| July 18, 2005 - Dolce International announced today that the Board
of Directors have decided not to accept any offers for recapitalization
of the company and have ended the process for bids. Dolce will retain continuity
of the management team and continue to pursue an aggressive growth strategy,
seeking other venues to acquire additional capital. Investors will
most likely market some assets for sale in the near term.
About Dolce International:
Dolce International is a leader in conference center hospitality, with
a collection of 21 unique properties in the United States, Canada and Europe.
Each property features a different style ranging from a historic castle,
to an authentic alpine village to a New England-style country resort, to
a French chateau to a traditional corporate learning center. All
Dolce conference centers meet the high standards (requirements) of the
International Association of Conference Centers (IACC). While Dolce
International's core business is meetings and conferences, the company
also caters to leisure travelers and offers a variety of venues for events.
Dolce International is currently the only American-based conference center
operator in Europe.
Headquartered in Montvale, New Jersey and Paris, France, the company
has approximately 4,000 employees. Dolce is celebrating its 25th
Anniversary in 2005. For more information, visit the web site at
www.dolce.com.
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