Kerzner Launches Kerzner Marine Foundation to Support Global Preservation of Marine Life Habitats and Species
November 01 2005 - 3:00PM
Business Wire
Initial Funding to Support the Efforts of The Nature Conservancy,
Bahamas National Trust and Bahamas Sportfishing Conservation
Association to Protect the Waters of Andros Island in The Bahamas
Kerzner International Limited (NYSE:KZL) (the "Company"), which
through its subsidiaries is a leading international developer and
operator of destination resorts, casinos and luxury hotel
properties, today announced a plan to invest more than $5 million
over five years to support Kerzner Marine Foundation ("KMF" or the
"Foundation"), a newly-established, non-profit foundation that
seeks to foster the preservation and enhancement of global marine
ecosystems through scientific research, education and community
outreach. The Foundation's focus is to protect the integrity of
tropical marine ecosystems. The Foundation's priority projects will
involve the development and management of marine protected areas
(ocean sites that enjoy a level of protection similar to U.S.
national parks), coral reef and cetacean conservation and local and
global research. The Foundation will fund programs that will
produce specific and measurable results related to its strategy of
preserving marine habitats. According to Butch Kerzner, Chief
Executive Officer of the Company, the formation of KMF marks an
important step for the Company's marine conservation initiatives.
He explains, "We have long been aware of the threats facing our
oceans, and for many years we have been dedicated to promoting
ocean awareness, conservation and education to our many guests
through development of innovative marine life exhibits and
programs. Our Company has succeeded in bringing more than five
million visitors in contact with over 250 marine species at
Atlantis, Paradise Island, helping them to better understand our
oceans' ecosystems. We felt it was very important to strengthen our
impact on marine conservation by increasing our financial
commitment and supporting significant research projects in this
increasingly-important field." KMF's first major grant will be made
to The Nature Conservancy and its local partners, Bahamas National
Trust and Bahamas Sportfishing Conservation Association, which
together protect the ocean life and habitat of Andros Island in The
Bahamas. The waters surrounding Andros Island support a rich
variety of fish and other marine animals. The Nature Conservancy
plans to work with The Bahamas government to establish and maintain
a marine protected area. KMF's funding of this project will allow
for one of the largest concerted conservation efforts in history in
The Bahamas. "The pristine waters around Andros Island are a
phenomenal natural treasure for the people of The Bahamas and
indeed for the rest of the world, but they need protection to
remain healthy and beautiful," said Eleanor Phillips, Bahamas
Country Program Director for The Nature Conservancy. "By acting
now, with the support of the Kerzner Marine Foundation, we have a
priceless opportunity to make sure everyone can enjoy and benefit
from this treasure for generations to come." Other areas of
geographic focus for KMF include the Caribbean, Middle East and
Southeast Asia. In addition, the Foundation will promote education
and outreach to local communities where the programs are
implemented. Grants will be awarded quarterly from solicited
proposals. More information on the foundation can be found online
via the organization's website, www.kerznermarinefoundation.org.
The Foundation will be overseen by Debra Erickson, Executive
Director of KMF, along with a Board of Directors. Erickson was a
former Executive Director and Conservation Director of Orangutan
Foundation International and the Director of International and
Environmental Communications at Anheuser-Busch Companies. The Board
of Directors will initially be comprised of Howard Karawan,
President and Managing Director of the Destination Resorts segment
of Kerzner International Limited; John Allison, Executive Vice
President and Chief Financial Officer of Kerzner International
Limited; Frank Murru, Chief Marine Officer of Kerzner International
Limited; and Dr. Paul Dayton, one of the world's foremost marine
scientists, who will serve as the Foundation's Vice President and
Chair of the Scientific Advisory Committee ("SAC"). The SAC is an
independent body of world-renowned marine scientists responsible
for advising the KMF Board of Directors and Executive Director and
will operate under the leadership of Dr. Dayton, currently a
professor at Scripps Institution of Oceanography, whose work
focuses on the study of coastal and estuarine habitats as well as
the impact of over-fishing on marine ecosystems. The SAC will meet
four times a year to review Foundation goals, objectives and
strategy to ensure the funding of cutting-edge conservation and
research programs; identify organizations for solicitation of
proposals; provide expert evaluation of project proposals and
review of their scientific, technical, and conservation merit;
monitor the progress and evaluate the achievements of funded
programs; advise on the most productive balance and emphasis of
Foundation resources and establish and maintain partnerships with
like-minded organizations. The two other esteemed SAC members are
Dr. Tundi Agardy and Dr. Terry Done. Dr. Agardy has been involved
in marine conservation for more than 25 years. In her current
position as Executive Director of Sound Seas, she strives to
advance marine conservation efforts by harnessing both science and
sociology to protect the oceans. She is also affiliated with
Conservation International, where she was charged with designing
and implementing a Global Marine Program addressing major threats
to marine biodiversity and ecology. Dr. Agardy is joined by Dr.
Terry Done, who has been conducting coral reef ecology research for
more than 29 years. He completed the first descriptive work on
patterns of zonation in coral communities and established long-term
ecological studies that have continued to the present. As a Senior
Principal Research Scientist at the Australian Institute of Marine
Science and Program Leader for the Cooperative Research Center for
the Great Barrier Reef World Heritage Area, "Reef Futures," Dr.
Done works to raise the level of understanding of coral reef
ecology so as to lead to policies and management practices that
benefit both coral reefs and the people that depend on them. About
The Company Kerzner International Limited (NYSE:KZL), through its
subsidiaries, is a leading international developer and operator of
destination resorts, casinos and luxury hotels. The Company's
flagship brand is Atlantis, which includes Atlantis, Paradise
Island, a 2,317-room, ocean-themed destination resort located on
Paradise Island, The Bahamas - a unique property featuring three
interconnected hotel towers built around a 7-acre lagoon and a
34-acre marine environment that includes the world's largest
open-air marine habitat. The resort is also home to the largest
casino in the Caribbean. The Company recently commenced development
of a major expansion that includes a 600-room all-suite luxury
hotel and a significant enhancement of Atlantis water-based
attractions. Certain parts of this expansion have already opened,
including Marina Village at Atlantis, with the remaining elements
expected to open by early 2007. The Company is extending its
Atlantis brand globally with the development of Atlantis, The Palm,
Dubai, an approximately 2,000-room, water-themed resort expected to
open in 2008, currently being constructed on The Palm, Jumeirah, a
multi-billion dollar leisure and residential development in Dubai.
In its gaming segment, the Company developed and receives certain
income derived from Mohegan Sun in Uncasville, Connecticut, which
has become one of the premier casino destinations in the United
States. The Company is also a 37.5% owner of BLB Investors, L.L.C.,
which owns Lincoln Park in Rhode Island and pari-mutuel racing
facilities in Colorado. In the U.K., the Company is currently
developing a casino in Northampton and received a Certificate of
Consent from the U.K. Gaming Board in 2004. In its luxury resort
hotel business, the Company manages ten resort hotels primarily
under the One&Only brand. The resorts, featuring some of the
top-rated properties in the world, are located in The Bahamas,
Mexico, Mauritius, the Maldives and Dubai. An additional
One&Only property is currently in the planning stages in South
Africa. For more information concerning the Company and its
operating subsidiaries, visit www.kerzner.com. This press release
contains forward-looking statements, which are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. These forward-looking statements involve risks and
uncertainties which are described in the Company's public filings
with the U.S. Securities and Exchange Commission. Investor
inquiries regarding the Company should be directed to Omar Palacios
at+1.242.363.6018. Media inquiries should be directed to Lauren
Snyder at +1.242.363.6018.
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