Industrial News

"I'm proud of the quality we've achieved with this first phase of renovations at the resort," stated Mr. Isa Becovic, worldwide Managing Director of Becovic Holdings, Inc, "it was important to the Becovic organization to show in this very first phase of renovation, our commitment to quality facilities and quality service, for our guests. Now we can focus on Phase 2 and Phase 3. We've begun." Becovic Holdings Inc. purchased the Hotel Mediteran Resort in July 2005 from the Bankruptcy Court of Podgorica (Montenegro), with plans to redevelop the property into a first-class coastal destination resort. Its Phase 1 renovation marks the completion of the company's first step towards this goal.

The resort's guestroom refurbishment includes all-new solid wood furniture, including new wardrobes, desks, sitting chairs, mirrors, bed frames, and patio furniture. All new doors and windows have been installed. Finishing touches for the guest rooms include new heating and air conditioning systems, satellite television, draperies, and all new bedding and bath towels. The resort's reception area has been refurbished, including an Internet Cafe' in the lobby, and television viewing lounge adjacent to The Deck bar. The Hotel Mediteran Grand Ballroom boasts new carpeting, drapes, and lighting, and a refurbished catering kitchen. The ballroom, the largest clear-span event facility in the region, has already hosted wedding and other social gatherings involving more than 500 guests per event.

"As a new General Manager for the resort, I can't tell you how terrific it feels to see the Becovic commitment to guest service," said James T. Costa, General Manager of the Hotel Mediteran Resort, "and I've got a great story to tell with the additional amenities and facilities coming with Phase 2 and Phase 3 of the property's redevelopment. We're returning a grand old facility to its former glory." The Phase 2 and Phase 3 redevelopment program for the resort, includes a new guestroom tower with 4-star quality fittings, a spa offering natural treatments from the neighboring sea pine forests, a major casino complex, fitness center, and indoor-outdoor pool features. 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 hotel's terrace - now dubbed "The Deck." Views of sunset over the Adriatic Sea from The Deck are well known in the region and considered by some as among the most spectacular in the greater Mediterranean coastal region. The resort also overlooks the beach, public promenade, and 2,000-year-old historic town of Ulcinj.

Becovic Holdings, Inc. is a privately-held U.S.-based investment organization, based in Chicago, 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 just a short stroll from Lake Michigan, Lake Shore Drive, and downtown Chicago's entertainment, dining, and nightlife districts. Becovic Holdings, Inc. and related entities trace their roots back more than 30 years, when the Becovic family emigrated to the U.S. from what has now become the new nation of Montenegro.

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 Resort, please call (in Montenegro) at +382 (0)85 403 124 or by visiting the resort's website (www.Hotel-Mediteran.com)

Further information about Becovic Holdings Inc is available by visiting the company's website (www.BecovicHoldings.com). Contractors, vendors, and suppliers interested in bidding on next phases of the resort's redevelopment, should contact BHI owner's rep Stonecreek LLC for more information by visiting the firm's website (www.stonecreekllc.com).

Queries concerning this media release may be made to BHI press representative Adventure Studios iMedia (www.adventurestudios.com) by phoning (in the U.S.) at +1 (818) 973-3157.