Thunderbird Resorts Inc.: Normal Course Exempt Issuer Bid

PANAMA CITY, REPULIC OF PANAMA--(Marketwire - January 12, 2009) -
Thunderbird Resorts Inc. ("Thunderbird") (CNSX: TBI.U)(FRANKFURT:
4TR)(EURONEXT: TBIRD) announces today in this supplemental press
release to its press release dated December 8, 2008, its intention to
make a normal course exempt issuer bid to potentially repurchase a
portion of its issued and outstanding common shares. The Board of
Directors authorized Thunderbird to acquire up to an aggregate of
333,333 of its issued and outstanding common shares over the next
twelve month period for a price not in excess of $3.00 per share and
not in excess of an aggregate of $1,000,000 in value of common shares
(the "2008 Exempt Issuer Bid"). All common shares purchased by
Thunderbird under the 2008 Exempt Issuer Bid will be returned to
treasury and cancelled. Although Thunderbird has a present intention
to acquire common shares, it is not obligated to make any purchases
pursuant to the 2008 Exempt Issuer Bid; furthermore, Thunderbird has
the discretion to not buy any shares, depending on various market
conditions and factors. The sole objective of the 2008 Exempt Issuer
Bid is to reduce Thunderbird's issued and outstanding share capital.
The anticipated share buyback will be undertaken in the context of
the Company's share buyback program which is in compliance with EC
Regulation 2273/2003.
 
The 2008 Exempt Issuer Bid authorization previously commenced on
December 12, 2008 and will terminate on December 12, 2009, or the
earlier of the date all shares which are subject to the 2008 Exempt
Issuer Bid are purchased. All purchases will be affected at market
prices through the facilities of the Canadian National Stock Exchange
and/or Euronext Amsterdam by NYSE Euronext in accordance with the
applicable rules of these exchanges. Thunderbird has not at this time
purchased any of the securities that will be the subject of the
Exempt Issuer Bid. Thunderbird will enter into discretionary
management agreements with one or more banks to repurchase
Thunderbird shares within the limits of relevant laws and regulations
and Thunderbird's Memorandum of Association and Articles of
Association.
 
ABOUT THE COMPANY
 
Thunderbird Resorts Inc. is a leading international provider of
branded casino entertainment through operating subsidiaries.
Thunderbird Resorts is focused on being the most successful
recreational developer and operator in each of our markets by
creating genuine value for the community, our employees and
shareholders. We achieve this mission by offering customers dynamic,
themed and integrated resort venues anchored by casinos. Additional
information about the Company 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 potential
revenue and future plans and objectives of the Company 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 Company'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
Company's documents filed from time-to-time with the CNQ and other
regulatory authorities.
 
Contacts:
Thunderbird Resorts Inc.
Kevin McDonald
Investor Relations
(858) 668-2503
Email: kevin.mcdonald@thunderbirdresorts.com
 
Thunderbird Resorts Inc.
Michael G. Fox
Chief Financial Officer
Email: mfox@thunderbirdresorts.com
or info@thunderbirdresorts.com
Website: www.thunderbirdresorts.com
 
This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement.