If you're dreaming about purchasing a vacation home but think it's out of your reach, think again.

(ROSE HALL, JAMAICA) - APRIL 5, 2005 - If you're dreaming about purchasing a vacation home but think it's out of your reach, think again. Instead of paying a fortune for oceanfront property, a unique once-in-a-lifetime real estate opportunity has presented itself in Jamaica.

Introducing The Palmyra Resort & Spa at Rose Hall, the first luxury beachfront condo hotel community in Jamaica, leading the island's renaissance. Located next to the famed Ritz-Carlton(r) on 16 acres of pristine waterfront land in Montego Bay, The Palmyra offers world-class amenities including a signature ESPA and access to three internationally-acclaimed golf courses while capturing the magical essence of Jamaica.

Jamaica is on the verge of a veritable renaissance with the government and private investors engaging in smart growth and responsible infrastructure in Montego Bay and surrounding communities. Sitting at the helm of Rose Hall today, Michele Rollins, attorney and former Miss USA, oversees the development of the family's treasured land bought in the late 1960s by the late American philanthropist John Rollins Sr. The Rollins family can be credited with catalyzing Jamaica's revival, as they have created more than 10,000 jobs and poured hundreds of millions of dollars improving the island through restoration, philanthropy and infrastructure support. The Palmyra is part of this revival and the residents will benefit from the island's assets including a newly-privatized airport, conference center, duty-free shopping center and three internationally-acclaimed golf courses.

"Jamaica is rife with opportunity, and The Palmyra is the perfect venture for the savvy investor—a vacation home providing a luxury lifestyle incomparable in value," said Robert T. Trotta, moving force behind the Resort Properties Group, developer of The Palmyra. "Buying into The Palmyra is far less expensive when using the strength of the pound in your favor. Imagine what you can purchase at The Palmyra as opposed to in Europe—an oceanfront penthouse can be a reality."

With the favorable exchange rate and the pound valued currently at almost double the value of the American dollar at a rate of 1.89, purchasing foreign real estate in American dollars allows investors to maximize their investment. While a 1,031 square foot condo complete with five-star spa at your backdoor, personal concierge service and access to three internationally-renowned golf courses will cost an American $475,000, it will cost a Brit only £254,500.96—a great investment opportunity.

According to the Financial Times, analysts say the overseas market for second homes will eventually overtake the domestic market, as real estate opportunities and reduced travel times make foreign investments more appealing. While Spain leads the second home market at 34 percent, non-European countries, such as the Caribbean, comprise a growing 18 percent of foreign vacation home investments. According to CNN, tourism throughout the Caribbean is expected to increase 44 percent in 2005.

REAL ESTATE OFFERING

Outside of Jamaica, beachfront property is increasingly hard to come by without paying a premium. The Palmyra offers a value-added lifestyle and the benefit of an affordable investment opportunity that is sure to appreciate. Located in the heart of the West Indies within the elite enclave of Rose Hall, the private sanctuary of The Palmyra will stretch along one-half mile of pristine Caribbean Sea. Prices for the villas and condos range from the upper £230's to £2 million ($400's to $5 million). Groundbreaking for the first phase of development consists of two condo buildings, 11 private villas, The Palmyra ESPA, infinity pool and beach, and the project is slated for completion in early 2007. The whole ownership real estate offering includes:

Bringing The Palmyra to life is Rose Hall Developments, the company that has masterfully planned the entire 5,000-acre community of Rose Hall Plantation, in partnership with the Resort Properties Group. The Resort Properties Group is a highly-respected development company with more than 20 years of expertise in creating spectacular, international luxury communities in Europe.

The Palmyra gives its residents and guests the opportunity to choose from the very best amenities available. The Palmyra ESPA, a five-star, 20,000-square foot spa, is a destination in itself for pampering and rejuvenation through wellness classes, therapeutic treatments and relaxation. Susan Harmsworth, founder and CEO of Britain-based ESPA, is an award-winning spa designer and counts five of the top 10 best spas worldwide among her designs, as recognized by Condé Nast Traveler. Three internationally-acclaimed championship golf courses wind through the lush mountains and valleys of Rose Hall, providing challenging and breathtaking golf experiences on the White Witch, Cinnamon Hill and nearby Half Moon golf courses. The Palmyra guests will be members of the Rose Hall Golf Association and provided preferential tee times and charging privileges to the three course clubhouses and restaurants.