Foundation Now In Place At Acqualina Ocean Residences & Resort - May 15, 2002

FOR IMMEDIATE RELEASE

FOUNDATION NOW IN PLACE
AT ACQUALINA OCEAN RESIDENCES & RESORT

SUNNY ISLES BEACH, Fla. - The recent pouring of the concrete foundation for the new Acqualina Ocean Residences & Resort, located at 178th Street and Collins Avenue in Sunny Isles Beach, drew interest from specially invited guests and curious onlookers who observed the exciting action. A total of 140 trucks, making 950 trips over a consecutive 14-hour period beginning at 3 a.m. on May 11, poured 9,500 cubic yards of concrete onto the spectacular oceanfront site.

According to Harold Wolf, senior account executive with Tarmac, the Titan America business that supplied the concrete, this was one of the largest "mat foundation pours" in all of South Florida. "Suffice it to say," said Michael Goldstein, "that's what was required to accommodate a building of this magnitude. Acqualina is a grand, 51-story, Italian-inspired tower that will feature very spacious furnished and unfurnished condominium residences, lavish two-story penthouses with a separate guest house and pool or spa, furnished condo-hotel residences, and a small, luxury, 'boutique' hotel managed by the esteemed Rosewood Hotels & Resorts. We've experienced tremendous success and are approaching a sell-out, although some choice residences still are available for purchase. But they won't last much longer." In addition to witnessing the pouring of the foundation for the residential resort landmark, guests enjoyed refreshments throughout the day, including mimosas to toast the memorable occasion. Acqualina is developed by The Trump Group whose flagship Williams Island luxury community in nearby Aventura has become to CEOs, celebrities, sports personalities and other high-profile individuals over the years.

Goldstein said that the added dimension of Rosewood management of the condominium residences and hotel means that Acqualina owners, like hotel guests, may more enjoy sophisticated amenities and gracious, personalized services provided by a member of The Leading Hotels of the World. "As one of the top ultra-luxury hotel management companies in the world, Rosewood is recognized for its unique, award-winning properties worldwide, such as The Carlyle (New York), The Mansion on Turtle Creek (Dallas), The Lanesborough (London), Las Ventanas al Paraiso (Mexico) and others."

Commenting further, Goldstein noted, "It is the high level of personalized services that sets 'boutique' hotels apart from hotels of typical hotel chains. And Rosewood's distinctive, discreet services are on the most extraordinary level."

The opulent tower will provide an impressive entranceway that transports one to Italy, from its stately iron gates and bell tower, to beautiful water features and a grand porte-cochere with a domed cupola. Valet parking attendants and a doorman will greet residents and guests. There will be 24-hour security, along with 24-hour room service, housekeeping and concierge services. Other amenities include a signature Rosewood restaurant with indoor and outdoor dining overlooking the ocean; gourmet convenience store; oceanfront European pampering spa of over 11,000 square feet, with personal treatments and state-of-the-art fitness equipment; three swimming pools; and a private beach club.

Owners at Acqualina will also have an opportunity to access Williams Island golf, tennis and deepwater marina accommodating yachts up to 165 feet.
Acqualina's three- to seven-bedroom condominiums residences, including penthouses, span 2,185 to 13,000 square feet, with prices from $1.2 million to over $10 million. Also offered are fully furnished, three-bedroom "turnkey" oceanfront residences and furnished three-bedroom condo/hotel residences priced from $1 million; and furnished hotel suites and one-bedroom suites from $450,000 to over $600,000.

Projected completion of the tower is Spring 2004.