Thunderbird Resorts Inc.

Thunderbird Resorts Inc.

August 03, 2006 15:15 ET

Thunderbird Resorts, Inc.: Costa Rica Casino-Resort Project

POWAY, CALIFORNIA--(CCNMatthews - Aug. 3, 2006) - Thunderbird Resorts, Inc. (CNQ:BIRD.U)(FWB:OSJ) announces the completion of the acquisition of land for a new casino-resort project in Costa Rica. The "Thunderbird Resort - 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 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 "Terra Mall". 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, 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 at

On behalf of the Board of Directors,

Jack R. Mitchell, President and CEO

Cautionary Notice: This release contains certain forward-looking statements within the meaning of the securities laws and regulations of various international, federal, and state jurisdictions. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding potential revenue and future plans and objectives of the Company are forward-looking statements that involve risk and uncertainties. There can be no assurances that such statements will prove to be accurate and actual results could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's forward-looking statements include competitive pressures, unfavorable changes in regulatory structures, and general risks associated with business, all of which are disclosed under the heading "Risk Factors" and elsewhere in the Company's documents filed from time-to-time with the CNQ and other regulatory authorities.

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