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Beal Bank to Provide Trump Loan

30 Nov 2004

DALLAS, Texas – (PRESS RELEASE) -- Beal Bank (the "Bank") announced today that it has provided $100 million in interim financing to Trump Hotels & Casino Resorts, Inc. (OTC Bulletin Board: DJTCQ; "THCR") as part of that company's recapitalization plan. In announcing the transaction, Beal Bank's Chairman and Chief Executive Officer, Andy Beal, said, "Trump Hotels & Casino Resorts, Inc. is run by one of America's leading entrepreneurs, Donald J. Trump. We appreciate the opportunity to work with a businessman of his stature on this transaction, and we look forward to future transactions."

The transaction, which was consummated last week, was sourced, negotiated and completed through CSG Investments, Inc. ("CSG"), the Bank's investment advisor. CSG's President, Jacob C Cherner, in describing the purpose of the loan, stated, "This transaction will enable Trump Hotels & Casino Resorts to emerge from its reorganization stronger and should make its properties more competitive in the Atlantic City market."

The selection of Beal Bank to provide the interim financing to THCR was the culmination of a highly competitive process among potential lenders. THCR's President and Chief Operating Officer, Scott C. Butera, commented, "We are excited to be continuing our relationship with Beal Bank through the interim facility. Beal Bank is an extremely innovative financial institution and a strong supporter of the gaming industry. I look forward to having them as a financial partner as we look forward to expand the Trump brand into new gaming and entertainment markets."

Mr. Cherner concluded, "We are pleased to have been able to facilitate this interim financing transaction between two of the nation's most innovative businessmen in Donald Trump and Andy Beal, and we look forward to expanding the Bank's presence in the capital markets arena."

 
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