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Trump Hotels Commences Recapitalization Proceedings

Trump Hotels & Casino Resorts, Inc. has commenced its recapitalization plan previously announced on October 21, 2004 (the “Plan”) in Camden, New Jersey. The Company’s Plan is supported by an overwhelming majority of the Company’s bondholders, as outlined in the support agreement entered into with such bondholders and Donald J. Trump on October 20, 2004. As part of the Plan, the Company has arranged for a $100 million interim facility from Beal Bank at an interest rate of LIBOR plus 1.50% (the “Facility”). Proceeds from the Facility, which will be secured by a lien on substantially all of the Company’s assets, are expected to be used for general corporate purposes, including capital expenditures, wages, trade and vendor contracts, and leases.

Donald J. Trump, the Company’s Chairman and Chief Executive Officer, commented on the commencement of the proceedings, “It has been a great honor and privilege to deal with and get to know the bondholders and their representatives. The process has been a very constructive one and should reap great benefits for everyone in the years to come. This is a Company with one of the best brands in the world and with great potential.” Scott C. Butera, the Company’s President and Chief Operating Officer, added, “We are pleased to file for court approval with such overwhelming support for our Plan. We anticipate that the court approval process will be efficient, and we are excited about the financial benefits which the Company should realize from this process.”

The Company has established a website,, to provide the public and interested parties with information and updates regarding the Plan.