GREAT EXUMA, The
Bahamas - Grand Isle Resort & Spa has finalized its transition to
100% home-ownership with the sale of 31 remaining villas to Peter
Nicholson of Ottawa, Canada.

Nicholson purchased the units from
Textron, Inc, the financier who owned the units following default on the
part of the original developer. Over time, Nicholson intends to sell
most of the units he has purchased, and has already experienced several
sales. "Grand Isle is a gem. The location, staff, amenities and overall
extremely high quality levels are very impressive to our prospects. Of
the 31 units we purchased, four have already sold, and we have very high
interest on several others."