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JTL Capital Acquires Unique Ocean-Front Property in Panama

June 20, 2007

Dallas-based JTL Capital, LLC announce today that it has closed on its acquisition of 1,200 acres of beachfront property in Panama.  The property is located on the west-facing coastline of the Azuero Peninsula, in the province of Veraguas, and boasts nearly two miles of Pacific Ocean frontage.  JTL partnered with Oakridge Investments, also of Dallas, on the acquisition.

The JTL-Oakridge partnership has a history of successful oceanfront acquisitions in Central America.  In 2005, the group acquired a 900 acre property in the Guanacaste region of Costa Rica and sold it in 2006 to RIU Hotels & Resorts of Spain.

"Our strategy in Panama is similar to the one implemented in Costa Rica," remarked David Lane, managing partner of JTL Capital.  "With all the advantages that Panama has over Costa Rica--superior infrastructure, development incentives, etc.--we feel this investment will yield even better results."

JTL envisions the property being developed into a world-class desination resort and residential community centered around a championship golf course and marina facilities.  The site could accomodate at least one boutique hotel, a Five-Star international resort, high-end condominiums and low-density single family.  Other amenities might include hiking, biking and ATV trails, equestrian facilities, and rainforest/wildlife discovery centers.

Founded in 1999, JTL Capital, LLC is a closely held, private real estate investment and development company based in Dallas, Texas.  JTL invests directly in buildings, land, leaseholds, mortgages and other real estate interests and employs a value-enhancement strategy to generate attractive risk-adjusted returns for the company and its investors.  This is JTL's third transaction outside of the U.S.  Previous international holdings include Las Ventanas al Paraiso, a Rosewood Resort in Los Cabos, Mexico and acreage in Guanacaste, Costa Rica.

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