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French Lick Resorts & Casino, LLC News

French Lick Announces Results of Tender Offer for Notes

FRENCH LICK, Ind., April 28 PRNewswire — French Lick Resorts & Casino, LLC and French Lick Resorts & Casino Corp. (the "Purchasers") today announced the results of their offer to purchase for cash up to $150,000,000 aggregate principal amount of the outstanding 10-3/4% First Mortgage Notes due 2014 (the "Notes") co-issued by the Purchasers made upon the terms and subject to the conditions set forth in the Offer to Purchase, dated March 31, 2008, and the related Letter of Transmittal, as amended by the Purchasers' press release issued on April 2, 2008 (as amended, the "Offer"). The Offer expired at midnight on April 25, 2008.

The Purchasers indicated that $127,861,000 aggregate principal amount of the Notes had been validly tendered and not withdrawn pursuant to the Offer. The Purchasers have accepted for purchase and payment all of the tendered Notes. The total consideration of $800 per $1,000 principal amount of Notes will be paid in respect of all purchased Notes, representing the sum of the tender offer consideration of $780 per $1,000 principal amount of Notes and the early tender premium of $20 per $1,000 principal amount of Notes — all of the Notes tendered in the Offer were tendered prior to the early tender time of 5:00 p.m., April 11, 2008. In addition, holders whose Notes are purchased pursuant to the Offer will receive accrued and unpaid interest on such Notes to, but not including, the date of payment for such purchased Notes, which is expected to be tomorrow, April 29, 2008.

J.P. Morgan Securities Inc. acted as the Dealer Manager for the Offer and MacKenzie Partners, Inc. acted as the Information Agent and Depositary for the Offer.

This press release is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell the Notes.

Forward-Looking Statements

This press release contains forward-looking statements" which can be identified by the use of forward-looking terminology, such as "may," "intend," "will," "expect," "anticipate," "should," "plans to," "estimate" or "continue" or the negative thereof or other variations thereon or comparable terminology. In particular, any statement, express or implied, concerning future operating results or the ability to generate revenues, income or cash flow to service the Purchasers' debt are forward-looking statements. Although the Purchasers believe that the expectations will prove to be correct, all forward-looking statements are expressly qualified by such cautionary statements, and the Purchasers undertake no obligation to update such forward-looking statements. Although these statements are based upon assumptions considered to be reasonable, they are subject to the foregoing risks and uncertainties as well as the risks and uncertainties that are described more fully in the section titled "Risk Factors" in the Annual Report of French Lick Resorts & Casino, LLC. Accordingly, no assurance can be given that the results anticipated or implied by such forward-looking statements will be achieved. Noteholders are cautioned not to place undue emphasis on our forward-looking statements.

SOURCE French Lick Resorts & Casino, LLC; French Lick Resorts & Casino Corp.

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