Released on = April 1, 2006, 4:57 am

Press Release Author = Sea Residences

Industry = Real Estate

Press Release Summary = The ultimate residence can be found circumnavigating the
globe in the epitome of luxury aboard the US$650 million dollar prestigious and
private residential cruise ship - The Magellan. With a full-service retractable
marina, on-call private Bell 429 helicopters and 300 ports of call, owners have
anytime access to their floating residences where 300 crew members await around the
clock to say "Welcome Home".

Press Release Body = The ultimate residence can be found circumnavigating the globe
in the epitome of luxury aboard the US$650 million dollar prestigious and private
residential cruise ship - The Magellan. With a full-service retractable marina,
on-call private Bell 429 helicopters and 300 ports of call, owners have anytime
access to their floating residences where 300 crew members await around the clock to
say "Welcome Home".

The facilities and services of the world's finest resorts are part of everyday life
aboard the Magellan. On-call housekeeping staff, a world-class spa and marketplace,
a 24-hour concierge staff, indoor and outdoor pools, six restaurants, a 450-seat
theatre featuring Broadway-quality entertainment, a casino worthy of Monte Carlo and
a 8,000 sq.ft greenhouse with onsite horticulturists are just a few of the
conveniences that make living aboard the Magellan a unique experience.

"Life aboard is tantamount to that on an elegant private yacht - spacious, refined
and completely luxurious", says Select Sea Residences' Managing Director Ann
Adenius. "It's a holiday home that brings you to the world's best ports. The
facilities and services of the world's finest resorts are part of your everyday
life."

Ann Adenius continues, "By introducing fractional ownership, starting as low as
US$156,250 for a 1-month ownership in a 2-bedroom unit, this is now becoming a very
affordable option. Unlike Destination Clubs and timeshare programs, fractional
ownership means you actually own your residence for the month or months purchased.
Never before have home ownership and luxury travel come together in such a
spectacular offering".

Magellan will have 200 impeccably designed private residences, including 18
exclusive penthouses, each named after an exotic port of call. The impeccably
designed residences offer all of the comforts that can be found in land-based
multi-million dollar homes. Luxurious material like stone and wood, gourmet-quality
appliances and lavish baths complemented with the latest technological advancements
makes the Magellan the ultimate residence on sea or land.

There are two options for ownership: Fractional ownership provides a unique
opportunity to purchase a residence on the ship in one-month increments, starting at
US$156,250 for a 1-month ownership in a 2-bedroom unit. Full ownership starts at
US$1,875 million. The residence will be owned via a 100-year leasehold.

There will also be 7 incremental price increases before complete sell out. Prices
will increase US$8,333 (for fractional ownership) or US$100,000 for full ownership
for each 25 units sold.

It is anticipated that Magellan will be completed by summer of 2009.

For more information about Magellan, visit www.SeaResidences.com or call
+44 (0)20 7095 8701.


Web Site = http://www.searesidences.com

Contact Details = Sea Residences, www.searesidences.com
welcome@searesidences.com
Tel: +44 (0)20 7095 8701