.com. The site features information on all three resorts, including direct links to each hotel for additional property information; and the ability to book online.