SCI Acquires The Buccaneer Resort

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) January 19, 2004 -- San Cristobal International (SCI) has recently entered into a contract to acquire the famous Buccaneer Resort on Isla Carenero in the Bocas del Toro Archipelago. Plans call for refurbishing, expanding and repositioning the resort as one of Panama�s first private-membership communities.

When completed in 2004, the Buccaneer will feature 25 Cabanas offered to private members for US$9,999, with 50% down with 50% financing available, for 10 days use per year for 15 years. Members have access to 1100 meters of Caribbean beach, luxury, 2-bedroom, beachfront Cabanas with all amenities, a clubhouse, business center, over-the-water restaurant and bar, and a complete range of recreational activities.



Recently the Caribbean side of Panama has gotten international attention and the reason is tourism. It also has more varied destinations to travel to than most of the top tourist destinations in the world. In fact, Panama has "found its place" on the Caribbean tourist map in the past seven years in locations such as the Bocas del Toro Archipelago, making the Buccaneer a very well-positioned resort property.

The combination of Panama's strong points has been transformed into a solid investment opportunity by SCI through its private Investment Promotion Agency based in Panama. SCI�s Founder and President Tom McMurrain launched San Cristobal Land Development (SCLD) in July 2002 (acquired by SCI in July 2003), which in the past 18 months has brought over US$5 million of FDI to Panama.



The seven-figure influx is based on a product unique only to Panama. When McMurrain came to the country in 2000, he saw the Panama advantages in terms of Caribbean beach- and waterfront land prices and potential development, and then coined the phrase �Emerging Growth Real Estate� (EGRE) to describe the phenomenon.

McMurrain states, �Panama has the potential to become a world-class tourist destination and a dominant business center for companies looking to cash in on its Caribbean "Gold Coast" boom. The Buccaneer project will be one of the first major resort developments to lead the way in the Bocas region. We are happy to be a part of both.�



Those interested in receiving a term sheet and projections of the resort based on three levels of membership sales can contact buccaneer@sancristobalsa.net, 1-866-811-5324 (U.S.) or +507-322-0913 (Panama).