Released on: September 22, 2008, 10:03 am

Press Release Author: Costa Rican Development Corporation

Industry: Real Estate

Press Release Summary: Costa Rica’s Ministry of Environment and Energy will be
granting the national park system an impressive US$150 million for infrastructure
enhancements, likely leading to increased interest in the already booming real
estate sector.

Press Release Body: San Jose´, Costa Rica – The Costa Rican government’s Ministry of
Environment and Energy has decided to funnel US$150 million into the country’s
national park system, which will ultimately lead to increased real estate values,
particularly those of luxury retirement and vacation homes. The Costa Rican
Development Corporation (CRDC) anticipates a surge in the sales of its newly
developed Cerro Fresco estate community as a result of this elevated attention to
one of the country’s main attractions.

Twenty-five percent of Costa Rica’s land is currently in protected areas, including
those located in the twenty-six national parks. Known globally for its
biodiversity, Costa Rica is home to about six percent of the world’s animals and
plants. The diversity of plant and animal life is one of the reasons Costa Rica has
grown to be one of the top eco-tourism destinations in the world and a favorite
among retirees.

High-end foreign investors find the Costa Rica real estate market to be one of the
most profitable. New luxury home developments are one of the most popular choices
for these investors, and the Costa Rican Development Corporation’s Cerro Fresco
(www.cerrofresco.com/) community is one of the top choices. Promising a “premium
quality of life experience,” Cerro Fresco is situated near waterfalls, rainforests,
and tropical gardens, and is only a one-hour drive from one of the most
well-maintained, pristine national parks in Costa Rica, Manuel Antonio National Park
(Parque Nacional Manuel Antonio).

CRDC views the Ministry of Environment and Energy’s decision as a very positive one
for the Costa Rica real estate market. Foreign investors are currently purchasing
elegant residences at a record rate, and CRDC expects an added jump in sales with
the planned improvements to the national parks. With nearly two million tourists
visiting Costa Rica in 2007, most with an interest in the diverse wildlife and plant
life in the country, the promised upgrades to the parks can only result in elevated
attraction to the area from tourists, retirees, and investors. Being in such close
proximity to Manual Antonio National Park, as well as surrounding rainforests and
tropical gardens, CRDC is preparing for increased interest in the Cerro Fresco
community.

About CRDC: The Costa Rican Development Corporation (CRDC), a leader in today’s
Costa Rica real estate market, specializes in the design and development of luxury
residential communities. With an emphasis on total customer satisfaction, CRDC
guarantees quality and excellence in their stylish estate homes. CRDC’s current
developments are Cerro Fresco, Hermosa Highlands, Villas Altas, and Highland
Estates. For more information about Cerro Fresco, please visit
www.cerrofresco.com/.

Web Site: http://www.cerrofresco.com/

Contact Details: CERRO FRESCO SALES CENTER
Hermosa Highlands S.A.
Atrium Corporate Plaza
Escazu,Costa Rica
Phone:US (800) 729-5212
CR (506) 2201-5250
Email: info@cerrofresco.com