Dutton Associates Announces Investment Opinion: Chilco River Holdings Neutral Rating In Update Coverage By Dutton Associates

  
    
  
  
    
      Dutton Associates updates its coverage of Chilco River Holdings 
      (OTCBB:CRVH) maintaining a neutral rating. The 9-page report by Dutton 
      senior analyst Gerald F. LaKarnafeaux, CFA, is available at www.jmdutton.com 
      as well as from First Call, Bloomberg, Zacks, Reuters, Knobias, and 
      other leading financial portals.
    
    
      The core business and assets of Chilco River Holdings, Inc. is the Bruce 
      Hotel and Casino (Bruce) located in Lima, Peru. Prior to the merger with 
      the publicly traded shell company, Chilco, on July 15, 2005, Bruce was 
      owned and operated by the private company Kubuk International. In 
      contemplation of the merger with Chilco and the resultant access to the 
      public capital markets, the Kubuk management, we opine prematurely, 
      closed the Bruce casino operations to undergo an expansion and 
      renovation (the project) of the highly profitable gaming facility. The 
      project was estimated to cost $5 million. By closing the casino 
      operations before securing a financing on favorable terms, the Company’s 
      cash flow from Bruce has been substantially reduced. In 2005, casino 
      revenues contracted by 70% to $2.6 million from the 2004 level of $8.8 
      million. Clearly, the premature closing of the Bruce casino and 
      management’s misplaced optimism regarding the 
      aborted financing proposal has undermined the stock’s 
      investment potential over the short term.
    
    
      About Dutton Associates
    
    
      Dutton Associates is one of the largest independent investment research 
      firms in the U.S. Its 31 senior analysts are primarily CFAs are have 
      expertise in many industries. Dutton Associates provides continuing 
      analyst coverage of over 140 enrolled companies, and its research, 
      estimates, and ratings are carried in all the major databases serving 
      institutions and online investors.
    
    
      The cost of enrollment in our one-year continuing research program is US 
      $35,000 prepaid for 4 Research Reports, typically published quarterly, 
      and requisite Research Notes. Dutton Associates received $35,000 from 
      the Company for 4 Research Reports with coverage commencing on 
      8/29/2006. We do not accept payment of our fees in company stock. Our 
      principals and analysts are prohibited from owning or trading in 
      securities of covered companies. The views expressed in this research 
      report accurately reflect the analyst's personal views about the subject 
      securities or issuer. Neither the analyst's compensation nor the 
      compensation received by us is in any way related to the specific 
      ratings or views contained in this research report or note. Please read 
      full disclosures and analyst background at www.jmdutton.com 
      before investing.
    
  
Dutton Associates updates its coverage of Chilco River Holdings
(OTCBB:CRVH) maintaining a neutral rating. The 9-page report by Dutton
senior analyst Gerald F. LaKarnafeaux, CFA, is available at
www.jmdutton.com as well as from First Call, Bloomberg, Zacks,
Reuters, Knobias, and other leading financial portals.

   The core business and assets of Chilco River Holdings, Inc. is the
Bruce Hotel and Casino (Bruce) located in Lima, Peru. Prior to the
merger with the publicly traded shell company, Chilco, on July 15,
2005, Bruce was owned and operated by the private company Kubuk
International. In contemplation of the merger with Chilco and the
resultant access to the public capital markets, the Kubuk management,
we opine prematurely, closed the Bruce casino operations to undergo an
expansion and renovation (the project) of the highly profitable gaming
facility. The project was estimated to cost $5 million. By closing the
casino operations before securing a financing on favorable terms, the
Company's cash flow from Bruce has been substantially reduced. In
2005, casino revenues contracted by 70% to $2.6 million from the 2004
level of $8.8 million. Clearly, the premature closing of the Bruce
casino and management's misplaced optimism regarding the aborted
financing proposal has undermined the stock's investment potential
over the short term.

   About Dutton Associates

   Dutton Associates is one of the largest independent investment
research firms in the U.S. Its 31 senior analysts are primarily CFAs
are have expertise in many industries. Dutton Associates provides
continuing analyst coverage of over 140 enrolled companies, and its
research, estimates, and ratings are carried in all the major
databases serving institutions and online investors.

   The cost of enrollment in our one-year continuing research program
is US $35,000 prepaid for 4 Research Reports, typically published
quarterly, and requisite Research Notes. Dutton Associates received
$35,000 from the Company for 4 Research Reports with coverage
commencing on 8/29/2006. We do not accept payment of our fees in
company stock. Our principals and analysts are prohibited from owning
or trading in securities of covered companies. The views expressed in
this research report accurately reflect the analyst's personal views
about the subject securities or issuer. Neither the analyst's
compensation nor the compensation received by us is in any way related
to the specific ratings or views contained in this research report or
note. Please read full disclosures and analyst background at
www.jmdutton.com before investing.