Colorado Gaming Development and PCL Construction Services to design and construct Country World Casino Project

Business Wire, July 21, 1997

DENVER--(BUSINESS WIRE)--July 21, 1997--Country World Casinos, Inc., (BULLETIN BOARD: CWRC), today announced the signing of an agreement with Colorado Gaming Development Co., Inc. in conjunction with Semple Brown Roberts, P.C. to design the Country World Casino project in Black Hawk, Colo. A professional services proposal including a project estimate has been approved by the parties.

PCL Construction Services, Inc., of Denver Colo., has agreed with Country World to provide the construction services and have jointly signed an interim agreement to provide same.

William H. Patrowicz, president of Holly Holdings, Inc. and an officer of Country World Casino, Inc. stated, "These two companies are the best team Country World could have assembled. Both have vast knowledge of the gaming industry in their respective fields and are well experienced in the Black Hawk area and its requirements. We expect to announce a finalized construction schedule within the next 60 to 90 days."

Country World Casinos, Inc., headquartered in Denver, is a casino development company, whose plans are to develop a casino and hotel complex in Black Hawk, Colo. Holly Holdings, Inc., headquartered in Bala Cynwyd, Pa., holds a majority interest in the common stock of Country World Casinos, Inc.

This press release contains forward-looking statements. All forward-looking statements involve risks and uncertainties, including without limitation, the risks detailed in the company's filings and reports with the Securities and Exchange Commission. Such statements are only predictions and actual events or results may differ materially from those projected.

CONTACT: Country World Casinos, Inc.

Roger Leclerc, president

303/989-0123

303/989-6617, fax