/ 11 August 1999

LCI SETTLES WITH SAMRAND

LONDON Clubs International said on Tuesday the company is both delighted and relieved that a final settlement of the dispute with Samrand over the development of the Emerald Safari Resort has been reached. Details of the settlement have not been disclosed. The dispute arose after Samrand was unable to provide the equity financing it had promised, forcing LCI to become the majority equity partner in order to ensure completion of the project. The issue has delayed operations for 10 months, and LCI and the Gauteng Gambling Board are both relieved that Samrand’s Dato Samsudin Abu Hassan, who has been in Malaysia, has agreed to settle.