Cap Cana Announces Extension of Consent Payment Deadline

SANTO DOMINGO, Dominican Republic, April 9 /PRNewswire/ -- Cap Cana, S.A. ("Cap Cana") announced today that it has extended the Consent Payment Deadline for its previously announced exchange offer and consent solicitation (the "Exchange Offer and Consent Solicitation"), originally announced on March 31, 2009, for any and all of its outstanding 9.625% Senior Secured Notes due 2013 (the "Existing Notes").

Holders that wish to receive the consent payment referred to below must validly tender and not validly withdraw their Existing Notes on or prior to 5:00 p.m., New York City time, on April 20, 2009, unless further extended (the "Consent Payment Deadline"). The Exchange Offer and Consent Solicitation will expire at 11:59 p.m., New York City time, on April 27, 2009, unless extended.

Holders tendering their Existing Notes will be required to consent to proposed amendments to the indenture pursuant to which the Existing Notes were issued (the "Indenture"), which would eliminate substantially all of the restrictive covenants contained in the Indenture and the Existing Notes themselves, eliminate certain events of default, modify covenants regarding mergers and consolidations, and modify or eliminate certain other provisions contained in the Indenture and the Existing Notes themselves. Holders may not exchange their Existing Notes without also delivering consents and may not deliver consents without also exchanging their Existing Notes.

Cap Cana is offering to pay holders of Existing Notes a consent payment of US$5.00 per US$1,000 principal amount of Existing Notes, payable in respect of Existing Notes validly tendered and not validly withdrawn and as to which consents to the proposed amendments are delivered on or prior to the Consent Payment Deadline, subject to the terms and conditions of the Exchange Offer and Consent Solicitation.

The Exchange Offer and Consent Solicitation are being made upon the terms and conditions set forth in the Offering Circular dated March 31, 2009 (the "Offering Circular"), and the related Consent and Letter of Transmittal (the "Consent and Letter of Transmittal"). The Exchange Offer and Consent Solicitation are subject to the satisfaction of certain conditions, including receipt of consents sufficient to approve the proposed amendments. Further details about the terms and conditions of the Exchange Offer and Consent Solicitation are set forth in the Offering Circular and the Consent and Letter of Transmittal.

Cap Cana has retained Weston International Capital Markets LLC to act as the Dealer Manager for the Exchange Offer and Consent Solicitation. Weston International Capital Markets LLC can be contacted at (212) 888-4560. The Offering Circular and the Consent and Letter of Transmittal were distributed to holders of Existing Notes beginning on March 31, 2009. Requests for documentation may be directed to Global Bondholder Services Corporation, the Exchange Agent and Information Agent for the Exchange Offer and Consent Solicitation, which can be contacted at (212) 430-3774 (for banks and brokers only) or (866) 924-2200 (for all others toll-free).

This press release is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell the Existing Notes or any other securities. The Exchange Offer and Consent Solicitation are only being made pursuant to the terms and conditions set forth in the Offering Circular and the Consent and Letter of Transmittal. The Exchange Offer and Consent Solicitation are not being made to holders of Existing Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction