Cap Cana Announces Results of Exchange Offer and Consent Solicitation Through Consent Payment Deadline

SANTO DOMINGO, Dominican Republic - Cap Cana, S.A. (”Cap Cana”) announced today that as of 5:00 p.m. on April 24, 2009 (the “Consent Payment Deadline”) under the Company’s exchange offer and consent solicitation (the “Exchange Offer and Consent Solicitation”), originally announced on March 31, 2009, as amended on April 16, 2009, an aggregate principal amount of US$157,211,000 (or 62.88%) of the Company’s outstanding 9.625% Senior Secured Notes due 2013 (the “Existing Notes”) were validly tendered and not withdrawn. The Company also announced that as of 5:00 p.m. on April 27, 2009, an additional aggregate principal amount of US$9,500,000 (or 3.80%) of the Existing Notes were validly tendered and not withdrawn, bringing the aggregate amount of Existing Notes tendered as of such time to US$166,711,000 (or 66.68%).

Holders tendering their Existing Notes in the Exchange Offer and Consent Solicitation are 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.

As a result of the receipt of requisite consents in the Exchange Offer and Consent Solicitation, the Company and the trustee under the Indenture will execute a supplemental indenture reflecting the proposed amendments to the Indenture. Although the supplemental indenture will be executed as soon as practicable, the amendments will not become operative unless and until the Exchange Offer and Consent Solicitation is consummated.

Holders of Existing Notes who validly tendered and did not validly withdraw their Existing Notes prior to the Consent Payment Deadline will be paid a consent payment of US$5.00 per US$1,000 principal amount of Existing Notes, subject to the terms and conditions of the Exchange Offer and Consent Solicitation.

The Exchange Offer and Consent Solicitation will expire at 11:59 p.m., New York City time, on April 30, 2009, unless extended. Cap Cana has no current intention to extend 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”), as amended by the Supplement thereto dated April 16, 2009 (the “Supplement”), 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. Further details about the terms and conditions of the Exchange Offer and Consent Solicitation are set forth in the Offering Circular, the Supplement and the Consent and Letter of Transmittal.

Weston International Capital Markets LLC is acting 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. The Supplement was distributed to holders of Existing Notes beginning on April 17, 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, at +1-212-430-3774 (for banks and brokers only) or +1-866-924-2200 (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, the Supplement 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.

About Cap Cana

Located on the easternmost tip of the Dominican Republic, Cap Cana is being developed as a multiuse luxury resort in the Caribbean with world-class beaches, championship golf courses, yachting facilities and other leisure amenities. The property consists of over 46 square miles (119.9 square kilometers) of land, including a five-mile (eight kilometer) coastline and 2.2 miles (3.5 kilometers) of one of the most pristine beaches in the region. We broke ground on the project in mid-2002 and, as of September 30, 2008, we have entered into contracts with aggregate value of approximately US$1.4 billion for the sale of approximately 1,500 units of real estate properties. Throughout this period, we have delivered approximately 650 real estate properties to buyers, including retail and developer hotel lots, condominiums and villas. As of September 30, 2008, Cap Cana had invested approximately US$485 million in infrastructure and other improvements. These included construction of approximately 25 miles (40 kilometers) of paved roads, water reservoirs and associated distribution and sewage treatment systems, power generation and distribution for the project’s increasing energy needs. Currently completed and operational are (i) a world-class private beach club, (ii) a Nicklaus Signature golf course and clubhouse, (iii) 87 slips in our in-land Marina that can accommodate yachts of up to 250 feet, (iv) 14 deluxe restaurants and several upscale retail shops in the Marina area, (v) the “Cap Cana Sanctuary Golf & Spa”, a 176 suites five-star luxury hotel, (vi) the Heritage School, with approximately 300 local and international students in attendance, (vii) more than 13,000 square meters of administrative offices and (viii) a 288-room residence for our employees.

Source: Cap Cana, S.A.

Miguel Guerrero of Cap Cana, S.A., +1-809-695-5501, ext. 3999, investor.relations at capcana.com