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Sandals Acquires Dragon Bay Beach Resort

Sandals Resorts International assumed ownership of the Dragon Bay Beach
Resort in Port Antonio, Jamaica on Friday, March 22. This follows the
successful completion of negotiations with the former owners Albert Abela
Corporation and SSI Cayman Limited last week. The resort will be
temporarily closed to facilitate an extensive refurbishing and
modernization exercise and is expected to reopen for business this Fall.
During its closure, Dragon Bay will be transformed into a sophisticated
all-inclusive resort of the standard of Beaches Royal Plantation, which
recently acquired a Five Star Diamond classification.

The 90-room Dragon Bay Resort is nestled on fifty-five acres of lush
tropical foliage in a secluded and tranquil area around Dragon Bay, on
Jamaica`s Northeast coast. The resort is surrounded by splendid waterfalls
and has been the location for the filming of several movies including
`Lord of the Flies` and `Cocktail`.

The acquisition of Dragon Bay Beach Resort brings to 18, the number of
hotels in the Sandals chain. Sandals is the largest operator of luxury,
Ultra all-inclusive resorts in the Caribbean. Sandals has a total of 10
couples only resorts, including six in Jamaica, two in St. Lucia, one in
Antigua and one in Nassau, Bahamas.  Beaches Resorts, the newest addition
to the Sandals family, welcomes singles, couples, families and friends.
There are six Beaches Resorts: two in Ocho Rios, Jamaica, two in Negril,
Jamaica, one in Providenciales, Turks & Caicos and one opening in June
2002 in St. Mary, Jamaica.