Quivira Los Cabos Construction Update

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Progress on Los Cabo's first Ritz-Carlton, Jack Nicklaus Community Ahead of Schedule.

Construction on Quivira continues

Quivira remains fully committed to bringing the first Ritz-Carlton and Jack Nicklaus-branded community to Los Cabos

Quivira Los Cabos is pleased to announce that construction on the $1.5 billion investment development project moves forward as planned. The first phase of the luxury residential resort community's infrastructure was recently completed and crews are now working on phase two -- ahead of schedule.

Phase two includes continuous construction on one of two planned Jack Nicklaus Signature Golf Courses within the development, which broke ground in late 2008 and is on track for the first 18 holes to be completed in early 2010. Crews are also working on the foundation, roads and infrastructure of the Nicklaus-branded community, a joint venture between Quivira and Jack Nicklaus announced in October 2008 that is expected to be one of the most exclusive beachfront and mountainside golf communities in the world.

In late January, Quivira hosted top executives from Marriott International, parent company of The Ritz-Carlton Hotel Company, for a site visit of the future home of The Ritz-Carlton Los Cabos, Quivira - an oceanfront resort. The proposed 200-room hotel was announced in April 2008 and is expected to be completed by 2011.

"Quivira remains fully committed to bringing the first Ritz-Carlton and Jack Nicklaus-branded community to Los Cabos," said Ernesto Coppel, the community's developer. "I am thrilled that everyone involved in this project shares in my commitment to forge ahead with plans, despite the current economic climate. This speaks volumes about Quivira."

Construction on The Residences at The Ritz-Carlton Los Cabos, Quivira also marches on. A model home of the area's first five-star branded address will be finished in May. The Residences and hotel are the cornerstone of the development and bring an unparalleled living experience to those who seek exclusivity, luxury, and comfort while remaining true to the casual elegance of the Cabo lifestyle

About Quivira:
Quivira Los Cabos unites the world's finest luxury brands within a residential resort community in an unmatched location on the tip of the Baja Peninsula in Los Cabos, Mexico. Joining Quivira are three of the most distinguished names including The Ritz-Carlton, Jack Nicklaus, and Pueblo Bonito Oceanfront Resorts and Spas. The Residences at The Ritz-Carlton Los Cabos, Quivira are Cabo's first and only luxury-branded address, complimented by The Ritz-Carlton Los Cabos, Quivira, an oceanfront landmark resort. Jack Nicklaus will debut a Nicklaus-branded community of approximately 200 homes with spectacular views and five-star service. Two Signature Golf Courses wind along the scenic coastline and Quivira boasts more oceanfront holes than any other development on the Baja Peninsula. A Jack Nicklaus Golf Club, one of only 25 worldwide, completes the unparalleled golf experience within Quivira. The acclaimed Pueblo Bonito Pacifica Holistic Retreat and Spa is a peaceful seaside escape offering serenity mixed with world-class service. Private and secluded, Quivira is set on 1,850- acres of rolling foothills with three miles of pristine beaches, yet only a mile away from downtown Cabo. For information, call 1-866-578-4847 or visit http://www.quiviraloscabos.com.

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