SOURCE: Chilco River Holdings Inc.

August 16, 2007 15:25 ET

Chilco River Holdings, Inc. Responds to Earthquake

LIMA, PERU--(Marketwire - August 16, 2007) - Chilco River Holdings, Inc. (OTCBB: CRVH) sends its condolences to those affected in wake of the earthquake that struck Peru Wednesday evening.

Company officials report minor damage to the Miramar Hotel and Casino, yet it remains operational. As a result of the damages to the hotel and lounge, the soft opening date will be pushed back one week.

In anticipation of final preparations for the opening of their newly renovated Miramar Hotel and Casino, the company had planned a soft opening of the lounge area slated for August 20th to reveal added trimmings such as a large, full-color LED display and custom slim-design slot machines.

President and CEO of Chilco River Holdings, Tom Liu said, "Chilco River Holdings sends heartfelt condolences to the victims of this tragedy. Our prayers are with the families affected by the earthquake, and we share in the sorrow with the Peruvian people."

About Chilco

Chilco River Holdings is a Peruvian-based, US-listed gaming company trading on the OTCBB under the symbol CRVH. CRVH develops, manufactures, and sells its own line of low-priced, proprietary slot machines that are licensed in Venezuela, Columbia, Chile and Peru. The company is also involved in the development of software such as a Spanish and Chinese language interactive poker websites as well as a wireless poker gaming station for use in casinos. CRVH recently reached a $10,000,000 funding agreement with Chung Lien Investment Management Limited to use perfecting the newly renovated Miramar hotel and casino which is owned and operated by Chilco River Holdings. The Miramar is one of only seven licensed casinos in all of Peru.

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