New Costa Rica Resort Project Planned

Thunderbird Resorts, Inc. announces the completion of the acquisition of land for a new resort project in Costa Rica that will include a hotel/spa with casino and entertainment center.

The 'Thunderbird Resorts Tres Rios' project encompasses approximately 11 hectares of scenic land located in the "under-served" eastern suburbs of Costa Rica's capital city, San Jose. The development theme for the entire project is consistent with the natural beauty of the area. The property is one of the only available locations in the area zoned for tourism development and has excellent access by way of Costa Rica's main east-west highway. Across this highway from the project site is a new highly successful 'super mall' called "Terramall".

The Thunderbird Resorts Tres Rios project will target the eastern San Jose population of approximately 500,000 middle and upper-class residents who reside in the city of La Union and throughout the province of Cartago. The Cartago area is one of the important tourist destinations for Costa Rica's more than 1.5 million annual visitors, who spend over $1.5 billion annually. Currently, none of these markets are served by a resort hotel, convention center or casino product.

Thunderbird Tres Rios will be anchored by a luxury resort hotel, a Las Vegas style casino and entertainment center, a world-class convention center, a world-class spa and health club, commercial real estate and a private residential community.

The Tres Rios development conforms with Thunderbird's mission to become the leading recreational property developer and operator in each of its markets, whose resorts are anchored by casinos. Thunderbird Resorts, Inc. is an owner and manager of international gaming facilities.

Additional information about the Company is available on its World Wide Web site

2006-08-09