Thunderbird Announces Termination of Offering of Common Stock

AMSTERDAM, THE NETHERLANDS -- (MARKET WIRE) -- 10/19/09 --
Thunderbird Resorts Inc. ("Thunderbird" or "Group") (FRANKFURT:
4TR)(EURONEXT: TBIRD) announced on 29 September 2009 that it launched
a public offering and private placement of up to 75,000,000 shares of
its common stock (or 86,250,000 shares of its common stock if the
over-allotment is exercised) with an offer price range of $1.00 to
$1.25 per common share (the "Offering"). The Group further announced
that the subscription period for prospective investors commenced on
30 September 2009 and was to end on 14 October 2009 at 17:00 hours
Amsterdam time, subject to acceleration or extension of the timetable
for the Offering. Furthermore, on 13 October 2009 the Group elected
to extend the subscription period from 14 October 2009 at 17:00 hours
Amsterdam time to 22 October 2009 at 13:00 hours Amsterdam time.
 
As of 19 October 2009, due to market feedback, the Offering of common
stock will not be consummated and is therefore terminated. As
previously reported, the Group will continue its efforts to
restructure its debt, working to secure modified maturity dates where
possible. However, there can be no assurance we will be able to
successfully refinance existing indebtedness or obtain additional new
financing on satisfactory terms, or at all.
 
ABOUT THUNDERBIRD
 
We are an international provider of branded casino and hospitality
services, focused on markets in Central and South America, Southeast
Asia, Eastern Europe and India. Our mission is to "create
extraordinary experiences for our guests." Additional information
about the Group is available on its World Wide Web site at
www.thunderbirdresorts.com.
 
Cautionary Notice: This release contains certain forward-looking
statements within the meaning of the securities laws and regulations
of various international, federal, and state jurisdictions. All
statements, other than statements of historical fact, included
herein, including without limitation, statements regarding closing of
the Offering, future plans and objectives of the Group are
forward-looking statements that involve risk and uncertainties. There
can be no assurances that such statements will prove to be accurate
and actual results could differ materially from those anticipated in
such statements. Important factors that could cause actual results to
differ materially from the Group's forward-looking statements include
competitive pressures, unfavorable changes in regulatory structures,
and general risks associated with business, all of which are
disclosed under the heading "Risk Factors" and elsewhere in the
Group's documents (including the Prospectus) filed from time-to-time
with the Euronext Amsterdam and other regulatory authorities.
 
This announcement is an advertisement for the purposes of Article 3
of Directive 2003/71/EC (the "Prospectus Directive") and its
impletion in any relevant Member State of the European Economic Area
that have implemented the Prospectus Directive ("Relevant Member
States") and not a prospectus for the purposes of the Prospective
Directive and its impletion in any Relevant Member State and
investors should not subscribe for or purchase any securities
referred to in this announcement except on the basis of information
in the prospectus (the "Prospectus") to be published by Thunderbird
on 30 September 2009 in connection with the offer and admission of
the Offer Shares in the capital of Thunderbird to listing and trading
on Euronext Amsterdam.
 
Copies of the Prospectus are available free of charge from ING Bank
N.V., van Heenvlietlaan 220, 1083 CN Amsterdam, the Netherlands, and
through the website of Euronext (www.euronext.com) by Dutch residents
only and through the website of the Netherlands Authority for
Financial Markets (www.afm.nl).
 
This announcement does not constitute, or form part of, an offer or
invitation to sell or issue, or any solicitation of an offer to
purchase or subscribe for securities and any subscription for or
purchase of, or application for securities of Thunderbird to be
issued or sold in connection with the Offering should only be made on
the basis of information contained in the Prospectus and any
supplements thereto.
 
This announcement is not for distribution, directly or indirectly, in
or into the United States (including its territories and possessions
and the District of Columbia). This announcement does not constitute
or form a part of any offer or solicitation of Thunderbird in the
United States or in any other jurisdiction. The securities of
Thunderbird have not been and will not be registered under the US
Securities Act. The securities of Thunderbird will not be offered or
sold in the United States unless registered under the Securities Act
or pursuant to an exemption from such registration. There will be no
public offering of securities in the United States.
 
Contacts:
Thunderbird Resorts Inc.
Kevin McDonald
Investor Relations
(507) 223-1234 (Panama)
kevin.mcdonald@thunderbirdresorts.com
 
Thunderbird Resorts Inc.
Michael G. Fox
Chief Financial Officer
(507) 223-1234 (Panama)
info@thunderbirdresorts.com
www.thunderbirdresorts.com
 
This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement.