An invitation-only, "Big Bang Implosion" party for approximately 200 VIPs was hosted by Harbour Plaza Hotels Resorts, the company that manages the new resort complex. The Prime Minister of The Islands Of The Bahamas, The Right Honourable Hubert A. Ingraham, demonstrated his support of The Lucayan project by delivering the keynote address and "setting off" the building implosion at approximately 8:30 p.m., which was the highlight of the ceremony.

"We are delighted that the local community and visitors to Grand Bahama Island could join us for this historic event," said David Pantin, Senior Vice President and General Manager for The Lucayan. "The Lucayan is helping usher in a new era on Grand Bahama Island, and we are thrilled to be affiliated with what will become the ultimate Caribbean island destination."

"This event marks the beginning of the relaunch and redevelopment of tourism throughout Grand Bahama Island," said The Honourable C.A. Smith, Minister of Tourism for The Islands of The Bahamas. "We are thrilled that Harbour Plaza Hotels Resorts has selected Grand Bahama Island as the site of its new resort, and we are confident that the development will redefine Grand Bahama and draw additional visitors and new levels of visitor spending."

The Lucayan will have a wide appeal to both leisure and business markets. Situated on 3,000 feet of pristine beach, the resort will feature three distinctive hotel wings, three pool settings complete with waterslides and landscaped islands, a kids camp, 35,000 sq. ft. of indoor meeting and function space, a full-service spa, two 18-hole championship golf courses, five tennis courts, 20 restaurants, bars and lounges, a casino and the Village Market, a 10,000 sq. ft. retail promenade housing a variety of colorful shops, boutiques and dining establishments.

Phase I, with 550 guest rooms, is scheduled for completion in February 1999. Phase II, with an additional 250 rooms, villas and cottages, The Manor House registration area, convention center, the spa and The Reef Course will be finished in September 1999. The remaining 800 rooms, casino and other facilities will be completed by December 1999.

Harbour Plaza Hotel Management (International) Limited, a joint venture hotel management company owned by Cheung Kong (Holdings) Limited and Hutchison Whampoa Limited, has been formed to undertake management and operations of hotels, including The Lucayan. The Hong Kong based company operates under the trade name of Harbour Plaza Hotels Resorts. For information or reservations, consumers and travel agents may call 800-622-6770.