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IGY to Develop New Luxury Marina Complex at Altamer Resort in Anguilla

FORT LAUDERDALE, FLORIDA (July 9, 2007): Island Global Yachting (IGY), one of the world’s premier owners, developers and managers of luxury marinas and yachting lifestyle destinations, held a groundbreaking ceremony today to announce their selection as the master developer and operator of a new luxury five-star marina and upland facility at Altamer Resort on Anguilla.  The development, which will serve as the official port of entry to Anguilla, will feature a 101-slip marina of which 30% of the berths will accommodate megayachts. Additionally, the complex will include 740,000 square feet of upland space which is currently slated for a 164-unit resort and a duty-free shopping and restaurant promenade.  Slated to open in the fourth quarter of 2009, the project is a partnership between IGY and Altamer Resort owners Michael and Rebecca Eggleton, and will be the first marina built on the Island of Anguilla.

“We are so pleased to partner with Island Global Yachting as we further develop our property,” said Rebecca Eggleton, president of Altamer Resort. “For nearly a decade Altamer Resort has offered the finest world-class hospitality experience on Anguilla, and we are certain that IGY will only enhance that reputation. Their new facility on St. Thomas, Yacht Haven Grande, set a new standard for luxury yachting destinations and the new marina at Altamer is destined to raise the bar even further.”

“Our new marina at Altamer will certainly rival some of the most renowned facilities in the region and will position Anguilla as a choice destination among the luxury yachting set that may have previously frequented places such as St. Barts, St. Kitts or Nevis,” continued Andrew L. Farkas, CEO of Island Global Yachting. “We look forward to working with the Eggletons and the Island of Anguilla to deliver an unmatched, five-star resort marina experience.”

IGY developments are not only enhancing and revitalizing their local areas, but the network of properties is setting new standards for service and quality in nautical tourism. The company offers an unprecedented Pan-Caribbean collection of marinas including locations such as: St. Maarten, St. Lucia, the British Virgin Islands, and St. Thomas. IGY’s signature marina, Yacht Haven Grande, opened in March in St. Thomas, USVI, and can accommodate yachts ranging in size from 60 to 500 feet. Its facilities are considered by the industry to be the most technologically advanced and are complemented by its upland development of world-class shopping, restaurants, entertainment and recreational amenities, as well as luxury residential units. Since its opening, the marina has attracted some of the world’s most spectacular private yachts.

ABOUT ISLAND GLOBAL YACHTING
From the islands of the Caribbean to the azure waters of the Arabian Gulf and other beautiful yachting destinations around the world, IGY is redefining the very idea of luxury marina experiences.  Founded in 2005, IGY focuses on acquiring, controlling and/or servicing luxury-yacht marinas and the surrounding upland real estate properties. Island Global Yachting marinas operate under the signature Yacht Haven Grande collection and the IGY series brands, as well as several private labels. Headquartered in Fort Lauderdale, Florida, IGY also has offices in New York, NY; St. Thomas, USVI; and Dubai, UAE. IGY is an affiliate of Island Capital Group LLC, a real estate merchant banking firm led and founded by Andrew Farkas, former chairman of Insignia Financial Group.  For more information, please visit www.igymarinas.com.

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