Andalucia's Best Kept Secret

LONDON, January 13 - The best kept secret in Andalucía has been revealed with the
launch of the fourth generation of the iconic Alcazaba brand in Estepona.
Alcazaba Hills Resort - a luxury residential resort - the vision of the Lería
Group which has a history of creating premium developments throughout the
world, is poised to deliver the same enviable lifestyle as its predecessors
while continuing the remarkable success of the Alcazaba brand.

Throughout Southern Andalucía the Alcazaba name is synonymous
with the region's most inspirational resorts. It has been that way for the
past 30 years when Jorge Lería began creating award-winning resorts. The
first - La Alcazaba - was built in 1984 in Marbella and secured two coveted
awards including Best Urbanisation on the Costa del Sol and Best Gardens on
the Costa del Sol. Alcazaba Beach Houses followed in 1994 and its successor -
Alcazaba Beach which was completed in 2003 won Best Development on the Costa
del Sol and Best Community Gardens. In 2007 the urbanisations were awarded
The Architectural Heritage Prize for Urbanisations of Environmental Interest
- the highest accolade achievable from the Government of Andalucía. This year
Lería were named Best Property Agents and Developers at the prestigious
Bellevue Awards.

At Alcazaba Hills Resort, which is located at the top of the
Arroyo Vaquero valley, 3 kms from Estepona and closely situated to the
celebrated towns of Marbella and Sotogrande, the same signature features
prevail. Phase one of this gated community offers 100 luxury apartments
(situated in 10 three-story blocks built in a Mediterranean architectural
style) set in exquisite tropical gardens of exotic plants, streams and
pathways. It is these trademark ingredients together with the developer's
vision of the future that will establish Alcazaba Hills Resort as one of the
best private residential resorts in Europe.

Each of the 2 and 3 bedroom and penthouse apartments are front
line with views over the gardens and Mediterranean. Lería's quality build
includes spacious terraces, marble floors, air conditioning, beautifully
equipped kitchens with granite surfaces, double glazing, intercom door entry
systems, Internet and satellite TV connection, underground parking and
storage.

Owners at Alcazaba Hills Resort will enjoy preferential rates
at the nearby Golf Club. When the resort is completed, they will also be
provided with use of the Beach Club and a shuttle service to both facilities,
as well as to Estepona Port with its shops, restaurants, bars and ever
popular Sunday market. However, in due course Alcazaba Hills Resort will also
benefit from a boutique hotel, spa and wellness centre, 15 swimming pools
with hydro massage, cascade and rainforest showers, restaurant, children's
playground and unrivalled sports amenities on site.

Director Juan Pablo Lería Valero said, "Despite the challenges
presented by the global downturn - owner trepidation being the key issue - we
hope that our brand and track record as developers will give confidence to
prospective purchasers. Buyers today are more sophisticated than ever before;
their prospective purchase must measure up to international competition,
offer value for money, capital appreciation and rental yield and afford after
sales management solutions. We have addressed all of these issues and as a
result have developed robust ownership purchase options, put finance in place
and even installed a management company on site."

A community of 700 owners has quietly enjoyed the Alcazaba
experience for the last 25 years, but now, with the excitement surrounding
the opening of Alcazaba Hills Resort, the secret is out.

Visit the website www.alcazabahillsresort.com

Notes to Editors:

Alcazaba Hills Resort will ultimately include 400 apartments,
15 swimming pools as well as the amenities described above. The starting
price for a 2 bed apartment is EUR233,000 with upto 90% mortgages available.
Alcazaba Hills Resort is easily accessible to a wide variety of shops, golf
courses, leisure and cultural activities. Its proximity to the A -7 motorway
provides fast access to both Malaga and Gibraltar international airports.
Alcazaba is Arabic for citadel and in Spanish means Moorish fortification.

The Lería Group was founded 35 years ago. The company has
built more than 30,000 homes in Spain and Chile as well as a number of spas
and wellness centres including Balthus in Santiago awarded Best Wellness
Centre in the World in 2002.

For further information contact Melanie Hickey at Maverick, melanie at alcazabahills.com +34-626-836-870 or Caroline Reid, caroline at alcazabahills.com, +44(0)7764-184421