Released on: September 29, 2008, 12:11 pm

Press Release Author: CRDC

Industry: Real Estate

Press Release Summary: With part of Mexico’s US$400 million investment in Costa Rica
designated for construction, development companies, such as the Costa Rican
Development Corporation, are likely to see increased interest in their real estate
listings.

Press Release Body: Building on an already well-established trade agreement, Mexico
is investing more than US$400 million in Costa Rica, with an emphasis on financial
services, the food industry, communications and construction. The added boost to the
construction sector is welcomed by the Costa Rica real estate market, especially
high-end developments such as the Costa Rican Development Corporation’s Cerro Fresco
(www.cerrofresco.com/), since an increased construction budget means Costa Rica real
estate will become even more desirable.

Mexico and Costa Rica have been operating under a North American Free Trade
agreement for thirteen years, and their bilateral trade has increased to nearly
eleven times the amount reported in 1995. In August, 2008, it was announced that
Geronimo Gutierrez Fernandez, Assistant Secretary for Latin American and the
Caribbean, and Ambassador Edgar Ugalde Alvarez, Deputy Minister of Foreign Affairs
and Worship of Costa Rica, had reported Mexico’s huge investment commitment to Costa
Rica. Costa Rica real estate agencies are particularly interested in this news, as
more monetary support for Costa Rica’s construction efforts will inevitably lead to
enhanced telecommunications, new and better roads, and an overall improvement to
Costa Rica’s transportation systems.

The Costa Rican Development Corporation (CRDC) is anticipating an increased interest
in its newly constructed luxury community, Cerro Fresco, as a result of the influx
of Mexico’s investment money. Located in the Central Pacific region of Costa Rica,
in Jaco´, Cerro Fresco is located 1,500 feet above sea level.

Upgraded and newly developed roads will be a huge benefit for CRDC, as these will
make travel to and from Cerro Fresco, as well as to and from nearby attractions,
more convenient for Cerro Fresco residents. Improved telecommunications and
transportation systems, particularly airports, will make Costa Rica an even more
desirable location for the more than two million visitors traveling to Costa Rica
each year.

Cerro Fresco is already a popular choice for high-end investors, tourists, and
retirees, with more than sixty percent of its elegant estates pre-sold. Sales of
Cerro Fresco’s open-air Balinese bungalow villas will likely gain momentum once the
news of promised enhancements to Costa Rica’s communication and transportation
systems becomes more widespread.

About CRDC: The Costa Rican Development Corporation (CRDC), a leader in today’s
Costa Rica real estate market, specializes in the design and development of luxury
residential communities. With an emphasis on total customer satisfaction, CRDC
guarantees quality and excellence in their stylish estate homes. CRDC’s current
developments are Cerro Fresco, Hermosa Highlands, Villas Altas, and Highland
Estates. For more information about Cerro Fresco, 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
CR (506) 2201-5250
Email: info@cerrofresco.com