Trump Partner Purchases $500 Million Toronto Development Site

TORONTO, ON (September 29, 2004) The Trump International Hotel & Tower, Toronto development took another great stride towards reality when Trump Organization partner, Talon International Development Inc. acquired the building site at Bay & Adelaide in downtown Toronto. The land was purchased from the Bresler family of Toronto, for an undisclosed sum.

The site at 325 Bay Street will be home to the $500-million Trump International Hotel & Tower, Toronto  a 68-storey mixed use five-star hotel and residential property currently under development. The building will be the tallest residential building in Canada when completed.

We'd like to thank the Bresler family for their support and cooperation in reaching this agreement, stated Talon CEO, Val Levitan. This land purchase demonstrates our commitment to the long-term success of this project.

The Towers presentation centre, located on the site itself, opened in May and has drawn the attention of local and international buyers and investors who are attracted by the potential investment opportunity the Trump Toronto project provides.

Adds Levitan, we've been pleasantly surprised by the interest shown from purchasers in the US, UK and Asia  especially from those who travel to Toronto frequently for business. They've seen how much success Trump Chicago had earlier this year and how quickly values have appreciated. They're almost as excited about the building as we are.

Hotel condominium suites start at CAD $652,000 and residential suites start at CAD $1.6 million.

About the Development
Trump International Hotel & Tower, Toronto, is a joint venture between Donald J. Trump and Talon International Development Inc. Located at the corner of Bay and Adelaide in the heart of Toronto's financial district, the Tower will be the tallest and most luxurious residential building in Canada at 68-storeys and over 1,000 feet high. The property features 265 luxury hotel guestrooms and 109 residential condominiums available for purchase. The building was designed by the renowned Toronto-based firm of Zeidler Partnership Architects and will be built by EllisDon, one of the worlds most innovative construction services firms.

The Trump Organization specializes in five-star real estate development and will operate and manage the hotel. The project will be the Trump Organization's fourth Trump International Hotel & Tower and the first outside the United States. Talon is a Canadian-based investment company whose shareholders have holdings in a variety of industries ranging from natural resources to high technology to real estate development throughout Canada, the United States and the United Kingdom.