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President Casinos States Developments in Litigation Case With Columbia Sussex

On December 21st, 2007, the President Casino Incorporated publicly announced the development regarding its litigation case with Columbia Sussex. At a conference on December 19th, 2007, the Bankruptcy Judge studying the matter stated her intention to enter a summary decision regarding Columbia Sussex on the President's claim that Columbia Sussex failed to fulfill its contract to buy the President's former St. Louis gambling operations.

The Bankruptcy Judge also stated her intent to decide in favor of the President Casino on a related issue regarding parking costs for the Cherrick parking lot. The content and the basis for the Court's decision will not be known until the Court convenes on these gaming related issues whether to make an appeal or not.

The announcement made by President Casino may contain forward looking announcements, which can change. These statements can be impacted, positively or negatively by different factors. The forward looking statements are subjected to different risks and uncertainties that could cause results to be different from those that are implied by the President's casino.

Extra information regarding different factors that could the President Casino's financial status are included in the filings of the annual report of the company on form 10-k for the fiscal year ended February 28th, 2007 and the report made by the company on form 10-Q for the quarters ended May 31st, 2007 and August 31st, 2007 all of which are problems referred into this statement by the company.


01/03/2008 07:34 PM


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