Details Of New Resort Management Company Unveiled Former Allegro Resorts Founders Lead New Venture Santo Domingo, Dominican Republic, January 24, 2003 - An international group of investors has joined together to announce the formation of Allure Hotels and Resorts, a company specializing in the management and marketing of global resort properties. Allure Hotels and Resorts is a joint venture of skilled businessmen from diverse backgrounds, most especially the tourism, real estate investment and aviation industries, and along with proven track records bring long-standing relationships and investment capital. Three companies are embarking on the resort management project that will re-brand the all-inclusive model with a direct focus on the North American market. Hotel owners will benefit by the Group's access to capital, expertise and solid and diverse distribution channels, including strategic relationships with North American premier tour operators, wholesalers and incentive houses. Allure's active management group is composed of individuals who have worked extensively in the hotel industry throughout their careers. Alberto del Pino, founder and former chairman of the board of Allegro Resorts Corporation leads the new company as CEO; and Benny Guevara, founder and former chief executive officer of Allegro Resorts serves as president; and George Spence, former vice president for corporate development of Occidental Hotels & Resorts who previously served as Allegro's Vice President and CFO, serves as Vice President of Finance and Development. Joining the management group as equity partners in the venture are Sammons Enterprises, Inc. and Eiger Partners, L.P. Sammons Enterprises, Inc. is a multi-faceted holding company that manages a diversified portfolio of investments, which range from life insurance to bottled water companies. Headquartered in Dallas, Texas, with more than 3,000 employees nationwide and assets in excess of $15 billion, Sammons ranks among the largest privately owned companies in the United States. Eiger Partners L.P., has assets in excess of $1.5 billion under management with the Eiger Fund II, which makes investments in real estate assets, real estate companies, and real estate debt and equity securities. The Fund principals include: C. Todd Miller, Paul E. Rowsey, III, David M. Jacobs, and William S. Buchanan, Rosewood Property Company, a wholly-owned subsidiary of The Rosewood Corporation, a diversified investment company, and an entity affiliated with Sammons Enterprises, Inc. In addition to the Principals, Rosewood and Sammons, other high net worth individuals, families and public and private corporations are investors in the Fund. According to Allure's CEO Alberto del Pino, "My partners and I feel there is a void in the marketplace for a management company with experience in running profitable operations, and the ability to tap meaningful partnerships and access to investors and capital pools. We're excited about the opportunity to build a new global resort company to serve the North American market." "We intend to develop a luxury product that does not currently exist within the all-inclusive market," said Benny Guevara, president of Allure Hotels & Resorts. "The service culture of our new resort company will be imported from Asia. We believe that by combining Asia's ancient service traditions with the foremost elements of Mexican and Caribbean hospitality, we are truly creating a unique environment that caters to exactly what the upscale U.S. traveler and incentive market seeks." Allure Hotels & Resorts has offices in Miami and the Dominican Republic. For more information about Allure's management and marketing services, call (305) 448-7457 or visit www./.