Global Financial Group Breaks Ground on $300 million Luxury Resort Village in Guanacaste Province, Costa Rica

Jun 10, 2008

SAN JOSE, Costa Rica - June 10, 2008 - Morris Plains, NJ – June 10, 2008 – Why visit a piece of paradise when you can own it for a lifetime? Known for its lush landscape, rugged mountains, brilliant blue waters and warm climate, Costa Rica is a Mecca for nature, golf and travel enthusiasts alike. Realizing the breathtaking beauty this coastal city has to offer vacationers, Global Financial Group – a New Jersey-based developer of unique homes and elite properties – has begun construction on Azulera Resort Village, to be located in the stunning Guanacaste region of Costa Rica along the Pacific coast.

Nestled in a tropical forest overlooking Brasilito Bay, the $300 million bio-sensitive resort will feature a Hyatt Regency Resort & Spa and will include more than 185 guest rooms and 64 full-service residential condominiums. Guests of the hotel and residents of the condos will have full access to a state-of-the-art golf course designed by the “The Shark” Greg Norman, featuring astounding views of the natural terrain. Available in one, two and three-bedroom units, the condominiums will feature a living room and adjacent terrace with an open-air dining area for sunlight by day and stargazing by night. Each spacious accommodation will feature a gourmet kitchen and private terrace with sitting area and plunge tub. Residents of the condo clusters will also have access to their own courtyard and swimming pool. The second phase of the development will offer an additional residential component consisting of nearly 1,000 units including condominiums, townhouses, mid-rise apartments and custom mountainside homes.

“Combining luxury with the natural beauty of the area, Azulera was designed in tandem with nature. The coastal condos target the sophisticated homebuyer who is interested in investing in the good life and the surroundings that epitomize the stunning beauty of Costa Rica,” said Anil Kothari, President and Chief Executive Officer of Global Financial Group.

Dotting the 557 acre complex – designed by world-renowned architect Michael Graves – will be specialty boutiques and retail stores. Another highlight is the 18-hole championship golf course, which will offer unparalleled seas-to-mountains visuals. Ensuring that the natural environment on the site is preserved, Norman designed the course with a “least disturbance” model - reinforcing Azulera’s commitment to the environment.

For example, the development team is exploring the idea of constructing a desalination plant, which would allow for the removal of salts and minerals from adjacent sea water in order to be converted to fresh water suitable for landscape and golf course irrigation.

“In Costa Rica, people refer to undeveloped land as ‘the farm,’ and we created a vision to take the farm to the finish line,” said Kothari. “On day one we developed a strategy to ensure Azulera truly represented the three C’s of Costa Rica: culture, community and character.”

Understanding the importance of preserving the community, Global Financial Group has committed to partnering with local businesses. Not only will Azulera employ local residents, its onsite restaurants will be supplied in part by local fishermen and vendors.

The golf course will be built on more than 500 acres with views of Brasilito Bay and Isla Loros, a nearby island wildlife preserve. The front nine will be built primarily on flat terrain with large trees encompassing the course. These opening holes will also run along a mangrove swamp, ensuring maximum variety on this stretch of the course. The back nine are situated through a thick jungle and players will notice a rise in elevation affording breathtaking views of the bay from the 13th and 14th holes. The course provides the perfect blend of nature and challenge for all skill levels, contributing to a truly unique golfing experience.

The project’s first phase - the hotel, golf course and the 64 full-service condominiums are scheduled for completion by early 2010. Additional information and investment inquiries can be made by visiting http://www.azulera.com or calling (973) 401-9100.

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