U.S.-Based Becovic Management Group Takes Next Steps in Readying Resort Redevelopment Plans for Hotel Mediteran in Montenegro Coastal City of Ulcinj

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Representatives of Becovic Management Group and BMG Project Consulting Team visit Ulcinj this week to complete due diligence and feasibility evaluations, and to resolve specific property use issues.

Hotel Mediteran property owner, Becovic Management Group ("BMG"), will visit Ulcinj this week, along with international resort development consultants from California and Ireland, to complete detailed due diligence and project feasibility evaluations. BMG also intends to resolve a number of specific technical matters affecting future redevelopment of the Hotel Mediteran property.

"Over the last nine months BMG has worked tirelessly to resolve various issues related to squatters illegally residing on the property, working in collaboration with syndicate Chief Mr. Kako Ljmarovic," stated Mr. Isa Becovic, Senior Vice President of Becovic Management Group and the company's senior executive-in-charge. "Although we have had varied success to-date, we are pleased that Mr. Ljmarovic has confirmed to us that the squatters will be removed from the property by July 24 of this year. We intend to honor this proposed timeline accordingly."

BMG purchased the Hotel Mediteran property in 2005 with the concept of redeveloping the property into a first-class coastal destination resort, with mixed-use resort and entertainment components, possibly with an overall theme to the architecture and service. Resort development project manager, StoneCreek Partners LLC, based in California, and Hotel Heads Limited, a resort marketing consultancy based in Ireland, are working with BMG to create a concept for the property. StoneCreek Partners LLC (http://www.stonecreekllc.com) and its creative affiliate Adventure Studios (http://www.AdventureStudios.com) bring a Hollywood-based flair to resort and mixed-use project concept planning -- something BMG was looking for in this planned destination resort project.

In July 8, 2005, Becovic Management Group purchased the Hotel Mediteran through the Commerce Court of Podgorica. The property had been a resort and hospitality asset of Ulcinj-based hotel-tourist company, Ulcinjska Rivijera.

"Our enthusiasm for the Ulcinj market and the Hotel Mediteran project remains strong," continued Mr. Isa Becovic, "and we trust that the people of Ulcinj will continue supporting our efforts to resolve all open issues affecting the hotel property. We sincerely hope that Ulcinj residents will welcome our project ideas."

Becovic Management Group, Inc. is a private family-owned Chicago (U.S.) based real estate development and property management services firm with varied interests in land, commercial property, and residential real estate. Its property management services affiliate manages quality commercial and residential properties located in Illinois, Indiana and Arizona. Many of its residential communities in the Chicago metro area are situated within easy walking distance of Lake Michigan, Lake Shore Drive, and downtown Chicago's entertainment, dining, and nightlife districts. BMG was founded more than 30 years ago by the Becovic family after emigrating to the U.S.

For more information about Becovic Management Group, please visit http://www.BecovicHoldings.com. Press queries may be made to BMG press spokesperson, Amy Giggins, at Adventure Entertainment iMedia by visiting http://www.adventureEC.com.

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Amy Giggins
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