CELEBRATION, Fla. – (May 30, 2006) – The Ginn Company has officially announced that their planned resort community on the West End of Grand Bahama Island is named “Versailles sur Mer SM.”

In December 2005, The Ginn Company acquired an extensive holding comprised of 1,957 acres at the West End of the island and has committed to carrying out a $3.7 billion world-class resort community that will contain the following components:

    1. • 4,400 condominium and hotel units, centered around a 20-story tower
    2. • 1800 single family residential homesites
    3. • Two Signature golf courses and clubhouses
    4. • Two large marinas and a private airport with customs facilities
    5. • A casino, water and swim pavilions, a beach club and spa

    In regard to luxury and scope, it will serve as The Ginn Company’s flagship Caribbean development.

    “Versailles sur Mer promises to offer a club lifestyle unparalleled by any other resort in the Caribbean and beyond,” said The Ginn Company President and CEO Bobby Ginn.

    This destination resort will reflect the timeless, regal elegance of its French namesake, but will have distinctly Bahamian architectural features.

    Bahamian Prime Minister Perry G. Christie has said of the Ginn project, “This will be the largest resort community project ever to be undertaken in The Bahamas.”

    The company has already spent over $10 million as part of the preparation for the development. During peak construction time, 2,000 construction employees will be needed and upon completion, approximately 4,000 jobs will have been created to maintain daily resort operations. For more information, visit VersaillesSurMer.com