Cap Cana Re-Opens Consent Solicitation With Respect to Its 9.625% Senior Secured Notes

Santo Domingo, Dominican Republic (ots/PRNewswire) -

Cap Cana, S.A. ("Cap Cana") today announced that it is launching
a new consent solicitation (the "Consent Solicitation") with respect
to its US$250 million outstanding principal amount of 9.625% Senior
Secured Notes due 2013 (the "Notes") by which it is seeking to obtain
a waiver of the technical default that resulted from the Company's
not depositing in the Debt Service Reserve Account, by January 2,
2009, funds equal to the interest payment on the Notes that comes due
on May 3, 2009 (the "Reserve Requirement"), as required under the
terms of the indenture governing the Notes (the "Indenture"), and an
extension of the period for replenishing the Debt Service Reserve
Account to February 24, 2009. Cap Cana is soliciting consents from
the holders of record as of January 7, 2009 to approve an amendment
to the Indenture.

Cap Cana intends to launch an exchange offer in January 2009 to
provide holders of Notes an option to exchange their Notes. The
exchange offer represents part of the Company's comprehensive
restructuring and debt reduction plan designed to improve the
Company's capital structure and financial position in response to the
worldwide downturn in the credit and real estate markets. The Company
stated that it is encouraged by the ongoing discussions with holders
of the Notes regarding an amicable and proactive restructuring
process.

The purpose of the Consent Solicitation, in addition to obtaining
a waiver of the default that arose on January 2, 2009, is to extend
the deadline for the deposit of the Reserve Requirement from January
2, 2009 to February 24, 2009, thus providing Cap Cana with sufficient
time to complete the contemplated exchange offer.

The proposed waiver and amendment to the Indenture requires the
consent of holders of a majority in aggregate principal amount of the
Notes outstanding. The Consent Solicitation will expire at 5:00 p.m.,
New York City time, on Thursday, January 15, 2009, unless the consent
solicitation is extended by Cap Cana, in its sole discretion.

The terms and conditions of the Consent Solicitation are
described in the Consent Solicitation Statement, dated January 7,
2009 (the "Consent Solicitation Statement"), which is being sent to
all holders of record as of January 7, 2009. Holders of the Notes may
obtain copies of these documents from Weston International Capital
Markets LLC by calling 212-888-4560, or in writing at 150 East 58th
Street, 15th Floor, New York, NY, 10155, Attention: Cap Cana Consent
Solicitation.

This press release is for informational purposes only and is not
a solicitation of consent with respect to any securities of the
Company. The Consent Solicitation is only being made pursuant to the
consent solicitation documents, including the Consent Solicitation
Statement dated January 7, 2009, that have been previously
distributed to holders of the Notes. The consent solicitations are
not being made to holders of Notes in any jurisdiction in which the
making or acceptance thereof would not be in compliance with the
securities, blue sky or other laws of such jurisdiction.

Forward-Looking Statements

This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Words such as "expects," "anticipates," "intends," "estimates," or
similar expressions are intended to identify these forward-looking
statements. These statements are based on the current plans and
expectations of Cap Cana, S.A. and involve risks and uncertainties
that could cause future activities and results of operations to be
materially different from those set forth in the forward-looking
statements. The Company undertakes no obligation to update or revise
any forward-looking statements.

About Cap Cana

Located on the easternmost tip of the Dominican Republic, Cap
Cana is a multiuse luxury resort in the Caribbean with world-class
beaches, championship golf courses, yachting facilities and other
leisure amenities. The property consists of over 46 square miles
(119.9 square kilometers) of land, including a five-mile (eight
kilometer) coastline and 2.2 miles (3.5 kilometers) of one of the
most pristine beaches in the region.

ots Originaltext: Cap Cana, S.A.
Im Internet recherchierbar: http://www.presseportal.de

Contact:
Miguel Guerrero, Cap Cana, S.A., +1-809-695-5501 x3999,
investor.relations@capcana.com