Trump Hotels & Casino Resorts, Inc. (THCR) (NYSE:DJT - news) announced today that for the third quarter ended September 30, 2000, consolidated net revenues and EBITDA (earnings before interest, taxes, depreciation, amortization and corporate expenses) were $388.9 million, and $93.4 million respectively compared to $385.9 million and $89.5 million reported for the same period in 1999. Consolidated revenues and EBITDA for the nine months period ended September 30, 2000, were $1,045.1 million and $208.8 million, respectively, compared to $1,063.0 million and $212.7 million, respectively, for the nine months period ended September 30, 1999. Net income for the third quarter was $9.0 million or $.41 per share, compared to a net loss of $67.5 million, or $3.04 per share in the 1999 quarter. Included in the current net income is a $1.2 million extraordinary gain, net of minority interest, resulting from the repurchase of debt. Consolidated net loss for the nine months period ended September 30, 2000, which includes a $9.5 million net extraordinary gain resulting from the repurchase of debt, was $12.4 million ($.56 per share) compared to a $99.3 million loss ($4.47 per share) for the nine months period ended September 30, 1999. The third quarter 1999 and nine month 1999 loss includes a $81.4 million charge, net of minority interest for the closing of Trump World`s Fair and a $10.9 million gain, net of minority interest, from the termination of the All Star Caf lease. The 1999 nine-month loss also includes a $3.6 million charge for the cumulative effect of an accounting principle change.

Trump Taj Mahal Associates reported net revenues of $170.1 million and EBITDA of $48.3 million for the three months period ended September 30, 2000. Net revenues for three months ended September 30,1999 were $150.5 million and EBITDA was $33.8 million. For the nine months period ended September 30, 2000, net revenues and EBITDA at the Taj Mahal were $451.5 million and $110.1 million respectively, compared to $ 418.7 million and $89.1 million, respectively, for the same period in 1999.

Donald J. Trump Chairman and Chief Executive Officer said ``I am pleased with the Taj Mahal`s resurgence over the prior year. The improved volumes and margins are a testimony to Mark Brown and his management team. They have orchestrated this turnaround by focusing on the basics of good service, motivated employees and cost consciousness. The gaming patron at the Taj Mahal experiences a new level of service starting with valet parking and hotel check-in and continuing through all areas of the casino floor. The employees throughout the company are functioning as a coordinated team and are recognized as key to achieving plan targets by improving our patron`s experience. The improved margins at the Taj Mahal flow from these improved service levels as well as a tight control of costs``. Mark Brown, President of the Trump hotels noted ``This combination of improved service on the casino floor, effective marketing plans and a better-motivated work force enabled the Taj Mahal this year to attain 15 (including 7 in this third quarter) out of the top 20 slot win days since the property`s opening. The 17.8% hold in the third quarter 2000, compared to the 14.4% hold in the third quarter 1999 favorably impacted EBITDA.``

Trump Plaza Associates reported net revenues of $97.4 million and EBITDA of $18.1 million for the quarter ended September 30, 2000, versus net revenues of $117.0 million and EBITDA of $31.0 million for the same period in 1999. For the nine months period ended September 30, 2000, Trump Plaza reported net revenues of $268.8 million and EBITDA of $40.2 million compared to net revenues of $312.1 million and EBITDA of $65.2 million for the nine months period ended September 30, 1999.

The Plaza`s poor year continued. The year over year decline for the quarter has been exacerbated by the strong hold percentage in 1999 (17.6%) compared to a below normal hold (14.1%) in 2000. September 2000 proved a bell weather month given that the Plaza showed improved year over year slot revenues, irrespective of the fact that the World`s Fair was still open during September 1999. Mark Brown commented ``Larry Mullin and his staff have been addressing the prior performance by bringing new machines onto the casino floor, adjusting the floor layout to provide better customer service and implementing a more effective marketing plan which controls costs and attracts more profitable business.

Trump Marina reported net revenues of $90.1 million and EBITDA of $21.9 million for the quarter ended September 30, 2000. Net revenues for the quarter ended September 30, 1999, were $83.5 million and EBITDA was $19.6 million. For the nine months period ended September 30, 2000, Trump Marina reported net revenues of $228.0 million and EBITDA of $44.7 million compared to net revenues of $223.7 million and EBITDA of $42.3 million for the nine months period ended September 30, 1999. Mr. Trump noted, ``Trump Marina has been the most consistent performer of all the Trump properties. Since 1996 the property`s EBITDA has risen each year. Wendy Vogt, our acting Chief Operating Officer at the property, has continued to follow Mark Brown`s model of keeping the Marina`s ``hip image`` through its ``Wild Side`` campaign. The access issues to the Marina District from the new tunnel and the Atlantic City Expressway have been resolved, which should greatly benefit the Marina when the tunnel opens next year.``

Trump Indiana reported net revenues of $31.3 million and EBITDA of $5.1 million for the third quarter ended September 30, 2000. Net revenues for the quarter ended September 30, 1999, were $34.9 million and EBITDA was $5.0 million. For the nine months period ended September 30, 2000, Trump Indiana reported net revenues of $96.8 million and EBITDA of $13.9 million compared to net revenues of $108.5 million and EBITDA of $16.1 million for the nine months period ended September 30, 1999. Mr. Brown noted Trump Indiana`s third quarter posted a strong 16.3% EBITDA margin in 2000 compared to 14.3% in 1999. ``Cathy Walker, our new General Manager in Indiana, has been a welcome addition.`` With prudent marketing and cost controls, EBITDA rose slightly for the quarter irrespective of a $3.6 million drop in net revenues. The land needed to build the parking facility to be used by both Buffington Harbor Riverboats has been purchased through a joint venture and the construction has commenced. ``We will be much more competitive with other Northern Indiana properties with the completion of this two thousand car garage in 2001. The passage of dock-side gaming eliminating the cruising requirement would also enhance our performance and put us on a level playing field with the boats in Illinois`` he said.

Trump Atlantic City Associates reported combined net revenues of Trump Plaza and Trump Taj Mahal for the quarter ended September 30, 2000, of $267.5 million versus $267.5 million for the quarter ended September 30,1999. EBITDA was $66.4 million compared to EBITDA of $64.8 million for the same period of 1999. For the nine months period ended September 30, 2000, Trump Atlantic City Associates reported net revenues of $720.4 million and EBITDA of $150.3 million compared to net revenues of $730.8 million and EBITDA of $154.3 million for the nine months period ended September 30,1999.

Trump Hotels & Casino Resorts, Inc. owns and operates Trump Plaza Hotel & Casino, Trump Taj Mahal Resort and Trump Marina Hotel Casino in Atlantic City, NJ, as well as Trump Indiana, the riverboat casino at Buffington Harbor, Indiana on Lake Michigan. It is the exclusive vehicle through which Trump will engage in new gaming activities in both emerging and established gaming jurisdictions in both the United States and abroad.

The Private Securities Litigation Reform Act of 1995 provides a ``safe harbor`` for forward-looking statements so long as those statements are identified as forward-looking and are accompanied by meaningful cautionary statements identifying important factors that could cause actual results to differ materially from those projected in such statements.

All statements, trend analysis and other information contained in this release relative to THCR`s performance, trends in THCR`s operations or financial results, plans, expectations, estimates and beliefs, as well as other statements including words such as ``anticipate,`` ``believe,`` ``plan,`` ``estimate,`` ``expect,`` ``intend`` and other similar expressions, constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. In connection with certain forward-looking statements contained in this release and those that may be made in the future by or on behalf of THCR, THCR notes that there are various factors that could cause actual results to differ materially from those set forth in any such forward-looking statements. The forward-looking statements contained in this release were prepared by management and are qualified by, and subject to, significant business, economic, competitive, regulatory and other uncertainties and contingencies, all of which are difficult or impossible to predict and many of which are beyond the control of THCR. Accordingly, there can be no assurance that the forward-looking statements contained in this release will be realized or that actual results will not be significantly higher or lower. Readers of this release should consider these facts in evaluating the information contained herein. In addition, the business and operations of THCR are subject to substantial risks, which increase the uncertainty inherent in the forward-looking statements contained in this release. The inclusion of the forward-looking statements contained in this release should not be regarded as a representation by THCR or any other person that the forward-looking statements contained in the release will be achieved. In light of the foregoing, readers of this release are cautioned not to place undue reliance on the forward-looking statements contained herein.

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