Newly-Named “Cosmopolitan Resort & Casino”
Redefines Skyline with Stunning, Urban High-Rise Design ~~~
3700 Associates LLC Names New Project, Unveils Rendering, Design Team

Las Vegas , Nevada – Two years ago, prominent real estate developer Ian Bruce Eichner was looking toward Las Vegas for his next business venture. He was interested in applying a business model that had served him well in Manhattan and Miami where he’d successfully developed more than six million square feet of urban, luxury residential, office, hospitality and retail space over the past 25 years.

The Cosmopolitan Resort & Casino

When complete, The Cosmopolitan will infuse the Strip with a $1.5 billion development projected to break ground in early in 2005 and open in late 2007 or early 2008. “Many regard our site as one of the last remaining prime locations anywhere on the famed Las Vegas Strip,” Eichner said. “And, the new CityCenter project further accelerates visitor counts to our city and creates a critical mass of attractions to experience or, in the case of our condo-hotel, own,” Eichner added.

“We think the design is an architectural statement of things to come in Las Vegas ,” said Eichner. “We anticipate that we will start pre-selling the condo-hotel units within the next few weeks, and look to sell out shortly thereafter. The panoramic views of the Strip will be unmatched. You can peer out one window to see the Bellagio fountains, another to see what will one day be MGM Mirage’s CityCenter, then look across to the Eiffel Tower and Planet Hollywood. Guests and condo-hotel owners are literally surrounded by the icons that make Las Vegas exciting. You’re in the middle of it all,” Eichner said.

The condo-hotel will feature luxurious appointments and state-of-the-art amenities such as flat screen televisions and VIP access to the rooftop Beach Club, as well as fantastic restaurants and nightclubs. Available Floor Plans will include 600+ square foot studios and 900+ square foot one-bedroom condo-hotel units. The condos will be managed by the hotel at the request of the owners.

The Cosmopolitan Resort & Casino will be comprised of the following components:

We have assembled a dream team of innovative designers with international and local experience who collectively provide a new perspective on luxury and urban architecture in the Las Vegas valley,” said Eichner. “We envision a project far beyond the traditional horizontal approach to architecture to a style and design that’s befitting the 22 nd century,” he added. The Cosmopolitan Resort & Casino design team is comprised of the following:

I. Arquitectonica, founded in 1977, is one of the world’s leading architectural firms and has developed an international practice recognized for excellence and innovation. The firm’s designs have won numerous American Institute of Architects and Progressive Architecture Design Awards. Arquitectonica has vast urban design experience throughout the world that will bring a renewed interest in Las Vegas architecture.

II. Dougall Design is one of the top theme, retail, and interior design firms in the United States . Its local credits include the Caesar’s Forum Shops, The Venetian, and The Hotel at Mandalay Bay . Their designs have been recognized throughout the world. Dougall Design projects can be seen in such places as Las Vegas , Japan , South Africa , Monte Carlo , and Monaco .

III. The Friedmutter Group is one of the premier hospitality design firms in the nation and has garnered acclaim over the past decade as the foremost national architectural firm specializing in hotel-casino planning and design. Their portfolio includes casino, hotels, retail centers, and specialty shops from all corners of the United States including projects at MGM Grand, The Venetian, Ritz Carlton, Foxwood’s Casino Resort, and the Atlantis Resort to name a few.

IV. Paul Duesing Partners, one of world’s most unique, innovative, and sought-after custom interior designers, pioneered the concept of leisure and lifestyle design for an exclusive national and international clientele. From celebrity residences in California to a private hotel and club in Quaker Hill , New York ; from Las Ventanas al Paraiso in Los Cabos , Mexico to The Palms Grand Resort and Spa in Turks and Caicos; and all points between - Paul Duesing Partners’ craft can be seen. With a combined total of over 25 years in the hospitality industry, Paul Duesing Partners is one of the nation’s leading interior architectural design firms and will oversee the interior design of the project’s condo-hotel units.

At a cost of approximately $1.5 billion, the project will generate thousands of full-time jobs and construction jobs, as well as tens of millions of dollars in tax revenues to Clark County and the State of Nevada .

COSMOPOLITAN QUESTIONS AND ANSWERS

 Q: How many stories is the building?

A: 61 stories high and the units start on the 16 th floor

Q: What is the square footage of the units?

A: The studio is approx. 600sf with an additional 100sf balcony and the 1 bedroom is approx. 900sf with an additional 150sf balcony.

Q: Are these units furnished?

A: Yes, all units are completely furnished.

Q: When are you breaking ground?

A: We are scheduled to break ground August of this year, 2005

Q: When is the scheduled completion date?

A: Late 2007, early 2008

Q: What is the reservation deposit?

A: $10,000 for a Madison or Hudson Studio, $100,000 for a Chelsea

Q: The reservation check is made payable to whom?

A: Nevada Title, must be a personal check made out by the person going to reservation, to contract, to close of escrow.

Q: Does the money stay in escrow?

A: Yes, the money will stay in Nevada Title until the close of escrow .

Q: Is the reservation deposit refundable?

A: Yes it is refundable until you go to contract.

Q: When do you go to contract?

A: Approximately April of this year, 2005

Q: What is the payment schedule?

A: 10% minus the reservation deposit will be due at contract (Approx. April)

10% will be due approximately July of 2006

Balance of money due at close of escrow late 2007/early 2008

 Q: Do you pay agents a commission?

A: Yes, we pay a 3% co-op.

 Q: What are the amenities of the building?

A: 300,000sf of premium class-A retail and dining, a 70,000sf casino, a 50,000 full service spa and fitness area, a 1700 seat theater, outdoor Beach Club Resort, and much more all just one elevator button away!!

 Q: What about the Jockey Club?

A: It is a timeshare and it is staying. However, our property will horseshoe around them. They are only approximately 11 stories tall and our condos start on the 16 th floor.

Q: Who is the developer?

A: Bruce Eichner comes to the table with over 25 years of experience which includes the Continuum in South Beach and the Manhattan Club in New York . He teamed up with the top gaming developer, David Friedman.

Q: What is going to be developed on the south side of the building?

A: MGM City Center . A $4 billion dollar Urban Metropolis project that covers over 50 acres!!

Q: How many units are there in the building?

A: There are approximately 2200 total units. Approximately 1400 are condo hotels and the remaining 800 are hotel rooms.

Q: Are the hotel rooms mixed with the Condo Hotel rooms?

A: No, the hotel rooms are at the back of the building.

Q: Will we be able to put our unit into a rental program?

A: Yes, however there is not any information available on this program as of yet.

 Q: Is there a HOA?

A: Yes, we do not know how much that will be. It will be available to you by contract.

Q: Where is your sales office located?

A: The 9,000sf on site sales center will be opened approximately by March Fully furnished models will be open for viewing a short time after.

Q: Do all units have a view?

A: With the Cosmopolitan, there are no interior units. All units face either North towards the Bellagio or South towards the MGM City Center .