Trump Toronto set to soar with $310-million construction financing

    TORONTO, March 23 /CNW/ - Toronto's Talon International Development Inc.
announced today that an agreement has been reached with international bank
Raiffeisen Zentralbank Vsterreich AG (RZB) to arrange $310-million in
construction financing for the developer's five-star Trump International Hotel
& Tower, Toronto.
    Construction of Canada's first Trump Tower is scheduled to begin later
this year.
    "This is a very exciting time for the entire Trump Toronto team," said
Talon Chairman Alex Shnaider. "Today's announcement represents the fulfillment
of our vision to build the finest hotel and residential condominiums in the
    "My partners and I are very pleased to have our financing arrangements
completed and we look forward to developing one of the most luxurious Trump
buildings we have ever built," stated Donald J. Trump. "I look forward to
starting construction on this great project very soon."
    Mr. Shnaider believes the universal appeal of the Trump brand and the
Trump Toronto team's global business experience has contributed greatly to the
success of the project - including the ability to attract a leading
multi-national commercial financing partner.
    "With over $250-million in pre-construction sales from buyers world-wide,
Trump Toronto is truly an international success story," said Mr. Shnaider. "I
am very pleased that we were able to leverage our international business
interests to secure construction financing with an exceptional European
financial institution like RZB."
    Raiffeisen Zentralbank Vsterreich AG (RZB) is the third largest bank in
Austria and one of the country's leading commercial and investment banks.
RZB's strong involvement in Central and Eastern Europe (CEE), its exceptional
growth and outstanding appeal to customers have made it one of the top players
in the region.
    "We are delighted to be involved in the financing of this historic and
dynamic project and are extremely pleased to continue our long-standing
relationship with both Mr. Shnaider and Midland Group," said Karl Sevelda,
Member of the RZB board.
    Located in the heart of Toronto's financial and entertainment districts,
the $500-million Trump International Hotel & Tower, Toronto will be one of the
tallest and most luxurious buildings in Canada when completed.
    Remaining hotel condominium suites are currently priced from CAD $800,000
and residential suites start at CAD $1.8 million.

    About the Development

    Trump International Hotel & Tower, Toronto, is a joint venture between
Donald J. Trump and Talon International Development Inc. Located at the
southeast corner of Bay and Adelaide, the Tower represents the epitome of
high-end luxury living and features the only five-star hotel condominiums
available for purchase in Toronto. The building was designed by the
Toronto-based firm Zeidler Partnership Architects.
    Talon International Development Inc. is comprised of Canadian and
international partners who possess an enviable track record of achievement in
creating, developing and building businesses throughout the world. Talon's
majority shareholder is Midland Resources Holding Limited. Founded in 1994,
Midland is a privately owned trading and investment-holding organization. The
Group has interests in a broad range of industries, including real estate,
steel production and trading and shipping. Midland's operations are global
with offices and agents in 35 countries worldwide.
    The Trump Organization specializes in five-star real estate development
and will operate and manage the hotel. The project will be the Trump
Organization's fourth Trump International Hotel & Tower and the first outside
the United States.
    Raiffeisen Zentralbank Vsterreich AG (RZB) is the central institution of
the Austrian Raiffeisen Banking Group, the country's largest banking group. It
is a leading corporate and investment bank in Austria and also considers
Central and Eastern Europe (CEE) as its home market. Via listed subsidiary
Raiffeisen International Bank-Holding AG, it operates one of the leading
banking networks in CEE with subsidiary banks and finance leasing companies in
16 markets. More than 12 million customers are attended to through more than
2,800 business outlets. Representative offices in Lithuania and Moldova
complement the group's presence in the region.
    RZB is the only Austrian bank with a global network of business units
reaching all important finance centres around the globe. It is also present in
Asia via its branches and representative offices.

    Detailed fact sheets and electronic images are available at

For further information:

For further information: Barry Landsberg, Trump International Hotel &
Tower, Toronto, (905) 417-3507,; Andreas
Ecker-Nakamura, Raiffeisen Zentralbank Vsterreich AG (RZB), +43-1-71 707-1753,; or Gregor Bitschnau, +43-1-71 707-1955,,,

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