Strategy International I... (CE) (USOTC:SGYI)
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Strategy International Insurance Group, Inc.
(OTCBB:SGYI), a provider of specialty lines of insurance, reinsurance
and structured risk underwriting focusing on credit risk and credit
enhancement, announced today that its wholly owned subsidiary,
Strategy Investments LLC, has agreed to finance three developments by
Shell Vacations LLC.
Strategy Investments and Shell Vacations have entered into
agreements wherein Strategy Investments will provide financing for
three separate timeshare developments. These projects include the
Vino Bello Resort in Napa Valley, California; the Mountainside Lodge
Resort, Whistler, British Columbia; and the conversion of 80 units in
the Ilikai Renaissance Hotel, Waikiki, Hawaii. Strategy Investments
has provided equity that totals $27.5 million for the three projects.
In exchange for its $27.5 million investment, Strategy Investments
will own a 45% equity interest in the projects. Strategy Investments
believes that the three projects, collectively, will generate
revenues in excess of $30 million for Strategy Investments. It is
anticipated that the closing of the financing will occur on or before
December 15, 2005.
Napa Valley is home to California's premier wine region. The Vino
Bello Resort in Napa Valley is set upon one of the most desirable
locations for vacation development. The resort will be designed with
an old world, Tuscan/Italian theme that ensures the natural feel of
the Napa region, including its own private vineyard.
Mountainside Lodge is situated in the center of Whistler Village
and about a 2-minute walk to both the Whistler Mountain Gondola and
the Blackcomb Gondola. All hotel suites will be equipped with
well-appointed kitchens, fireplace, jet tubs and many have private
saunas. The city will be a key site for the 2010 Vancouver Winter
Olympics.
The Ilikai project is a Hotel conversion in Waikiki, Hawaii which
consists of units on the main beach area of Honolulu. The resort has
been the backdrop for several major television shows and home to a
long list of presidents, celebrities and dignitaries.
Commenting on this announcement, Stephen Stonhill, Chief
Executive Officer of Strategy International Insurance Group, Inc.
stated, "We are excited to partner with Shell Vacations on these
projects. Understanding the booming vacation industry, we believe
that financing these three projects will prove to be a lucrative
investment for both parties."
About Shell Vacations LLC
Shell Vacations is one of the nation's largest independent
vacation ownership operators with over 2,000 employees serving more
than 100,000 owners/members at 22 resorts located from Hawaii to
Eastern Canada. The company is also franchising its club systems and
has announced two franchise resorts in the past several months.
Please visit Shell Vacations website at
http://www.shellvacationsclub.com
About Strategy International Insurance Group, Inc.
Strategy International Insurance Group, Inc., a Texas corporation
is a publicly traded holding company for a group of financial service
companies that are located throughout the world. Strategy Holding
Company Limited is a wholly-owned subsidiary that sits at the top of
a group of insurance related organizations that include Strategy
Insurance Limited of Barbados, Strategy Insurance (Canada) Limited,
Strategy Underwriting Agency Limited and an equity interest in
ForestRe Holdings Ltd., ForestRe Ltd. and AgroForest Risk Management
Ltd (collectively, "ForestRe"). Strategy Holding Company Limited,
owns all of the insurance operations of which the key operating
insurance company is Strategy Insurance Limited. Strategy Insurance
Limited was incorporated in Barbados on December 23, 2003 under the
Exempt Insurance Act and is an operating insurance company.
Forward-Looking Statement
Statements in this press release which are not historical in
nature are intended to be forward-looking statements made in reliance
on the "safe harbor" of the Securities Exchange Act of 1934. The
Company cautions that forward-looking statements involve risks and
uncertainties that may cause actual results to differ materially from
those expressed or implied in such statements. When used in this
press release, words including "anticipate", "believe", "estimate",
"expect", "intend", "will", "could", "may and similar expressions, as
they relate to the Company or the Company's management identify
forward- looking statements. Such forward-looking statements are
based on the beliefs of, as well as assumptions made by and
information currently available to, the Company. Actual results could
differ materially from those contemplated by the forward-looking
statements as a result of certain factors, including but not limited
to, domestic and international business, economic and political
conditions and developments, competitive factors, pricing pressures,
capacity and factors affecting the insurance industry. Readers are
cautioned not to place undue reliance on these forward-looking
statements. The Company does not undertake any obligation to update
or revise any forward-looking statement.
Strategy International Insurance Group, Inc. (OTC Bulletin
Board:SGYI)