Holly Holdings and Country World Casinos Announces Radisson Will be the Hotel Flag for this Country World Casino and Hotel Project

Business Wire, July 14, 1997

BALA CYNWYD, PA and DENVER--(BUSINESS WIRE)--July 14, 1997--Holly Holdings Inc. (HOPR) and Country World Casinos Inc. (CWRC) today announced the signing of a management and technical services agreement between Country World Casinos Inc. and Signature Hospitality Resources Inc. The agreement provides for Signature Hospitality Resources to manage Country World's planned Radisson Black Hawk Hotel, once the hotel is constructed.

Radisson has advised Signature that it has reserved the franchise rights for a period of 90 days while mutually satisfactory terms and conditions for a licensing agreement are finalized.

William H. Patrowicz, president of Holly Holdings Inc. and a director of Country World stated "We are pleased to have Radisson and Signature on this project. Information on the casino management company, architect and construction company will follow in the next few days."

Holly Holdings Inc., headquartered in Bala Cynwyd, holds a majority interest in the common stock of Country World Casinos Inc., a development corporation, whose plan is to construct a casino and hotel complex in Black Hawk, Colorado.

CONTACT: Holly Holdings Inc.

William H. Patrowicz, 610/617-0405

or

Country World Casinos Inc.

Roger Leclerc, 303/989-0123