Trump Plans Complex In Panama

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. October 14, 2008

NEW YORK, NY, April 26, 2006. The Trump Organization and K Group, a premier high-end resort developer in Panama, have entered into a partnership to develop Trump Ocean Club, international Hotel & Tower, in Panama City, Panama. The project was announced by Mr. Donald J. Trump and Mr. Roger Khafif, President, K Group. Trump Ocean Club will be the new benchmark in high-end real estate in Panama.

The 1.8 million square foot, $220 million project, will boast a 65-story condominium tower with approximately 300 hotel condominium units and an additional 500 condominium units, an International Casino, and Private Beach Club on Contadora Island. The Trump Ocean Club will also feature other amenities including a Yacht Club and Pier, world-class wellness spa, state-of-the-art gym, pool deck, full-service meeting and event spaces, and a business center.

Donald J. Trump said, 'With this development we will set a new standard of luxury in Panama. The Trump Ocean Club, International Hotel & Tower, will be a magnificent and distinctive contribution to Panama City, one of Latin America's most dynamic cities. With a shared appreciation of Panama and for developing high-end properties, I look forward to working with Roger Khafif of K Group and his partners on this exciting project.'

Roger Khafif commented, 'The Trump Organization is committed to realizing in Trump Ocean Club, a one-of-a-kind, best in class, destination for living, working, boating, and shopping in Panama. No other property in this rapidly growing and desirable region can compete with the Trump signature brand and their level of world-class amenities and tenants.

'This is the first time that The Trump Organization has invested in real estate development in Central America, highlighting the present level of confidence Mr. Trump has in Panama, our budding economy and our first-class developments. We look forward to working with The Trump Organization - a world-class company which shares our commitment to excellence."

Donald J. Trump added, 'I am excited to bring the prestige of the Trump Organization to this exceptional destination project. We expect Trump Ocean Club, Panama, to reach the success and renowned status of my other luxury projects, including the Palm Trump International Hotel and Tower in Dubai, Trump International Hotel & Tower, Chicago and Trump Tower, among others.'

The Trump Ocean Club will be unique for the nation of Panama and will be built consistent with the highest quality of construction and luxury amenities and detail that is required by and associated with the Trump name. Other prestigious and experienced partners involved in this ambitious project include, the Colombian commercializing company Espacios Urbanos S.A. and the Colombian construction firm Arias Serna y Saravia S.A.

The Trump Ocean Club, Panama, is being built on a beachfront lot with majestic views of the Pacific Ocean and the Panama Bay, in the premier and upscale district of Punta Pacifica. Punta Pacifica is one of the newest and most exclusive areas of Panama City, bordering the financial center and the residential area of Punta Paitilla, on land that was reclaimed from the sea. It is linked directly to the rest of the city by the new highway called 'Corredor Sur' that guarantees accessibility to any area, including the airport, in less than 15 minutes. The project is expected to be completed by 2009.

The Trump Ocean Club, Panama, brings together, under a Club concept, various harmonizing elements, creating an environment to suit the modern 'stress-free' lifestyle, complemented further by gourmet restaurants, top notch entertainment venues, exclusive boutiques, and luxury retail shops. It offers diverse living configurations for even the most discerning client. It is ideal for the executive, resident or traveler that requires a residence in Panama, close to the financial and commercial sectors, where all his or her needs will be satisfied. It also suits the lifestyle of a native or world traveler, who seeks the convenience of a modern city, within a luxurious and gratifying region that offers a high living standard. It is also an excellent solution for the foreigner that looks for a second home or for a place to retire to, in a tropical paradise that offers more affordable prices than those that can be found elsewhere.

Residents of Trump Ocean Club, Panama will be able to enjoy all the Club services that the development offers, including maid and laundry service, the only 24-hour Yacht Club in Panama and access to over 1700 parking spaces, among other services.

Panama is rated as the number one place in the Americas for retirement by Modern Maturity magazine and the number one place in the world by International Living. Conde Nast Traveler selected Panama as one of the six best places for a second home in the Americas. Panama is considered one of the safest countries in the world with the highest rating for tourist safety, and its proximity to the U.S. means anyone can book direct flights from Panama to seven major U.S. cities. Panama is an extraordinarily beautiful country with a wide variety of residential venues including mountain, beach and city communities. Panama's cost of living is a fraction of the United States, with medical facilities on par with the United States.

Mr. Trump, assisted by Donald Trump Jr. and Ivanka Trump, negotiated the transaction with Mr. Roger Khafif, who was represented by Marvin Traub Associates, Inc. and Greenberg Traurig LLP.