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Murphy International Development Ltd. Bolsters Crab Cay Prestige With Sedona Resorts Partnership

March 7, 2007

HOUSTON, March 7 /PRNewswire/ — The secluded uninhabited island of Crab Cay — just off the Bahamas’ Great Exuma Island — will be transformed into an exclusive 200+ acre old-world style ecological oasis for private luxury living, vacationing and yacht harboring. A rare tropical sanctuary, Crab Cay will embody the island’s rich history and exemplify the splendor of famous European ports-of-call in a naturally secluded setting. Crab Cay will be developed in three phases, built with strict adherence to the highest standards for eco-sensitive design and planning. Upon completion, the project will have a market value in excess of $800 million.

Phase one, scheduled for completion by 2009, will feature a 30 acre harbour, naturally protected by surrounding ridges and islands, that offers full service berthing for yachts and mega yachts up to 300 feet; Harbour Village, an old-world residential and retail village that promises residents the finest in new-world luxury and amenities; waterfront home sites and residences; and a destination spa and resort managed by one of the world’s leaders in hospitality services, Sedona Resorts.

“Sedona Resorts brings to Crab Cay its expertise in the operations and development of internationally recognized spas and resorts such as the award- winning Mii amo Spa and Enchantment Resort further enhancing Crab Cay’s inimitable appeal to residents and vacationers,” stated Crab Cay developer, Pete Murphy, of Murphy International Development Ltd. Sedona Resorts President & CEO, George Lidicker, added, “Partnering with Murphy International Development Ltd. is a natural alliance built upon a shared commitment to create a destination spa and resort with exceptional distinction in setting, service and amenities for the ultimate well being of mind, body and soul.”

Developing Crab Cay is the collective vision of North Carolina’s Murphy Family, and as Pete Murphy succinctly expressed, “We desire to offer the perfect resident and vacation refuge to those with a passion for quality, beauty, luxury, and privacy, who respectfully appreciate, through preservation, the wondrous gifts of nature.” Preservation of indigenous plants and wildlife is at the forefront of all Crab Cay plans. Upon project completion, Crab Cay will offer residents an ecological sanctuary where ultimate service and serenity abound.

“Rarely do islands attract such a high-level development, in scope and scale, with this caliber of excellence in architecture, amenities, and ecological planning,” explained Prime Minister Perry Gladstone Christie of the Commonwealth of The Bahamas. Both the Prime Minister and Mr. Murphy pointed to the project as a further manifestation of the unprecedented investor confidence in the Exumas and The Bahamas as a whole.

Murphy International Development Ltd.’s vision for Crab Cay perpetuates the dream of its first settler, Sir William Walker, who built his 18th century plantation amid botanical gardens created from cuttings collected from travels around the world, including specimens from the South Pacific brought back by Capt. Cook aboard the H.M.S. Endeavor and Resolution and Capt. William Bligh aboard the H.M.S. Bounty.

Ruins from the Walker estate today serve as a cultural icon of Walker’s legacy to maximize and preserve the island’s natural beauty.

Located just south of Great Exuma Island, Crab Cay is a development of Murphy International Development Ltd. The master-plan for the 200+ acre island is designed to transform the island into an old-world style ecological oasis, a vision that perpetuates the dream of its first settler, Sir William Walker. The phased development plan includes a naturally protected 30 acre harbour with mega-yacht marina slips in an exclusive Harbour Club; a world- class spa and hotel; clubhouse; pool areas and approximately 375 distinctive residences. Crab Cay features eight miles of beach and waterfront and is accessible by a gated private bridge to the Exuma mainland, and also by yacht, boat or dinghy. For more information about Crab Cay, visit http://www.crabcay.com/ .

This press release does not constitute an offer to sell or a solicitation of an offer to buy real estate, and the real estate cannot be offered or sold in any state or country in which the solicitation, offer or sale of the real estate would be unlawful prior to the registration under the laws of such state or country.

Murphy International Development Ltd.

CONTACT: Ashley Pearce, Ashley@dpwpr.com , or Laura Jones, both of DanciePerugini Ware Public Relations, +1-713-224-9115, for Murphy InternationalDevelopment Ltd.

Web site: http://www.crabcay.com/




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