SANTO DOMINGO, Dominican Republic, April 2, 2008 /PRNewswire/ -- Cap Cana S.A. ("Cap Cana") reported today that information published earlier this week relating to the Gomez Pion lawsuit against Cap Cana was incorrect and that no arrest warrant had been issued by a Dominican land court against Cap Cana's President and CEO, Ricardo Hazoury for allegedly failing to appear at a court hearing.

Mr. Gomez Pion has filed various claims against Cap Cana and its executive that in essence seeks payment of the equivalent of approximately US$8,000,000 for certain "improvements" that once existed on one of the parcels that currently comprise part of the Cap Cana property. These "improvements" consisted principally of items such as barbed wire fences, fence posts, plants, and grass for cattle grazing. On at least 12 separate occasions, Dominican courts have issued decisions on the Gomez Pion matter in favor of Cap Cana that effectively dismissed the suits brought by Gomez Pion.

In the latest allegations in respect of this situation, incorrect information was provided to the press suggesting that Ricardo Hazoury had not appeared in court for a previously scheduled hearing. The circumstances of this proceeding, as provided under Dominican Land Law, did not require Mr. Hazoury's presence. Notwithstanding this fact, Mr. Hazoury did appear before the court later that same day in an attempt to resolve any lingering confusion in the matter and during the hearing the court dismissed the claims by Mr. Gomez Pion regarding Mr. Hazoury's failure to appear. It is currently expected that the substantive claims in this matter that have been brought once more before a Dominican court by Mr. Gomez Pion will be concluded by next week and that the court will issue a decision regarding these claims yet again. Cap Cana currently expects that the court will once more decide in its favor in connection with the claims brought in this case.

Cap Cana also reported that no actions had been taken by any court in the Dominican Republic or elsewhere that has the effect of restricting Mr. Hazoury's ability to travel as had been previously reported.

About Cap Cana

Located on the easternmost tip of the Dominican Republic, Cap Cana is being developed as a multi-use luxury resort in the Caribbean with world-class beaches, championship golf courses, yachting facilities and other leisure amenities. The property consists of over 46 square miles (119.9 square kilometers) of land, including a five-mile (eight kilometer) coastline and 2.2 miles (3.5 kilometers) of one of the most pristine beaches in the region.

For further information contact: Alexander Hazoury Cap Cana S.A. Miguel Guerrero Alberto Larancuent No. 8 Phone: 809 695-5501 x3999 Santo Domingo, Dominican Republic Fax: 809-472-2696 Email: investor.relations@capcana.com

CONTACT: Alexander Hazoury, or Miguel Guerrero, +1-809-695-5501 x3999,
Fax: +1-809-472-2696, investor.relations@capcana.com, both of Cap Cana S.A.