SOURCE: Azur International, Inc.

November 09, 2006 14:30 ET

Azur Announces $50 Million Financing Commitment for Subsidiary

FT. LAUDERDALE, FL -- (MARKET WIRE) -- November 9, 2006 -- Azur International, Inc. (PINKSHEETS: AZRI), a luxury residential, hotel and resort development company, announced today that Azur Holdings, Inc., a majority owned subsidiary, has entered into a binding agreement with Nexxus One Capital Trust of Switzerland A.G. (Nexxus) for up to $50 million of financing. Under an engagement agreement with Azur Holdings, Nexxus has committed up to $50 million of new financing for Azur Holdings' Shell Landing Resort property or an amount equal to 80% of the newly appraised value. A new appraisal has been ordered and is expected in 4 - 6 weeks. Should the initial financing amount be less than $50,000,000, Azur Holdings can require Nexxus, for up to two years, to extend additional financing based upon updated appraisals. The financing will come in the form of a Senior Secured Redeemable Note purchased by a banking syndicate led by Nexxus One Capital.

Funding will be used for the refinancing and restructuring of the debt and equity of Shell Landing Development as well as development and working capital. Closing is scheduled to occur within 10 days of a new MAI appraisal of Shell Landing Development or no later than December 29th, 2006.

About Shell Landing Development

Azur Shell Landing Resort Development is a master planned golf course community on approximately 1,400 acres. The Shell Landing golf course is a Davis Love III Signature design and has received numerous accolades.

About Azur International, Inc.

Azur International, Inc. is an international real estate development company based in Fort Lauderdale, Florida. The company currently develops and markets luxury residential and resort properties. Azur has several real estate projects under development and consideration, including the development of luxury hotels and resorts, domestically and internationally, and land purchases in strategic areas that can provide inventory for future development or sale. For additional information about Azur International, Inc., go to

The Private Securities Litigation Reform Act of 1995 may provide a "safe harbor" for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements related to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of Azur International, Inc. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, and domestic and global economic conditions.

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