Trump Hotels & Casino Resorts (THCR) has submitted a formal proposal to the Indiana Gaming Commission (IGC) in a significant step toward building and operating a $123.5 million casino property in Orange County Indiana. The casino itself
would employ more than 600 workers upon opening in early 2006.“We are very excited about this opportunity,” said Donald J. Trump,
president, chairman and CEO of Trump Hotels & Casino Resorts. “In keeping
with our hard-earned reputation for exceptional facilities and unequaled
service, we have designed this proposal to be first class in every way.”

The THCR proposal includes construction of a riverboat-style gaming
facility; purchase and completed restoration of the historic West Baden
Springs Historical Landmark; and financial support for improvements to
additional area landmarks including the French Lick Springs Resort and Spa
and the Indiana Railway Museum. In addition to an up-front contribution of
$2 million, THCR proposes an ongoing allocation of one percent of adjusted
gross revenue from the casino to the Historic Hotel Preservation
Commission to assist in local renovation and development.

“With the continued success of the Trump Casino property in Gary and the
current strength of the Trump brand, the time is right for us to expand
our business in Indiana and to strategically continue the diversification
of our operations,” said Scott Butera, executive vice president and
director of corporate and strategic development for Trump Hotels & Casino
Resorts.

THCR is a seasoned Indiana business having operated a casino property in
Gary, Ind., since 1996. In addition to creating a successful business,
Trump Casino Hotel draws nearly 80 percent of its employees from the local
county and has contributed millions of dollars to local communities for
civic, safety and entertainment projects as well as scholarships for local
students.

The proposed designs for the restoration and new construction will
preserve and enhance the history of Orange County and create a marketable
vacation destination to restore the flow of visitors who flocked to the
region’s mineral springs and other attractions in the early 1900s. The
plan also includes potential enhancements to the area’s world-class golf
courses to be led by southern Indiana native and former Masters and U.S.
Open champion Fuzzy Zoeller.

“Orange County has a rich history of tourism and gaming,” said Robert M.
Pickus, executive vice president and general counsel of Trump Hotels &
Casino Resorts. “We look forward to partnering this new gaming facility
with the existing landmarks and attractions to create a vacation
experience that will be unmatched in this part of the country.”

Orange County is located in the south central portion of Indiana between
Indianapolis and Louisville, Ky. It encompasses the towns of French Lick,
Orleans, Paoli and West Baden. Area residents lobbied state legislators
for several years in an attempt to obtain a casino license for the
economically depressed region. After the Indiana General Assembly approved
the license in 2003, Orange County voters confirmed it with a referendum
vote in the November election.

“The people of Orange County and the surrounding areas have worked very
hard to get to this point,” said Pickus. “We are anxious to become an
integral part of this winning team as the project moves forward.”

The IGC and HHPC will review the THCR proposal along with those of any
other respondents over the coming weeks and months. It is currently
estimated that a casino operating partner will be chosen by late July 2004.
——-