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New World, LLC Announces Fifth Partner

10 January 2001

LAS VEGAS, Nevada -- (Press Release) -- Jan. 10, 2001 -- New World, LLC, a partnership that will develop three world-class Mega Resorts on the famous Las Vegas Strip, officially announced today that Commerce One founder Tom Gonzales has become a partner and is currently the single largest investor in World Port Resorts.

Meanwhile, the principals of New World, LLC are moving ahead with the Master Planned project by considering various hotel/casino concepts, including a possible ``London'' theme.

The principals -- Howard Bulloch, David Gaffin, Bob Unger, Barry Fieldman and Gonzales -- said the London concept could blend with other European-themed resorts in Las Vegas, including the Bellagio and Paris.

``I am very excited to become a part of this master planned resort development,'' Gonzales said. ``I look forward to working with the New World principals and taking the next step to make this project a reality.''

World Port Resorts, which will bring a master planned development to the Las Vegas hotel/casino industry for the first time, will be created on 77 acres of land across from Mandalay Bay and adjacent to the airport. The property has already been zoned for hotel/casinos, and the principals are busy with the next planning stages.

Other plans include a convention center, an entertainment facility, fine dining establishments and shopping areas. Grading of old buildings on the property has already begun.

World Port Resorts comes at a time when Las Vegas is near a standstill in Strip developments. Despite this, Las Vegas continues to bustle with people both moving to the valley and visiting the town. Not only will the new project provide thousands of people with employment opportunities, but visitors will consider the development a ``jewel'' to Las Vegas, Unger said.

In 1999, more than 33.8 million people visited Las Vegas, according to the Las Vegas Convention and Visitors Authority. Officials expected 35.5 million by the end of 2000. Of these, 44 percent drove into Las Vegas, with 30 percent of them being from California.

``We are also fortunate that World Port Resorts is located off Russell Road, the first major highway exit to get to the Strip from Interstate 15 northbound,'' Fieldman said. New World principals also say the development could serve as the southernmost stop for the monorail, which also is being built to handle the increase in visitor volume.

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