Choctaw Resort Development Enterprise Announces Management Changes; Jay Dorris No Longer President of Enterprise; Sheila Martin Becomes Acting President

Business Wire, Sept 7, 2004

CHOCTAW RESERVATION, Miss. -- The Choctaw Resort Development Enterprise (CRDE), a business enterprise of the Mississippi Band of Choctaw Indians which markets itself as the Pearl River Resort, today announced a series of management changes with the departure of Jay Dorris from the Enterprise and the appointment of Sheila Martin, acting president and Kerry Smith as interim chief operating officer of gaming.

"We thank Jay for his service and expertise in helping us launch the Golden Moon and steering it through its successful opening and operation," said Phillip Martin, chairman of the Enterprise and chief of the Mississippi Band of Choctaw Indians. "We wish him success in his next endeavor. Pearl River Resort remains strong and continues developing into a strong premier destination resort."

Chief Martin announced that Dorris was released from his employment contract on September 3, 2004 and that Sheila Martin, chief operating officer of gaming for Pearl River Resort, was elevated to acting President. Kerry Smith was also elevated to interim chief operating officer of gaming operations. Chief Martin said the board of directors of CRDE had authorized him to conduct a nationwide search for a new executive as soon as possible.

"We are confident in Sheila and Kerry's abilities to step in seamlessly and make this transition a smooth one and carry out our objectives to continue strong growth in the gaming and resort businesses," Chief Martin said. "We have a strong management team and believe it will be transparent for our customers."

Sheila Martin, who is not related to Chief Phillip Martin, began her gaming career when gaming became legal in Indian Country. She worked at Lake of the Torches Bingo Hall as a floorwalker, but quickly moved up, serving as a bingo caller supervisor from 1993-94, promoted to hotel front desk supervisor then table games supervisor. She was then promoted to facility administrator for Lake of The Torches casino gaming operations, eventually becoming assistant general manager for the Lake of the Torches resort. Sheila Martin joined Pearl River Resort in 2001.

"I am grateful for this opportunity and believe strongly in the Enterprise's mission and success for the future," Sheila Martin said on assuming her duties. "We have reassured our managers and employees that these changes have been made to strengthen our business and we remain committed to providing our customers and visitors with a premium resort and gaming experience."

Smith, a 24-year veteran of the casino industry, joined Pearl River Resort overseeing all slot operations after serving in a similar capacity overseeing slot departments at all three of Trump Casinos Atlantic City properties. Smith has worked as a gaming consultant in Nevada and Oregon and was hired to direct the start up operations for casinos in Louisiana, Southern California and Colorado. He also served as senior vice president of casino operations for the resorts casino hotel, and vice president of design development for the Trump Organization. In addition to his other accomplishments, Smith served as vice president of slot operations at Trumps Plaza/Worlds Fair Hotel Casino and director of slot operations for Circus Circus Organization in Las Vegas and Laughlin, Nevada.

Forward-Looking Statements. Certain information included in this release and other materials filed or to be filed by the Enterprise with the Securities and Exchange Commission contains forward-looking statements, within the meaning of Section 21E of the Securities Exchange Act of 1934. Such statements include information relating to plans for future expansion and other business development activities as well as other capital spending, financing sources and the effects of regulation (including gaming and tax regulation) and competition. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of the Enterprise. These risks and uncertainties include, but are not limited to, those relating to development and construction activities, dependence on existing management, leverage and debt service, domestic or global economic conditions, pending litigation, changes in federal tax laws or the administration of such laws and changes in gaming laws or regulations (including the legalization of gaming in certain jurisdictions).