STRATEGIC INTERNET INVESTMENTS, INCORPORATED SIGNS LETTER OF INTENT FOR PRE SALE & MARKETING OF THE DREAM ISLAND PROJECT
News Release: #1-04
Symbol: SIII
Exchange: OTC:BB
April 6, 2004
Shares issued: 17,293,596
Sec #33-28188
NEWS RELEASE
Strategic Internet Investments Incorporated (the “Company”) is pleased to announce that the Company in conjunction with Star Leisure & Entertainment Inc. have signed a Letter of Intent (“LOI”) with AL Misehal Real Estate & Mr. Adil Alaeiry Establishment, (the “Marketing Group”) outlining the terms and conditions of an agreement; wherein the Marketing Group will market, on a pre-sale basis, residential real estate consisting of Beach Villas and Marina Residence units from the Dream Island Project located at Manama, Bahrain.
Al Misehal Real Estate of Riyadh, in the Kingdom of Saudi Arabia has all necessary marketing experience and sales capabilities from initial sales contact though formal bid proposals and contract negotiations. Since inception, Al Misehal Real Estate has offered an unrivalled service in project management, sales and marketing through in-house specialists and through partners in the Europe and the USA (www.almisehal.com). Mr. Adil Alaeiry Establishment of Dammam, in the K.S.A. is a privately owned business with experience in real estate marketing and sales within the Gulf Council States.
The LOI contemplates that the Marketing Group and Star Leisure & Entertainment Inc. will form a joint venture Bahrain marketing company (the “Joint Venture Company”) and the Company will grant to the Joint Venture Company the exclusive right to pre-sell all residential units of the Dream Island Project.
The Marketing Group will commence their marketing initiative in the coming weeks. The Company anticipates a strong market for the Dream Island residential units. Should the units be fully subscribed for, the Company will have achieved a significant step in its financing plan for the Dream Island Project.
The Dream Island Resort Complex is to be a 16.5 hectare (41 acre) man-made island approximately 250 meters offshore along the northeast coast of Manama, Bahrain. The project will be US$132 million mixed-use resort development, comprised of a world-class hotel and Spa, Beach Villas and Marina Residence. Dream Island will be a self contained resort with world-class facilities including an aquarium, swimming pools, a full entertainment centre, water park, bowling and ice skating palace, boutiques, restaurants and cafes. Many other amenities will be offered including horse riding, health club, sports courts and a fully serviced marina, among others.
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Statements
regarding financial matters in this press release other than
historical facts are "forward-looking statements"
within the meaning of section 27A of the Securities Act of 1933,
Section 21E of the Securities Exchange Act of 1934, and as that
term is defined in the Private Securities Litigation Reform
Act of 1995. The company intends that such statements about
the Company's future expectations, including future revenues
and earnings, and all other forward-looking statements be subject
to the safe harbors created thereby. Since these statements
(future operational results and sales) involve risks and uncertainties
and are subject to change at any time, the Company's actual
results may differ materially from expected results.
