Closing On Contract for Country World Financing Set for December 31, 2000

Business Wire, Dec 5, 2000

Business Editors

BALA CYNWYD, Pa.--(BUSINESS WIRE)--Dec. 5, 2000

Country World Casinos, Inc. (OTC Listed: CWRC) previously announced (press release of November 9, 2000) the signing of a contractual agreement with Dartmouth General Capital Management, Ltd., a Bahamian Corporation, to provide $80 million in financing to finalize development of its Black Hawk, Colorado casino and hotel project.

Closing for the first $15,000,000 has been set for December 31, 2000, with the balance to be provided 30 days thereafter.

Country World Casinos, Inc., headquartered in Bala Cynwyd, Pennsylvania, is an OTC company whose plan is to acquire existing gaming properties, as well as develop a casino, hotel and entertainment complex which will include 1,000 slot machines, 32 gaming tables, fine dining, entertainment, gym and pool facilities valet and self parking for approximately 1,000 cars and bus facilities at Black Hawk, Colorado.

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.