Beal Bank Nevada Originates $200,000,000 Senior Secured Term Loan

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Wed Apr 29, 2009 6:54pm EDT 

Treasure Island, LLC is recipient of first-lien credit facility to refinance
debt and secure acquisition

DALLAS, April 29 /PRNewswire/ -- Beal Bank Nevada and Treasure Island, LLC
("Treasure Island") jointly announced today the origination by Beal Bank
Nevada of a new $200 million first lien mortgage credit facility to Treasure
Island, LLC ("Treasure Island"). The transaction refinances a bridge loan for
the acquisition by Phil Ruffin of the Treasure Island casino in Las Vegas, NV.

Treasure Island selected Beal Bank Nevada to provide the refinancing based on
Beal Bank Nevada's competitive terms, timing, certainty of funding and the
ability to negotiate and close the transaction in a short period. In a joint
comment on the transaction, Treasure Island CEO Phil Ruffin said, "I am very
happy to have done this financing of Treasure Island with Andy Beal. I look
forward to a long relationship with Beal - Andy is one hell of a smart
banker."

Beal Bank Nevada CEO Andy Beal added, "Beal Bank Nevada has a tradition of
successful partnerships in the gaming industry, and we are pleased to have the
opportunity to continue that tradition through our transaction with Treasure
Island." 

Mr. Beal concluded, "Our team was able to work quickly and efficiently with
Treasure Island CEO Phil Ruffin and CFO Gail Knott to negotiate and complete
the transaction in roughly a week's time. Phil is a very savvy businessman,
and we look forward to working with him and the Treasure Island team in the
future."

About Beal Bank Nevada: Beal Bank Nevada is a well-capitalized financial
institution, with headquarters located at 3763 Howard Hughes Parkway, Suite
100, Las Vegas, NV 89169. Beal Bank Nevada is a member of the FDIC. 

    Contact: Jacob Cherner
    Phone 469-467-5563
    Fax 469-241-9567
    jcherner@csginvestments.com

    Contact: Phillip Ruffin
    Phone (702) 894-7182
    Fax (702) 894-7680
    egardner@treasureisland.com




SOURCE  Beal Bank Nevada; Treasure Island, LLC

Jacob Cherner of CSG Investments, Inc., +1-469-467-5563, fax, +1-469-241-9567,
jcherner@csginvestments.com, for Beal Bank Nevada; or Phillip Ruffin of
Treasure Island, LLC, +1-702-894-7182, fax, +1-702-894-7680,
egardner@treasureisland.com
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