Lagomar Properties Announce Condo Sales for Hard Rock Hotel Panama

ORLANDO, Florida - RESORT PROPERTY OFFERS FOUR-STAR, LUXURY ENVIRONMENT COMBINED WITH
UNIQUE ROCK VIBE

Lagomar Properties, Inc. today announced the commencement of condo-sales
for the Hard Rock Hotel Panama, a 400+-room luxury condo-hotel resort
development on the Pacific Ocean. The resort will feature outstanding
oceanfront views along 1,200 feet of Panama’s coast. The tropical location,
combined with Hard Rock’s renowned, luxurious quality standards, offers a
unique destination resort for one of the world’s most globally recognized
brands.

The Hard Rock Hotel Panama will be located near Coronado Beach less than
an hour southwest of Panama City in the tourist area known as “the dry arch”
and the “Southern California of Central America”, a consistently sunny area
in this often-rainy equatorial region. The hotel will be situated on 35 acres
of elevated, lightly forested seaside plateau, including miles of sparkling
white sand beaches and towering palms. A tropical river sweeps around the
property from the southeast to southwest.

“We are excited to bring the Hard Rock Hotel experience to these pristine
Pacific beaches,” says Wayne Bryan, CEO of Lagomar Properties, Inc. “Hard
Rock’s blend of luxury and lifestyle provide an unparalleled visitor
experience.”

The Hard Rock Hotel Panama will offer over 400 elegant guestrooms
including ‘rock-star suites’, a signature trademark of the Hard Rock brand-,
luxury “swim-out” rooms, double suites and villa suites, highland Golf
Villas, quiet Spa Villas and cantilevered riverside Eco Villas. The
eco-sensitive design of the hotel will incorporate Panamanian culture from
Spanish colonial to Kuna motifs within a very up-to-date, expansive context.
Planned attractions currently include a 200,000 square foot pool,
two-signature restaurants featuring the best South American chefs and
cuisine, a signature bar offering sophisticated adult nightlife and dancing,
the exclusive luxurious Rock Spa(R) with floating treatment cabanas, an
innovative group treatment building for wedding parties and other groups and
unique couples packages. Additionally, there will be a ballroom that can
accommodate live performances, business groups and conferences. A smaller
ballroom will also be on-site for more private, intimate affairs and there
will be dedicated children’s areas and activities for family vacationers. The
resort is part of a planned destination complex currently set to include an
18-hole golf course.

About Lagomar Properties, Inc.

From the rain forests of Costa Rica to the desert oasis of Las Vegas, the
Lagomar team brings a wealth of experience in envisioning and building world-
class lifestyle destinations. Lagomar resorts boast everything from trend-
setting design and environmentally-friendly construction to innovative
financing in an effort to create a rewarding experience for everyone from
guests to investors. For the past two years the team has been focused
exclusively on the Panama project, covering thousands of miles of coastline
to find the ideal place for a luxury resort destination. Lagomar Properties
are committed to bringing an unequalled, ecologically conscious vacation
experience to visitors from around the world. For sales or broker information
go to www.lagomarpanama.com or email info@lagomarpanama.com or call +1-804-
726-6500. Information about the Panama project can be found at
www.hardrockcondospanama.com.

About Hard Rock International

With 124 high-energy Hard Rock Cafes and nine Hotels/Casinos in 50
countries, Hard Rock International is one of the world’s most globally
recognized brands. Beginning with an Eric Clapton guitar, Hard Rock owns the
world’s greatest collection of music memorabilia, which is displayed at its
locations around the globe. Hard Rock is also known for its collectible
fashion and music-related merchandise, Hard Rock Live performance venues and
an award-winning website. In addition to the two flagship Seminole Hard Rock
Hotels and Casinos in Tampa and Hollywood, Fla., Hard Rock Hotels/Casinos are
located in Las Vegas, Biloxi, Orlando, Chicago, San Diego, Pattaya and Bali.
Additional hotel and casino projects have been announced in Macau and Penang,
both scheduled to open in 2009; Palm Springs, Atlanta and Panama, scheduled
to open in 2010; Dubai, scheduled to open in 2011; and Abu Dhabi, scheduled
to open in 2012. Hard Rock International, Inc. is owned by Seminole Hard Rock
Entertainment, Inc. For further details on Hard Rock Hotels and Casinos,
visit www.hardrockhotels.com. For more information on Hard Rock
International, visit www.hardrock.com.

DISCLAIMERS

THE CONDOMINIUM UNITS ARE NOT OWNED, DEVELOPED OR SOLD BY, OR UNDER
COMMON OWNERSHIP OR CONTROL WITH, HARD ROCK LIMITED, HARD ROCK HOTEL
LICENSING, INC. OR HARD ROCK CAFÉ INTERNATIONAL (USA) INC., OR ANY OF THEIR
AFFILIATES (COLLECTIVELY, “HARD ROCK”). LAGOMAR PROPERTIES, INC. AND COTON S.
DE R.L. (”DEVELOPER”) USES THE HARD ROCK TRADEMARKS UNDER A LICENSE
AGREEMENT, WHICH LICENSE AGREEMENT MAY BE TERMINATED IN ACCORDANCE WITH THE
TERMS AND CONDITIONS THEREOF. THE LICENSE AGREEMENT IS LIMITED IN DURATION
AND THERE IS NO GUARANTY OR OTHER ASSURANCE OF ANY KIND THAT THE HOTEL WILL
CONTINUE TO BE ASSOCIATED WITH THE HARD ROCK SYSTEM FOR ANY PERIOD OF TIME.
CONDOMINIUM UNIT OWNERS WILL NOT OWN ANY INTEREST IN THE LICENSE AGREEMENT,
IN HARD ROCK OR IN THE HOTEL MANAGEMENT AGREEMENT BETWEEN HARD ROCK AND
DEVELOPER. THE CONDOMINIUM UNITS PURCHASED BUT NOT PARTICIPATING IN THE
RENTAL MANAGEMENT PROGRAM WILL NOT BE PART OF, OR OPERATED AS PART OF THE
HOTEL, ALTHOUGH SUCH UNITS WILL BE LOCATED WITHIN THE SAME BUILDINGS AS THE
CONDOMINIUM UNITS THAT ARE PART OF THE HOTEL. THE CONDOMINIUM UNIT OWNERS AND
PURCHASERS OF THE CONDOMINIUM UNITS WILL OBTAIN NO RIGHT TO ANY LICENSE
AGREEMENT OR TO ANY HARD ROCK TRADEMARKS AND WILL NOT BE PERMITTED TO REFER
TO OR UTILIZE ANY HARD ROCK TRADEMARKS IN CONNECTION WITH ANY RESALE, RENTAL
OR OTHER USE OF THEIR CONDOMINIUM UNIT. HARD ROCK HAS NOT PARTICIPATED AND
WILL NOT PARTICIPATE IN ANY MANNER IN THE SALE AND MARKETING OF THE
CONDOMINIUM UNITS AND HAS NOT AND WILL NOT ACT AS A BROKER OR AGENT IN
CONNECTION WITH ANY CLOSING. HARD ROCK HAS NOT IN ANY WAY PASSED ON THE
MERITS OF, OR THE MATTERS SET FORTH IN, THIS ADVERTISEMENT OR ANY MARKETING
MATERIALS.

Source: Lagomar Properties, Inc.

Michelle Messina of Hard Rock International, +1-407-445-7740 (office), Michelle_messina at hardrock.com; or Marissa Mastellone of Dan Klores Communications, +1-212-981-5210 (office), marissa_mastellone at dkcnews.com