Stanford Financial Group Breaks Ground on Caribbean Expansion

Thu Feb 21, 2008 5:52pm EST

* Reuters is not responsible for the content in this press release.

Plans unveiled for sophisticated, environmentally friendly global management
office complex in St. Croix

    ST. CROIX, U.S. Virgin Islands, Feb. 21 /PRNewswire/ -- Today, United
States Virgin Islands Governor John P. deJongh, Jr., Lt. Governor Gregory R.
Francis, President of the 27th Legislature of the Virgin Islands Usie R.
Richards, and Executive Director of the Virgin Islands Port Authority Darlan
Brin joined Sir Allen Stanford, Chairman and CEO of the Stanford Financial
Group of companies, to break ground on construction of the Stanford Financial
Group global management complex.
    The Stanford Financial Group global management complex will be located on
a 37-acre site at the southwest corner of the Henry E. Rohlsen International
Airport and will house the Stanford companies' worldwide management functions
and serve as the head office for Stanford's operations in the Caribbean.
    The business campus will feature 105,000-square feet of office space with
an expansive atrium, skylight and water feature.  The main building will
incorporate St. Croix's distinctive Danish West Indian style, architecture and
elements.  It will also include a conference facility that will accommodate
more than 200 people.  Also included in the complex is a 45,000-square-foot
aviation hangar and office, a food pavilion and a lounge area for staff and
    The office building will be among the first in the Caribbean to be
certified according to standards set forth by LEED ("Leadership in Energy and
Environmental Design Green Building Rating System(TM)").  LEED certification
is the benchmark for design, construction and operation of efficient "green"
buildings.  Local vendors, contractors and consultants will be used for the
construction of the complex which will result in the creation of over 500
construction employment opportunities on St. Croix.  A substantial number of
permanent jobs will become available upon completion of the complex.
    "Today is an exciting day for the Stanford Financial Group of companies,"
said Sir Allen Stanford.  "Not only are we breaking ground on a facility that
will house the top-tier team that makes up Stanford Financial Group Global
Management, but we are expanding our footprint in the Caribbean with a
permanent business home in St. Croix.  We are committed to an environmentally
friendly development and will do our part to be "green," and nowhere is that
more important than in the Caribbean where the environment is so beautiful and
must be preserved and protected at whatever cost."
    Governor John P. deJongh expressed similar sentiments regarding the impact
Stanford's expansion will bring to St. Croix stating, "I see the relationship
between Stanford Financial and the U.S. Virgin Islands as positioning the
Territory to become a beacon of business opportunity and employment
possibilities.  I am pleased to be a part of a tremendous day for St. Croix
and for Stanford Financial."
    The new, state-of-the-art facility will serve as the base for the
corporate support functions of Stanford's global network of financial services
companies, including the Chairman's office and the business technology,
compliance, finance, human resources, investment strategy and legal
departments.  Stanford will also establish in St. Croix the management offices
for the Stanford 20/20 Cricket Tournament and Stanford Caribbean Investments.
    The projected completion date of the Stanford global management complex is
July 2009.
    About Stanford Financial Group
    Stanford Financial Group is a privately held global network of
independent, affiliated financial services companies led by Chairman and CEO
Sir Allen Stanford.  The first Stanford company was founded by his
grandfather, Lodis B. Stanford in 1932.  Stanford's core businesses are
private wealth management and investment banking for institutions and emerging
growth companies.
    The Stanford Financial Group of companies provides private and
institutional investors with global expertise in asset allocation strategies,
investment advisory services, award-winning policy and equity research,
international private banking and trust administration, commercial banking,
investment banking, merchant banking, institutional sales and trading, real
estate investment and insurance.  Stanford has over $43 billion in assets
under management or advisement.  Stanford Financial has made it a priority to
invest in the communities in which it operates across the globe through
signature corporate philanthropy initiatives with nonprofit organizations such
as St. Jude Children's Research Hospital and countless local and national
charities that strengthen communities.
    Securities products and services in the United States are offered through
Stanford Group Company, member FINRA/SIPC.  Stanford Financial Group is not a
legal entity, but a registered trademark that encompasses the global network
of independent, but affiliated, privately held and wholly owned entities.
More information on the company can be found at
SOURCE  Stanford Financial Group

Lori Guyton of Stanford Financial Group, +1-901-523-0011,
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