Released on: September 22, 2008, 9:45 am

Press Release Author: Costa Rican Development Corporation

Industry: Real Estate

Press Release Summary: The North American Free Trade Agreement between Costa Rica
and Panama has made an already good trade relationship even better, paving the way
for Costa Rica real estate developer CRDC to attract even more interest in their
first class residential communities from Panamanian investors.

Press Release Body: The Costa Rican Development Corporation (CRDC) is expecting to
double its current work force size as a result of the recent ratification of Costa
Rica’s North American Free Trade Agreement (NAFTA) with Panama. The agreement is
expected to stimulate the trade exchanges between Costa Rica and Panama as well as
increase Panamanian investors’ interest in high-end real estate, such as CRDC’s
Cerro Fresco.

The Costa Rica-Panama NAFTA must still pass a second vote by the Costa Rican
Congress, and both countries are anxious for the official implementation of the
agreement. Existing trade relations between Costa Rica and Panama are already
favorable. In 2007, Costa Rica exported goods and services equaling US$327 million
to Panama and imported over US$224 million goods and services from this country.
Panama’s Minister of Commerce and Industry, Carmen Gisela Vergara, stated that the
NAFTA treaty with Costa Rice “represents the strengthening of exchange” between the
two countries and there is a push “to move on to the stage of implementation.”

The Costa Rican Development Corporation is positioning itself for the anticipated
spike in Panamanian investors’ interest in Costa Rica real estate. The recent NAFTA
ratification will serve to enhance already positive trade relations, and this will
extend into financial arenas, including investments.

During the past decade, Costa Rica has quickly become one of the most sought after
locations for retirement, vacations, and real estate investment. Luxury residential
communities, such as CRDC’s Cerro Fresco (www.cerrofresco.com), are selling at a
fast pace, and world-wide interest in these listings continues to climb. The Costa
Rican Development Corporation sees great potential for generating interest among
high-end Panamanian investors searching for a lucrative Costa Rica real estate
investment.
Located in Jaco´, Cerro Fresco is a part of the rapidly growing Central Pacific area
of Costa Rica. The Central Pacific area is the most popular tourist region of Costa
Rica due to its proximity to both the beaches and mountain areas. The abundance of
available activities, including surfing, canopy tours, and parasailing, and the
local sites, such as rainforests, volcanoes, and tropical gardens, draw millions of
travelers to this region, and specifically Jaco´, every year.

About CRDC: The Costa Rican Development Corporation (CRDC), a leader in today’s
Costa Rica real estate market, specializes in the design and development of luxury
residential communities. With an emphasis on total customer satisfaction, CRDC
guarantees quality and excellence in their stylish estate homes. CRDC’s current
developments are Cerro Fresco, Hermosa Highlands, Villas Altas, and Highland
Estates. For more information about Cerro Fresco, please visit www.cerrofresco.com

Costa Rican Development Corporation
Cerro Fresco Sales Center Atrium Corporate Plaza Escazu, Costa Rica
www.cerrofresco.com
Phone: US (800) 729-5212
CR (506) 2201-5250
info@cerrofresco.com
Contact: Bob Garcia
Office: (506) 2201-5250
(800) 729-5212


Web Site: http://www.cerrofresco.com/

Contact Details: Costa Rican Development Corporation
Cerro Fresco Sales Center Atrium Corporate Plaza Escazu, Costa Rica
www.cerrofresco.com
Phone: US (800) 729-5212
CR (506) 2201-5250
info@cerrofresco.com
Contact: Bob Garcia
Office: (506) 2201-5250
(800) 729-5212