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Inn of the Mountain Gods Resort Update

3 October 2005

MESCALERO, New Mexico – (PRESS RELEASE) -- Inn of the Mountain Gods Resort and Casino ("IMGRC"), a business enterprise of the Mescalero Apache Tribe (the "Tribe"), announced today an update on the status of the filing of its quarterly report on Form 10-Q for its first quarter ended July 31, 2005. The Form 10-Q was due on September 14, 2005. IMGRC filed an extension for the filing on Form 12b-25, but was not able to complete the filing by the date provided for in the extension (September 19, 2005). On September 19, 2005, IMGRC announced it intended to file the report by September 30, 2005, but was not able to complete the filing by this date.

The delay in filing the report on Form 10-Q is due, in part, to turnovers in key positions in our finance group late in the period, as announced on September 19, 2005. Shortly after the end of our first fiscal quarter ended July 31, 2005, in August 2005, our senior financial executives with principal oversight of the financial accounting and reporting responsibilities of the Company resigned. Although we since have retained an individual with significant financial reporting and accounting expertise to serve as our Chief Financial Officer, as a result of these resignations, we were unable timely to implement our quarter end closing procedures. In addition, in connection with the preparation of our report on Form 10-Q, we identified material weaknesses in our internal control over financial reporting principally relating to the timely documentation of our transactions in our accounting system, inadequate checks and balances with respect to documentation and implementation of transactions and the maintenance of adequate documentation and education of our staff with respect to our accounting policies and procedures.

Management, at the direction of our audit committee, is implementing changes in our internal controls to enhance our internal controls in response to management's conclusions. These changes will not be implemented prior to the filing of our report on Form 10-Q. In order to prepare the report, we have implemented interim alternative and additional control measures (the "Interim Measures") to ensure that the financial statements, and other financial information to be included in the Report, fairly present in all material respects the financial condition, results of operations and cash flows of the Company as of, and for, the periods presented. We plan to file the report on Form 10-Q once these Interim Measures have been completed.

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