Seminole Tribe Finalizes Acquisition of Hard Rock International; Ceremonial Signing By Tribal Council Marks Milestone Purchase

HOLLYWOOD, FLORIDA — Under the sprawling branches of the “Council Oak” tree, site of multiple milestones in the recent history of the Seminole Tribe of Florida, members of the Tribal Council today finalized the acquisition of Hard Rock International with a ceremonial closing event. Chairman Mitchell Cypress, Vice Chairman Moses Osceola and other leaders of the Tribe signed a ceremonial acquisition resolution. As of early afternoon today, the Seminole Tribe officially took ownership of Hard Rock International, Inc.

In December, 2006, the Seminole Tribe announced it had contracted to acquire Hard Rock International and other related entities from The Rank Group Plc for approximately $965 million. Hard Rock International is one of the most globally recognized music, entertainment, leisure and dining brands and has a network of 124 signature Hard Rock Cafes in 46 countries. It includes the world’s largest collection of authentic music memorabilia. The purchase includes the Hard Rock brand controlled by The Rank Group Plc and the entire collection of music memorabilia, as well as 68 company-owned Hard Rock Cafe Restaurants and retail stores, including 44 in the United States, three in Canada, 17 throughout Europe, three in Australia and one in Puerto Rico. The deal also includes licensing or franchise agreements for another 56 restaurants and five hotels, plus Hard Rock Live performance venues. Hard Rock Cafe International is headquartered in Orlando, Fla.

The purchase is believed to be the first of a major international corporation by a Native American Indian Tribe and marks a milestone in the growing economic power and prominence of the Seminole Tribe of Florida and other Indian tribes in today’s business world. The Seminole Tribe is funding the purchase price from a combination of debt issued by a new Hard Rock operating company and equity funding from the Tribe’s Gaming Division capital structure. The Seminole Tribe of Florida currently owns and operates two Seminole Hard Rock Hotels & Casinos in Tampa and Hollywood, Fla., under terms of a license agreement with Hard Rock International.

Growth Planned for Hard Rock International

Both Seminole Tribe Chairman Mitchell Cypress and Seminole Gaming Chief Executive Officer James Allen stressed the Tribe’s plans to work with current Hard Rock International management to build on the existing growth plans and implement new strategies for accelerated growth for the company, which will continue to be headquartered in Orlando, Fla.

“This is a proud moment for the Seminole Tribe of Florida and for all Indian Tribes,” said Cypress, who heads an elected Tribal Council. “It is also an opportunity for the Seminole Tribe to diversify its business operations and help a very successful company to achieve even greater growth. Hard Rock International has an experienced management team and dedicated employees at every restaurant, hotel and Rock Shop.”

The driving force behind the Tribe’s purchase of Hard Rock International is Seminole Gaming Chief Executive Officer James Allen, who is responsible for spearheading the tremendous success of the two Seminole Hard Rock Hotels & Casinos. Said Allen, “This is an outstanding opportunity. Licensing fees contributed by the Seminole Tribe have been in excess of 25 percent of Hard Rock International corporate profits, and this acquisition allows the Tribe to redirect those millions of dollars for the purchase of Hard Rock International. Given the huge success of Hard Rock International and the strong impact of Hard Rock hotels and casinos, the growth of this brand has unlimited potential.”

About Seminole Gaming

In addition to its two Seminole Hard Rock Hotels & Casinos, the Seminole Tribe owns and operates five more non-Hard Rock Florida casinos in Coconut Creek and Hollywood on the Southeast coast, in Immokalee near Naples, on the Brighton Reservation north of Lake Okeechobee and on the Big Cypress Reservation south of Lake Okeechobee.

The Seminole Tribe has long been recognized for innovation in its gaming and other businesses. It opened the first high-stakes bingo hall and casino in the United States in 1979. That facility was the forerunner of the Indian Gaming movement throughout North America. The acquisition announced today provides further evidence of the Tribe’s innovative approach to business.

Analysts believe today’s Seminole Tribe operates one of the most profitable gaming enterprises in the world. Piper Jaffray is serving as the Tribe’s financial advisors and Greenberg Traurig LLP and Eric Dorsky, P.A. are serving as the Tribe’s legal advisors. Merrill Lynch conducted the sale on behalf of The Rank Group Plc, which acquired the Hard Rock brand in 1990 as part of Mecca Leisure and continued expansion of the concept in its original geographic territory, later acquiring Hard Rock America from Peter Morton in 1996 to consolidate the worldwide brand.

About the Seminole Tribe of Florida

The Seminole Tribe is headquartered in Hollywood, Fla., near Fort Lauderdale. It is a sovereign government with an elected Tribal Council of five members. Governmental expenditures are earmarked for police and fire protection, emergency medical services, education, health care, housing, water treatment, economic development, and parks and recreation. More than 90 percent of the Tribe’s budget is currently derived from gaming revenue. The Hard Rock International acquisition will provide additional diversification sought by the Tribal Council. Its business operations currently include cattle ranching, citrus production, tourism promotion, sports management and tobacco sales.

Nearly 3,300 Seminole Indians live on and off reservations throughout Florida. Seminoles pay taxes, serve in the U.S. Armed Forces, and vote in elections. They are descended from a few hundred Seminoles that escaped into the Everglades in the mid-1800s, when the U.S. Government attempted to relocate all of Florida’s Seminoles and other Indians to Oklahoma in what became known as “The Trail of Tears.” For more information on the Seminole Tribe of Florida, visit www.semtribe.com.

About Hard Rock International

With 124 high-energy Hard Rock Cafes and seven hotels and casinos, Hard Rock International is one of the world’s most globally recognized brands. In addition to the Seminole Hard Rock Hotels and Casinos in Tampa and Hollywood, Fla., Hard Rock Hotels are located in Las Vegas, Orlando, Chicago, Pattaya, Thailand and Bali, Indonesia. Additional hotels projects in San Diego, Palm Springs, Biloxi, Copper Mountain, Colo., and Macau, China have also been announced, but are not yet open.

The first Hard Rock Cafe opened in London in 1971. Beginning with an Eric Clapton guitar, Hard Rock owns the world’s largest collection of music memorabilia, which is displayed at its locations around the globe. Hard Rock is also known for its collectible fashion and music-related merchandise, Hard Rock Live performance venues and an award-winning web site. For more information on Hard Rock, visit www.hardrock.com.