ICR's Chairman and CEO, Mr. Gene A. Keluche, stated that the Luxury Condominiums of the Village at Carefree Conference Resort will expand the resort from its current 249-room capacity to approximately 270 guestrooms and suites in 2000, 320 in 2001, and over 350 in 2002. The expansion will also add approximately 10,000 sf of dedicated state-of-the-art meeting facilities.

Each of the Luxury Condominiums of the Village at Carefree Conference Resorts has a double occupancy master and a junior suite.  The master suite features an oversized living room, dining area, kitchen, two baths and a full balcony; and the junior suite features a double occupancy bedroom, separate study, bath and a half and full balcony.

The Carefree Conference Resort is owned by an affiliate of Tiburon Capital, LLC, which recently purchased the 254-room Ocean Place Conference Resort in Long Branch, New Jersey. Both properties are managed by ICR, the industry's quality and performance leader, which also manages the award winning 326-room Scottsdale Conference Resort in Scottsdale, AZ, the 316-room Cheyenne Mountain Conference Resort in Colorado Springs, CO, and the 98-room Graylyn International Conference Center in Winston-Salem, NC.