Montenegro's Hotel Mediteran in Scenic Coastal Town of Ulcinj to Provide a First Phase of Refurbished Guest Rooms for Summer 2007

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Becovic Holdings will complete the first phase of renovation of the Hotel Mediteran for the 2007 summer season bringing the scenic Montenegro coastal resort hotel to first-class operating status.

Representatives of the Hotel Mediteran announced today that the first phase of the resort's renovation and redevelopment will be completed in time for the 2007 Summer Season - the refurbishment of 100 guest rooms in five guest buildings overlooking the beach, public promenade, and historic town of Ulcinj.

"We plan to fully redevelop the entire resort facility, including the construction of a new guest tower by Summer 2008," stated Mr. Isa Becovic, Senior Vice President of Becovic Holdings and the company's senior executive-in-charge, "with this first phase of renovation we wanted to provide our guests with a tangible indication of our commitment to quality. The Hotel Mediteran will be a first-class destination resort in all respects. We're also proud to provide the first proprietary on-line reservation system for a first-class hotel in the Ulcinj costal region - which is now taking reservations, or guests can our reservations desk in Montenegro at +381 (0) 85-403-124 to make their vacation plans for this summer."

The resort's guestroom refurbishment includes all-new solid wood furniture for the guest units, featuring new wardrobes, desks, sitting chairs, mirrors and bed frames. New doors and windows have been installed, replacing those dating back to the resort's original construction some thirty years ago. Finishing touches for the guest rooms include new heating and air conditioning systems, televisions, draperies, and all new soft goods. Wireless Internet access will be available throughout the property. The reception building and Sunset Terrace music lounge are also being refurbished in preparation for this year's summer season. Most guest rooms feature spectacular views of the Adriatic Sea, the town's central beach and promenade, and the Old Town of Ulcinj.

"As we bring the Hotel Mediteran Ulcinj back to first-class status, we will create a place known for excellent guest service and a facility that will be a source of local community pride," continued Mr. Becovic. The Hotel Mediteran Resort at one time was a favorite of German, Italian, Russian and other European travelers. Among local residents, memories abound of nights filled with music on the 2nd Level Sunset Terrace Lounge overlooking the Adriatic Sea. The sunsets from the Hotel Mediteran's Sunset Terrace Lounge are well-known as among the most spectacular in the greater Mediterranean coastal region.

Becovic Holdings is a privately-held U.S.-based investment organization, with diversified interests in real estate development, property services, media, apparel, and tourism. The firm is affiliated with Becovic Propeties and Becovic Management Group, related entities involved with real estate investment, development, and property management in the U.S., with portfolio concentrations in Illinois, Indiana and Arizona. Many of Becovic Properties' premium residential communities in the Chicago metropolitan area are situated within easy walking distance of Lake Michigan, Lake Shore Drive, and downtown Chicago's entertainment, dining, and nightlife districts. Becovic Holdings and related entities trace their organizational foundation back more than 30 years, when the Becovic family emigrated to the U.S. from what has now become the new nation of Montenegro.

Becovic Holdings purchased the Hotel Mediteran in July 2005 from the Bankruptcy Court of Podgorica (Montenegro), with plans to redevelop the property into a first-class coastal destination resort. U.S. development project manager, Stonecreek LLC (http://www.StonecreekLLC.com), and Hotel Heads Limited (http://www.HotelHeads.com), a resort marketing consultancy based in Ireland, are among the project's team members. Prior to Becovic Holdings's acquisition, the property had been a resort and hospitality asset of Ulcinj-based hotel-tourist company, Ulcinjska Rivijera. The Montenegro coastal resort region, centered in Ulcinj, is considered to be the world's #1 tour and travel growth market for the next decade, according to the World Travel Tourism Council.

For more information or to make on-line reservations for summer 2007 at the Hotel Mediteran, please visit http://www.Hotel-Mediteran.com. Further information about Becovic Holdings is available at http://www.becovicholdings.com. Queries concerning this media release may be made to BMG press representative Adventure Studios iMedia (http://www.adventurestudios.com) by phoning +1 (818) 973-3157.

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AMY GIGGINS
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