Press Release: Tri-National Development Corp.
February 6, 2002
SAN DIEGO, CA -- Tri-National Development Corp. (OTCBB:TNAV) yesterday announced that it has entered into an agreement
with VivaHomes for the construction of single-family homes within its Vinas de Bajamar development.
VivaHomes has been building homes in the Northern Baja California region, with a significant focus on the construction
of villas within the Bajamar Ocean Front Hotel and Golf Resort, located directly across the highway from Vinas
de Bajamar, for over 20 years.
Michael A. Sunstein, president and CEO of Tri-National, said, ``We are excited to be able to offer the quality
of housing built by the experienced and reputable team at VivaHomes. We also anticipate that VivaHomes will be
able to generate significant sales interest in Vinas lots and estates out of the steady flow of golfers and tourists
who visit the world-renowned Bajamar Resort. This alliance with VivaHomes represents another powerful step forward
in the realization of our plans for the Vinas de Bajamar development and the revitalization of our company through
increased revenues from housing. This potential addition of cash inflow is anticipated as a method of accelerating
our reorganization and the goal of repaying all of our legitimate creditors 100 percent.''
Vinas de Bajamar is a 1,250-acre master-planned golf and 1,400 home site residential development located approximately
50 miles south of San Diego on the Pacific Ocean in N. Baja California, Mexico. Tri-National is currently pre-selling
lots in the development as an integral part of its reorganization plan starting at $20,000 each with a 10 percent
down payment and no interest financing over 96 months.
Tri-National recently revised the master plan to include approximately 40 estate ranchettes totaling some 85 acres,
with a 20,000 square foot vineyard clubhouse that will also be used as an on-site sales office. The estates will
range in size from 1.1 acres up to 2.95 acres and will range in price from the low $100,000s to the high $200,000s,
yielding projected gross sales from the estates in excess of $9 million. In the Baja region, the estate concept
has recently become a highly sought after form of land investment and Tri-National and its development consultants
believe that the Vinas estates will be very well received in the current market.
As previously announced, the company recently launched its newly revamped Web site, www.tri-national.com. The new
site was designed to assist real estate brokers and prospective buyers by providing a more modern look, updated
company information, and a wealth of materials relating to purchase and ownership of Mexican real estate. In addition,
the company will be adding information from VivaHomes showcasing their model homes.
Tri-National Development Corp. is an international real estate development, sales and management company focused
on providing up-scale affordable housing in the Baja region of Mexico and the Southwestern U.S.
This release contains forward-looking statements that involve risks and uncertainties. The company's actual results
could differ materially from those anticipated in these forward-looking statements as a result of various factors.
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Contact:
Tri-National Development Corp.
Jason Sunstein, 619/718-6370, Fax: 619/718-6377
jason@tri-national.com
www.tri-national.com
or
VivaHomes
011-52-646-155-4020, Fax: 011-52-646-155-0184
bajabuilder@hotmail.com