PARADISE ISLAND, The Bahamas, April 18, 2001 - Sun International Hotels Limited (NYSE: SIH) today announced that the closing of the sale of the Resorts Casino Hotel to an affiliate of Colony Capital LLC is scheduled for April 26, 2001.  
 

At the Closing, the Company will receive approximately $126 million in cash and $17.5 million of Subordinated Notes.  The Subordinated Notes will have a maturity of seven years and bear interest at 12.5% per annum.  The interest is payable 50% in cash and 50% in additional Subordinated Notes.  The $126 million in cash will be used to permanently reduce debt under the

Resorts Casino Hotel, the former  historic Chalfonte-Haddon Hall, in  1978 became the first casino to  open on the Boardwalk

Sun International Hotels Limited is an international resort and gaming company that develops, operates and manages premier resort and casino properties.  The Company currently operates or manages resort hotels and/or casinos in The Bahamas, Atlantic City, Indian Ocean and Dubai.  In addition, the Company earns income based on the gross revenues of the Mohegan Sun Casino, operated by an unaffiliated entity in Connecticut.

The Company�s largest property is Atlantis, a 2,317-room resort and casino located on Paradise Island, The Bahamas.  The ocean-themed environment of Atlantis includes a 14-acre saltwater marine life habitat which features the world�s largest open air aquarium, showcasing over 100 species of marine life, waterfalls, lagoons, adventure walks and a clear tunnel submerged in a predator lagoon through which visitors can walk and be surrounded by sharks, sea, turtles, stingrays and other marine life.

Certain statements and information included in this release constitute �forward-looking statements� within the meaning of the Federal Private Securities Litigation Reform Act of 1995.