RUDEN MCCLOSKY HOSTS INVESTOR FORUM FEATURING THE PRIME MINISTER OF THE BAHAMAS

September 13, 2003

Bahamas Prime Minister Perry G. Christie visited Fort Lauderdale on Friday, touting Florida's proximity to the islands as good reason to forge a lucrative real-estate relationship.

Lauding the islands' stable political climate and vast potential, Christie addressed about 60 South Florida and Bahamian investors and government officials at the Broward Center for the Performing Arts in Fort Lauderdale.

''We are close, familiar and exotic,'' Christie said at the South Florida Investors Forum. ``We've had this long, historical relationship with this part of the United States.''

The event, hosted by law firm Ruden McClosky, came on the year of the 30th anniversary of the Bahamas' independence from Great Britain.

For years the Bahamas have served as a popular cruise ship stopover. Christie is now seeking permanent, foreign investment for the country of 300,000 people.

Christie, 60, outlined the $1 billion in land acquisitions and $1.6 billion in development projects made through foreign transactions during a recent one-year period.

The country's scattered islands, such as Abaco, Grand Bahama and Andros, are ripe for room to build, Christie said.

Broward County Commissioner Josephus Eggelletion said the county's relationship with the Bahamas has grown, with many coming from the island to shop at Sawgrass Mills mall and the Swap Shop.

''Bahamians now fly more into Broward County far more than into Dade'' said Eggelletion, who played a role in bringing Christie to Fort Lauderdale. ``There's a national nexus here.''

According to the 2000 Census, two-thirds of America's Bahamians live in Florida, accounting for some 17,339 people. About 4,200 live in Broward.

On Friday, Broward Mayor Diana Wasserman-Rubin presented Christie -- the son of a taxi driver and nurse -- with a key to the county.

And Fort Lauderdale Mayor Jim Naugle gave Christie a key to the city.

The Bahamas' relatively safe environment could make it a perfect draw for Floridian investment, particularly with beachfront and luxury housing, said Jim Cole, the forum's host and a Ruden McClosky attorney.

''I didn't realize the stability of the Bahamian government and their willingness to reach out to America,'' said Frank Rodgers of Minto Communities, a real estate company based in Coconut Creek.

Christie did not forget his country's tourism, one of its chief economic industries.

With travel down since the 9/11 terrorist attacks, Christie said the 50-mile distance between South Florida and the Bahamas makes for an easy getaway.

A billboard on Interstate 595 in central Broward touts 18-minute flights to the Bahamas.

''People of America are recognizing the closest country to America is the Bahamas,'' Christie said.

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