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Cubus Lux to Open Third Croatian Casino

20 July 2005

LONDON -- (PRESS RELEASE) -- Gambling group Cubus Lux announced the opening of its third casino in Croatia, sending its shares higher this morning.

The casino is located in the Narcis Hotel in Rabac, about 30 miles north east of Pula in the Istria Peninsula in Croatia. It has 7 tables, of which 2 are American Roulette, 2 Black Jack tables, 2 Poker tables and 1 Chemin de fer.

Non-executive director Guy Ravid said, "Cubus has entered into a 3 year agreement to operate the casino complex at the Rabac Hotel, with an option for an additional 3 year extension."

"The three Hotels, "Complesso dei Fiori", have more than 672 rooms and are fully occupied during the summer season. Adjacent to the hotel is an Autocamp with 3,000 camping places. The complex stretches over 200,000 square metres," he added.

"We believe that this casino has the potential to contribute materially to our revenue base in the coming years. The hotel complex is owned by Maslinica, a group of tour operators in Italy, operating under the name Horstmann Gentilini Hotels."

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