Released on: September 18, 2008, 9:48 am

Press Release Author: Costa Rican Development Corporation

Industry: Real Estate

Press Release Summary: Expecting the new solid diplomatic and trade relations
between Costa Rica and The People’s Republic of China to lead to business from
high-end Chinese investors, the Costa Rica Development Corporation has decided to
open an office in this Asian country.

Press Release Body: SAN JOSE, COSTA RICA – In order to take advantage of recently
strengthened diplomatic relations, Costa Rican Development Corporation (CRDC) is
making plans to open an office in China, a move that could propel this leader in the
Costa Rica real estate market to even higher status among investors. CRDC’s
strategic move could easily open the door for construction of more lavish
residential developments, such as Cerro Fresco (www.cerrofresco.com/), to fill a
growing interest in Costa Rica as a choice for retirement, vacations, and
investments.

Talks between Chinese Foreign Minister, Yang Jiechi, and Costa Rica Minister of
Foreign Affairs, Bruno Stagno Ugarte, began in 2007. After lengthy negotiations,
the two representatives agreed on the terms of the new diplomatic relations and
issued a joint communiqué detailing the specific expectations and requirements.
Referring to his country’s already established trade relationship with The People’s
Republic of China, Costa Rican President, Oscar Arias, commented, "For Costa Rica
this is an act of foreign policy realism which promotes our links to Asia. It is my
responsibility to recognize a global player as important as the People's Republic of
China. With this decision we join 178 nations in the United Nations that have
recognized the People's Republic of China.”

The China Council for the Promotion of International Trade (CCPIT) recently
co-hosted, along with the Costa Rica Council for the Promotion of Foreign Trade, The
Trade Fair of the People’s Republic of China. The event, held from September 11 –
September 14, 2008, in the Costa Rica capital of San Jose´, allowed the CCPIT to
display its business offerings in a variety of fields, including electronics,
telecommunications, science, technology and automobiles. The trade show helped
generate more interest in pushing forward with a China-Costa Rica free trade
agreement.

Costa Rica real estate developers such as the Costa Rican Development Corporation
are expecting the new trade relations with China to bring heightened interest to
their high-end market listings. Cerro Fresco, an exclusive residential estate
community, has less than forty percent of its Balinese open-air villas still
available, and it is expected that Chinese investors will be purchasing many of
these.

About CRDC: The Costa Rican Development Corporation (CRDC), specializing in the
design and development of luxury residential communities, provides its customers
with first class quality and service. CRDC is a prominent Costa Rica real estate
developer, and proudly offers listings in these communities: Cerro Fresco, Hermosa
Highlands, Villas Altas, and Highland Estates. For more information about the
popular Cerro Fresco development, 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
Email: info@cerrofresco.com