Trump Hotels & Casino Resorts, Inc. (“THCR” or the “Company”) (NYSE: DJT) today reported record earnings and EBITDA - the best first quarter in its history.

THCR`s EBITDA (defined as earnings before interest, taxes, depreciation, amortization, CRDA, debt renegotiation expenses and corporate expenses) for the quarter ended March 31, 2002 increased to $74.1 million - $23.3 million higher than the $50.8 million reported for the quarter ended March 31, 2001 - a 45.9% increase. Consolidated net revenues (defined as gross revenues less promotional allowances) for the quarter ended March 31, 2002 increased to $301.2 million from $281.5 million reported for the quarter ended March 31, 2001.

“Since I reorganized management responsibilities of the Company in mid-2000, a solid turnaround has taken place. 2001 was the Company`s best yearly EBITDA since going public. The back-to-back quarterly increases in EBITDA of $21.3 million in the fourth quarter of 2001 over the same quarter in 2000, and the $23.3 million in the first quarter 2002 over the same quarter in 2001 are a strong affirmation of our business plan,” said Donald J. Trump, Chairman, President and Chief Executive Officer of THCR. Mr. Trump added, “Albeit very early in the period, the second quarter results are equally encouraging.”

THCR`s net loss for the quarter ended March 31, 2002 decreased to $4.6 million, or $0.21 per share (net of minority interest of $2.6 million), compared to a net loss of $16.9 million, or $0.77 per share (net of minority interest of $9.7 million), for the quarter ended March 31, 2001. The net loss for the quarter ended March 31, 2002 includes $2.1 million of debt renegotiation costs.

Donald J. Trump said, “Mark Brown, his management team and I have worked diligently to bring out the best in each of our Atlantic City Properties and our Indiana Riverboat. These improved results are attributable, in part, to our dedicated employees.”

Trump Taj Mahal Associates reported an increase in net revenues to $127.3 million for the quarter ended March 31, 2002 and an increase in EBITDA to $33.8 million, compared to net revenues for the quarter ended March 31, 2001 of $116.7 million and EBITDA of $22.8 million.

Mark A. Brown, President and Chief Operating Officer, commented, “I am proud of continuing record results at the Taj. Our total team effort has produced the highest EBITDA for any first quarter in the property`s history. Our emphasis on higher margin business yielded during this quarter 6 out of 20 of our top slot win and slot handle days since the property`s opening. To produce these kinds of numbers, we needed good slot product, well targeted marketing programs executed under stringent cost controls and superior customer service. These basics coupled with a mild winter and favorable table hold percentage allowed us to reach these first quarter records.”

Trump Plaza Associates reported an increase in net revenues to $78.2 million for the quarter ended March 31, 2002, compared to $76.2 million for the quarter ended March 31, 2001, and an increase in EBITDA to $17.5 million for the quarter ended March 31, 2002, compared to $12.0 million reported for the quarter ended March 31, 2001.

Mr. Brown added, “The Plaza continues to re-establish itself as the centerpiece of the Boardwalk. The same efforts that brought about the over $16 million increase in EBITDA in 2001 have carried over into the first quarter of 2002 where the Plaza achieved its highest EBITDA for any first quarter in its history. Like the Taj Mahal, the Plaza`s combination of slot product, marketing programs, superior service and cost controls results in a great start for the year. Management`s cost controls have turned a 2.6% increase in net revenues into a 45.8% increase in EBITDA.”

Trump Marina reported an increase in net revenues to $63.8 million for the quarter ended March 31, 2002, compared to net revenues of $58.3 million for the quarter ended March 31, 2001, and an increase in EBITDA to $14.7 million for the quarter ended March 31, 2002, compared to $9.1 million for the quarter ended March 31, 2001.

Mr. Brown said, “Records are being set at the Marina. It recorded its best first quarter EBITDA results since becoming part of the Company, and had two of its top ten slot handle days ever. More important than just surpassing volume slot handle records, the property improved its EBITDA margin to 23.1% in the first quarter 2002 - well above the 15.6% EBITDA margin set in the first quarter of 2001. The increasing traffic volumes to the property created by the new $330 million Atlantic City Tunnel to the Marina district along with the unique marketing image - again supported by great service, good product mix and cost consciousness - is reflected in the Marina`s results.”

Trump Indiana reported an increase in net revenues to $31.9 million and an increase in EBITDA to $8.1 million for the quarter ended March 31, 2002, compared to net revenues of $30.2 million and EBITDA of $6.9 million for the quarter ended March 31, 2001.

Mr. Brown commented, “By reconfiguring the gaming space - putting the emphasis on slots and adding new slot product - our gaming vessel continues to improve on prior periods. In the second quarter of 2002, we plan on expanding the gaming space and adding an additional 200 plus machines. This expansion will complement the opening of the 2,000-space parking garage adjacent to our vessel. These amenities should improve 2002 results. Additionally, we are hoping the State will allow dockside gaming either this year or next.”

Corporate expenses for the quarter ended March 31, 2002 were $3.0 million, compared to $2.1 million for the quarter ended March 31, 2001. The higher amount is attributable to a legal costs credit received in first quarter 2001. Also in the first quarter 2002, $2.1 million was expensed in our efforts to modify the terms of our existing public indebtedness.

For the quarter ended March 31, 2002, Trump Atlantic City Associates reported a combined increase in net revenues for Trump Plaza and Trump Taj Mahal to $205.5 million, compared to $193.0 million for the quarter ended March 31, 2001, and an increase in EBITDA to $51.3 million, compared to EBITDA of $34.8 million for the quarter ended March 31, 2001.

On April 15, 2002, THCR Management Services, LLC, an indirect, wholly-owned subsidiary of the Company (“THCR Management”), received approval from the National Indian Gaming Commission of its five-year management agreement with the Twenty-Nine Palms Band of Luiseno Mission Indians of California. Under the management agreement, THCR Management will manage the day-to-day operations of the Tribe`s recently renovated and expanded casino renamed Trump 29 Casino.

Trump 29 Casino opened on April 2, 2002 to record crowds. Mr. Trump stated, “I, along with our seasoned management team, am very enthusiastic about working with the Tribe. I believe the implementation of our first class management style and dedication to superior customer service will make Trump 29 Casino a premier gambling destination in the Palm Springs area.”

——-