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Financing Discussed for Spanish Bit Casino

CLARKSDALE, Mississippi -- (PRESS RELEASE) -- Superior Development Group, Inc. (PINKSHEETS: SDVG) ("Superior Development") announced today that Triad Resorts, LLC, a Nevada Limited Liability Corporation, and Superior Development have entered into discussions with Capmark Financial Group Inc. (Capmark), formerly known as GMAC Commercial Holding Corporation, to provide financing for the proposed Spanish Bit Hotel & Casino in Jackpot, Nevada as stated in the press release on August 7, 2006. Initial discussions with Capmark indicate that the financing plan and terms will be a 70% loan to cost and an interest rate of 250 to 300 basis points above libor.

Superior Development also announced that it has also entered into discussions with Newbridge Securities Corporation to privately place its secured convertible preferred stock to provide the equity for the proposed hotel and casino. Derrick Neal, President and CEO of Superior Development, commented, "We are very pleased about the interest that we have received from the institutional financial community for the financing of this project and we are equally pleased that Triad Resorts, LLC, our partner in this venture, under the leadership of Patrick Howard, has put together such a unique resort hotel and casino deal."

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