Hainan Island, China is next stop for Outrigger Enterprises Group

HONOLULU--(Business Wire)--
David Carey, president and CEO of Outrigger Enterprises Group,
announced today that the company has been selected to develop and
manage the Outrigger Qingshui Bay Resort, Sanya, China, a new 500 plus
room, five-star, full service luxury hotel to be built as part of
Qingshui Bay Resort, an exciting new, multi-billion dollar mixed use
development being built on the island of Hainan in the People's
Republic of China. Located along 7.5 miles of prime beachfront
property within Hainan Island's Sanya Administrative Prefecture on the
South China Sea, the Qingshui Bay Resort will feature six luxury
hotels, a diverse range of residential apartments and villas, multiple
championship golf courses and a comprehensive mix of commercial,
retail and entertainment offerings.

"This is an extraordinary opportunity for Outrigger's first
venture into China and to be a part of China's growing tourism
industry," said Mr. Carey. "The Qingshui Bay Resort is one of the
largest projects the area has seen in recent years. We are excited
that the developers have selected Outrigger to be a part of such an
expansive world class project. The Qingshui Bay Resort represents a
strategic opportunity for Outrigger to build brand awareness by
operating a flagship property in China's premier resort destination."

Qingshui Bay Resort is being developed by a joint venture between
funds managed by Morgan Stanley and Agile Property Holdings Limited, a
Hong Kong listed property developer specializing in large-scale, high
end, design-oriented residential and resort developments. Overseeing
the hotel component of the master planned project is Panorama
Hospitality, a unit of Morgan Stanley specializing in hotel asset
management, operating and advisory services in the Asia Pacific and
Europe regions.

"We are pleased to have Outrigger join us in what will be one of
China's premier leisure destination resorts," said Chen Zhuo Lin,
Chairman of Agile. "Their experience and reputation, as well as its
focus on warm weather, beachfront resort leisure destinations, made
Outrigger a natural choice for our Qingshui Bay Resort."

The Outrigger Qingshui Bay Resort, which is slated for completion
by 2013, will be one of six luxurious accommodation choices within the
Qingshui Bay Resort. According to Darren Edmonstone, senior vice
president-Asia for Outrigger Enterprises Group, Outrigger will be
heavily involved in the design and development of the Outrigger
Qingshui Bay Resort. "We will be leading the conceptual design and
development planning and are currently in the process of putting
together a team of world-renowned consultants to assist us in building
a distinctive, world class property," Mr. Edmonstone said. Multiple
food and beverage outlets, an exclusive beach club, extensive
landscaping, including a variety of specialized water features and
high end retail are all expected to be a part of the new Outrigger
resort.

Outrigger's Asia Expansion

In the two short years since Outrigger began its growth into Asia,
the company has acquired properties in Bali and Phuket, with
discussions now underway for additional properties in Phuket and Koh
Samui in Thailand. At the present time, Outrigger also is
investigating other opportunities in Hua Hin, Krabi and Pattaya in
Thailand, another location in Bali and several locations in Vietnam.

According to Mr. Edmonstone, "The fast-changing,
highly-competitive leisure hospitality market requires specialized
expertise and understanding, which Outrigger brings. Owners and
developers of hospitality product in Asia are especially interested in
our total focus on leisure resort properties in warm weather, beach
front locations and our ability to provide a total management solution
for hotel, timeshare, condominium and retail components of a resort,"
Mr. Edmonstone added.

Outrigger Enterprises Group
Nancy Daniels, 808-921-6839 (Media)
nancy.daniels@outrigger.com
www.outrigger.com

Copyright Business Wire 2008