DOMINICAN REPUBLIC - June 2007 -  Elliott�, a leader in resort hospitality and real estate in the Dominican Republic, announced today an exclusive partnership with Dennis Publishing, the parent company of the world renowned Maxim Lifestyle brand, to launch �Maxim Bungalows� in two locations in the Dominican Republic. The two locations are Cofresi Beach on the country�s north coast in the Puerto Plata region and Juan Dolio on the south coast, close to the capital city Santo Domingo. 

�With the Dominican Republic becoming the newest hot spot in the Caribbean, it was finally time to build an ultra luxury resort for the new generation of traveler.  Our partnership with Maxim caters to travelers with disposable income who are looking for the next adventure,� said Derek Elliott, President and Chief Executive Officer of Elliott�.

Stephen Colvin, President and Chief Executive Officer of Dennis Publishing, Inc. said, �We are delighted to be in partnership with Elliott to create these superb 5 star destinations on this truly wonderful Caribbean island. Life is better when you are having fun and a vacation at the bungalows will turn grown adults into gushing children as they escape the stresses and strains of their daily lives and indulge in the numerous amenities available, such as a trip on the yacht to the private �Castaway Beach� for their own private BBQ and snorkeling.� 

Opening in October 2007, Maxim Bungalows at Cofresi Beach will feature 108 studio, one and two bedroom luxury bungalow accommodations for those looking for an escape from the city hustle and bustle. The resort is located only 30 minutes from the Puerto Plata Gregorio Luperon Airport and 60 minutes from the Cibao International Airport in Santiago. Guests staying at Maxim Bungalows will enjoy unparalleled luxury service. Each guest will be greeted at the airport and driven to the resort by a luxury SUV and given VIP access on and off property at all the top restaurants, bars and golf courses. 

Each bungalow will be appointed with 5 star amenities geared to sophisticated travelers including resort-wide WI-FI, iHome audio capabilities, plasma screen TVs, and superior personal care products.  Maxim guests will unwind and enjoy cocktails under the Caribbean sun whether it is by the pools, cabanas, lounge or beach reserved exclusively for the guests of the Maxim Bungalows. Maxim Bungalow guests will also be able to enjoy preferential access to The Spa, a new state of the art 17,000 square-foot spa and fitness center that offers a range of premier quality products and services for mind, body and soul. 

The 54 foot Maxim yacht, �Independence,� will be available exclusively for Maxim guests to charter for day trips and evening soirees. For surfing and kite boarding enthusiasts, Maxim Bungalows at Cofresi Beach are a short distance from the nearby village of Cabarete.  Guests will also enjoy active vacation adventures in the Puerto Plata region with scuba diving, sailing, white water rafting, hiking, golf and other local excursions. 

Maxim Bungalows at Juan Dolio, the second location selected for the Maxim Bungalows experience is scheduled to open in early 2008. Located on the south coast of the Dominican Republic overlooking the Caribbean Sea, the new beach resort is only 25 minutes east of the Santo Domingo Las Americas International Airport. Situated between the booming city of Santo Domingo and the resort town of La Romana, Maxim Bungalows will cater to people looking for a more urban experience found in places such as South Beach, Florida.

The 240 rooms will range from studio bungalows to Grand Presidential suites. Like the Maxim Bungalows at Cofresi Beach, each bungalow will be appointed with luxury amenities.  The resort features world class dining at three restaurants, a spectacular beachfront and an extensive pool surrounded by cabanas and a lounge. 

Situated in Juan Dolio, Maxim Bungalows are minutes away from some of the greatest golf courses in the Caribbean.  The Gary Player signature Guavaberry Golf Course is within 10 minutes of the property, and La Romana is just one hour away, where guests can enjoy the famous Teeth of the Dog and Dye Fore in the exclusive community of Casa de Campo. 

Founded in 1977 by Frederick Charles Elliott, Chairman and Founder, Elliott� continues its growth today in resort, hospitality, and entertainment industries. Mr. Elliott was joined by his son, Derek F. C. Elliott, President and Chief Executive Officer, as the company continued to grow its investment and real estate divisions. Elliott�s first investment in the Dominican Republic took place in 1987 and today, the company owns the Sun Village Resort & Spa brand and hosts the Annual Dominican International Film Festival at Sun Village Resort & Spa Cofresi each year in November. In addition to the annual film festival, Elliott� plays host to a number of location shoots for feature film productions. The Elliott Foundation was established to raise funds and respond to important causes throughout the Dominican Republic, and today is dedicated to developing and promoting programs that benefit those in need throughout the country. 
 

Frederick C. Elliott is both Founder and Chairman of Elliott, the dynamic parent company that manages and operates Sun Village Resorts. Mr. Elliott has been a successful entrepreneur in the financial services industry since 1967 when he completed his training with Mutual of Omaha. In 1969, Mr. Elliott joined Investor Syndicate Limited, for which he managed and led regional offices for 15 years, reaching stellar achievement levels and earning company-wide recognition, including four top producer and management leadership awards.  During this highly productive period, Mr. Elliott also took a significant leadership role in the creation of mutual funds and financial planning in the investment industry. In 1987 Mr. Elliott took his real estate investment experience further and began to utilize international structures with benefits not available to investors in the United States and Canada.  By 1994, investing in income-generating resort properties in the Caribbean had become Mr. Elliott�s primary focus.  In cooperation with his son, Derek E. C. Elliott, Fred Elliott began the development of a spectacular resort property in Cofresi Beach, Dominican Republic.  Since 1996, Mr. Elliott Has continued to play a key role in the equity financing and development of the Sun Village Resort & Spa, Cofresi Beach, Dominican Republic.

Dennis Publishing, Inc. is a media company that publishes the two most successful modern men's lifestyle magazines in America -- Maxim (2.5 million rate base) and Stuff (1.3 million rate base) -- along with general interest music magazine Blender (Advertising Age's Launch of the Year and Adweek's Hot List), and The Week, a compilation of the week's most important domestic and international news (Advertising Age's A-List). Maxim, Stuff, Blender and The Week are registered trademarks of Felix Dennis.