SOURCE: Marinas International, Inc.

January 24, 2006 08:30 ET

Marinas International Inc. Announces Completion of Initial Assessment for 25 Berth Marina

ORLANDO, FL -- (MARKET WIRE) -- January 24, 2006 -- Marinas International, Inc. (OTC: MNSI) is pleased to announce the completion of site surveys for all possible marina locations in St. Vincent. The company has determined the proper location for its first Marina development and has begun plans to secure the selected location.

The 25 berth marina will be located in St. Vincent and is expected to take one year of construction time for completion. The company estimates a construction cost of $10 million and anticipates strong pre-sale revenues well beyond development cost.

About Marinas International, Inc.

Marinas International, Inc. is a company focusing on upscale real estate development in Europe, the Caribbean and select areas of North America. Its emphasis is on building marinas for large yachts, being 160 feet and above, and developing and pre-selling real estate, whether condos or villas, to the yacht owners. The benefits of our company offerings are multi-fold. The business is a recession-proof industry and many yacht owners have already expressed a strong interest in purchasing berths in the marinas. Thus, appropriate real estate will be developed to meet their needs.

Forward-looking statements in this release are made pursuant to the 'safe harbor' provisions of the Private Securities Litigation reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, but not limited to, continued acceptance of the company's products and services, competition, new products and technological changes, as well as any and all 'other risks' associated with business.

Contact Information

  • Contact:
    Jonathan McPherson
    10151 University Blvd.
    Phone: 212-561-0762
    Email: Email Contact