Trump Hotels & Casino Resorts, Inc. (NYSE:DJT) today announced record EBITDA of $38.2 million for the fourth quarter ended December 31, 1997 as well as 45 percent increases in both revenues and EBITDA for the year. The Company reported results for the fourth quarter ended December 31, 1997 of consolidated net revenues of $313.5 million, compared to $325.1 million for the same period of 1996. Despite the slight decline in revenues, EBITDA (earnings before interest, taxes, depreciation, amortization, non-operating income/expense, CRDA and extraordinary items) for the quarter increased 14.1 percent to $38.2 million versus $33.5 million in the prior year. Net loss for the period decreased to $28.0 million or $1.24 per share, compared to a net loss of $30.9 million, or $1.28 per share in the 1996 fourth quarter. Included in the 1997 net loss are non-operating costs of $6.2 million ($0.17 per share) including the charge off of development expenses related to Detroit, Niagara Falls and other jurisdictions.

For the twelve months ended December 31, 1997, the Company reported a 45 percent increase in consolidated net revenues reaching $1.4 billion compared to $967.0 million for the same period in 1996. EBITDA net of corporate overhead increased 45 percent reaching $246.4 million for the twelve months versus $170.1 million for the 1996 period. The net loss declined to $42.1 million or $1.85 per share for the twelve months ended December 31, 1997 compared to $65.7 million, or $3.27 per share, for the same period of 1996.*

1997 was a watershed year for Trump Hotels & Casino Resorts with all of the Trump casino assets finally under one roof for the entire twelve month period. As anticipated, this resulted in increased revenues and operating income for the year. EBITDA for the year at the individual operating companies exceeded $260 million, with the Taj contributing $127 million, the Plaza $70 million, the Marina $40 million and $23 million coming from Buffington Harbor.

While challenges remain, our management team has excelled in fine tuning these assets for maximum return in the months ahead. Each property can stand alone, and together they are a power house in Atlantic City and a strong competitor in Indiana. We intend to explore new markets in 1998 and are increasingly return oriented as indicated by our recent retention of Donaldson, Lufkin & Jenrette and Bear, Stearns to explore strategic alternatives for our company.

Fourth Quarter 1997 Results:
Trump Atlantic City Associates reported combined net revenues of Trump Plaza and Trump Taj Mahal for the 1997 fourth quarter of $225.1 million, EBITDA of $34.9 million and a net loss of $17.4 milllion, compared to fourth quarter 1996 net revenues of $233.6 million, EBITDA of $31.0 million and a net loss of $25.1 million.

Trump Plaza Associates reported net revenues of $94.8 million for the quarter ended December 31, 1997, compared to $98.2 million for the same period in 1996. EBITDA for the fourth quarter improved to $12.0 million compared to $11.0 million in the 1996 period.

Trump Taj Mahal Associates reported net revenues of $130.2 million for the 1997 fourth quarter versus $135.3 million reported in 1996. EBITDA increased to $22.8 million in 1997 compared to $20.1 million reported in 1996.

Trump Marina reported net revenues of $61.5 million for the three months ended December 31, 1997 compared to $61.6 million reported for the same period in 1996. EBITDA for the quarter improved to $4.5 million versus $2.5 million reported in the prior year.

Trump Indiana at Buffington Harbor reported fourth quarter net revenues of $26.9 million in 1997 compared to $36.8 million in 1996. EBITDA was $2.6 million for the quarter compared to $5.4 million in 1996, reflecting increased operators in that market.

1997 Year-End Results:
Trump Atlantic City Associates reported combined net revenues of $982.3 million and EBITDA of $197.0 million for the twelve-month period, up from net revenues of $829.5 million and EBITDA of $172.7 million for the year ended 1996.*

Trump Plaza Associates reported twelve-month net revenues of $414.3 million in 1997 up from $409.0 million in 1996. EBITDA was $70.0 million versus $70.2 million reported for the same period in 1996.

Net revenues for Trump Taj Mahal Associates increased slightly to $567.9 million in 1997, compared to $566.4 million in 1996. EBITDA improved to $127.0 million compared with $121.9 million in 1996. Although Taj`s table game win percentage again led the Atlantic City Industry in 1997, it was a full percentage point below 1996, which reduced the Company`s 1997 EBITDA by $11.8 million or $0.32 per share to THCR. Additionally, due in large part to the Taj`s newly-opened 2,000 space addition to its self-park garage completed in mid-1997, slot revenues grew $17.8 million (6.4 percent) and market share increased .5 points reaching 11.3 percent despite the increased capacity in the Atlantic City market caused by the entry of the Wild West Casino.

Trump Marina net revenues for the year ended December 31, 1997 increased to $284.7 million compared to $269.5 million for the same period in 1996. EBITDA rose dramatically to $40.0 million, compared with $23.0 million in 1996. Trump Marina`s substantially improved results are primarily attributed to the mid-year nautical re-theming of the property and more youthful new facilities and entertainment programs. Additionally, in 1997 the company`s table game win percentage recovered to 15.3 percent, a more normal level and second in the Atlantic City market.
Trump Indiana at Buffington Harbor reported net revenues of $132.4 million and EBITDA of $23.1 million for the year ended December 31,1997 compared to net revenues of $82.7 million and EBITDA of $9.9 million for the period from its inception on June 8, 1996 through December 31, 1996.

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