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Originally published on October 16, 2008

Key positions strengthen the company’s position as Ho Tram Strip breaks ground

HO CHI MINH CITY, VIETNAM–(Marketwire – Oct. 16, 2008) – Asian Coast Development Ltd. (ACDL), the luxury resort developer behind The Ho Tram Strip, $4.2 billion, 9,000-room hotel resort and entertainment destination in Vietnam’s Vung Tau Province, is announcing the appointment of two senior executives to its Canadian team.

Michael 'Mike' Aymong

Michael Aymong

“These two top-tier additions to the team are consistent with our efforts to build world-class resorts,” said Michael Aymong, Chairman, Asian Coast Development. “The Ho Tram Strip project is the largest tourism venture of its kind in Vietnam, and our team truly reflects that now.”

Stephen Shoemaker has been named President and Chief Operational Officer; and John A. Legge Chief Legal Officer. Mr. Shoemaker will be responsible for all operational and financial aspects of the company while Mr. Legge will provide expert legal counsel.

“We are very pleased to welcome Stephen and John, two accomplished and respective executives to our team,” said David Subotic, Chief Executive Officer, Asian Coast Development. “Their experience and profile will be integral in achieving continued success with our Ho Tram Strip development.”

Mr. Shoemaker has 25 years of financial and operating experience in the hospitality and telecommunications industries. Most recently, he served as the Chief Financial Officer of NuVox Communications. Previously he spent 10 years with Marriott Hotels and Resorts in various financial roles, including feasibility and financial analysis of lodging projects around the world.

Mr. Legge was most recently a partner in the Vancouver law office of Heenan Blaikie and practices primarily in the areas of real estate development and energy related transactions and disputes. He has counselled for numerous energy-related companies, one of the world’s largest shopping centre owners and several gaming-related corporations.

The Ho Tram Strip, one of the largest tourism projects in Asia, is a multi-phase resort development planned for Ba Ria-Vung Tau Province in southern Vietnam. Spread across more than two kilometres of white sand beach, it will feature five integrated Las Vegas-style resorts and a variety of exclusive recreational activities. The 169-hectare Ho Tram Strip is the first major project of its kind in Vietnam.

Asian Coast Development Canada Ltd. (ACDL) is an international development and real estate holding company specializing in integrated resort destinations. With a focus on providing a personalized blend of relaxation and excitement, the Ho Tram Strip will feature something for everyone, from lavish Vegas-style gaming rooms and theatres to acres of premium shopping and exceptional recreational facilities. Phase I of the development, including Vietnam’s first Las Vegas-style casino, an 1100-room five star hotel, a 1,200-room five star hotel and a championship golf course designed by Greg Norman, is scheduled to open in 2011.

Media Contact

Pilot PMR for Asian Coast Development Ltd.
Alex Mangiola
T: +1 (416) 462-0199 ext. 21
M: +1 (416) 460-3575