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CPAmerica Submits Singapore Casino Proposal

7 March 2005

LAS VEGAS – (PRESS RELEASE) -- CPAmerica, Inc. in partnership with Innovation Properties - a developer of entertainment and leisure destinations - has submitted a development concept proposal for a $1.5 billion family- oriented resort destination for a 'Downtown at Marina Bay' location and for a location on Sentosa Island in Singapore.

The Singapore Tourism Board (STB), acting on behalf of the Singapore government, solicited proposals for an integrated resort, to potentially include Singapore's first casino. CPAmerica, Inc. presented a proposal for a family-oriented resort, with a casino component. "Don Dorsey of Innovation Properties designed a world-class, family-oriented casino resort concept, and one that is perfectly matched to the Singapore governments goals for these sites," said Jack Wishna, President and CEO of CPAmerica. "We are excited to be part of Don's vision for the next chapter in resort development." Wishna added.

The CPAmerica-Innovation Properties concept joins other proposals submitted by Wynn Resorts, Sun International, Tabcorp, and MGM-Mirage that the Singapore government plans to review to potentially select one or two projects from this pool.

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