Caneel Bay Resorts Acquired By CBI Acquisition LLC

WESTPORT, Conn.--()--May 13, 2004--Equis Financial Group and its affiliates announced today that it acquired, through CBI Acquisition LLC, the award winning Caneel Bay, a Rosewood resort on St. John Island in the U.S. Virgin Islands, http://www.caneelbay.com. In addition to Equis, other principal shareholders and investors of CBI Acquisition LLC include Rosewood Hotels & Resorts, who has managed Caneel Bay since 1993, and Howard Guja, President and CEO of Roebling Advisors LLC, who has facilitated some of the largest residential and commercial real estate transactions in the nation.

Caneel Bay offers idyllic seclusion in the 5,000-acre Virgin Islands National Park on the island of St. John. Set on its own peninsula and bordered on all sides by the Atlantic Ocean and Caribbean Sea, Caneel Bay is made up of seven separate beaches, one for each day of the week. Caneel Bay, founded by Laurance Rockefeller, provides an escape for guests to relax and renew.

"We are excited to add Caneel Bay to our company's resort portfolio which includes Kirkwood Mountain Resort and Durango Mountain Resort," said Gary Engle, CEO of Equis. "We are always searching for compliments to our existing investments and Caneel Bay is a great addition to our real estate portfolio which includes extensive real estate holdings in Florida, The Village of Kettle Valley in Kelowna, British Columbia, Canada (www.kettlevalley.com), and an exclusive residential development in Malibu, Calif. Along with our investment partners, we look forward to preserving the history of Caneel Bay, while investing in the resort's future."

Equis Financial Group is a private equity firm headquartered in Westport, Conn., with business operations in real estate and financial services. During the past 20 years, Equis and its portfolio of companies have acquired, participated in, arranged and advised on transactions in excess of US $2.5 billion.

Contacts

Equis Financial Group, Westport
Brenda Broadhurst, 203/341-0555
bbroadhurst@equisgroup.com

Contacts

Equis Financial Group, Westport
Brenda Broadhurst, 203/341-0555
bbroadhurst@equisgroup.com