SOURCE: Azur Holdings, Inc.

November 08, 2006 09:56 ET

Azur Holdings, Inc. Enters Into $50 Million Financing Commitment

FT. LAUDERDALE, FL -- (MARKET WIRE) -- November 8, 2006 -- Azur Holdings, Inc. (OTCBB: AZHI), (FRANKFURT: HCPB), a luxury residential, hotel and resort development company, announced today it 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, 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. www.ShellLanding.com

About Azur Holdings, Inc.

Azur Holdings, Inc., based in Fort Lauderdale, Florida, is a publicly traded company that currently develops and markets luxury residential and resort properties. Additionally, the Company has several real estate projects under consideration, including the purchase and development of luxury hotels and resorts, domestically and internationally, and land purchases in strategic areas that can provide inventory for future development. For additional information about Azur Holdings, Inc., go to www.AzurHoldings.com.

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 Holdings, 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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