Pinney's Resort Ltr of Intent

RNS Number:2764W
Newfound N.V.
09 May 2007

                                 Newfound N.V.

                         ("Newfound" or "the Company")

          Newfound signs LOI with Global Luxury Hotel and Resort Brand


Newfound, the creator and operator of a planned family of international luxury
resort destinations, is pleased to announce the signing yesterday of a
non-binding letter of intent with Starwood Hotels & Resorts Worldwide, Inc.  The
agreement outlines the potential development of a 150-room W(R) Retreat and Spa
hotel and a number of W(R) branded fractional ownership units at Newfound's
Pinney's Estate Resort on the Caribbean island of Nevis.  Newfound and Starwood
will now negotiate the detailed terms of definitive agreements relating to the
operation of the hotel and the branding of the fractional ownership units.


Brian Dobbin, founder and CEO of Newfound, said:


"Having spent considerable time last year examining the brands of the
international resort hotel industry, we are extremely pleased to be taking this
next step with the Starwood Hotels & Resorts and their W(R) brand.  We believe
Starwood is the leading hotel and luxury resort operator in the world and the W
team is a particularly good fit for the vision we have of the Pinney's Estate
Resort development.  Their exceptional combination of 5 star service and style,
and their delivery of experience mirrors what we are creating in Nevis."



Ends




For further information, please contact:
Newfound N.V.
Edwin Richards                                       +44 (0)20 7470 2490

Cubitt Consulting
Michael Henman/John Beresford-Peirse                 +44 (0)20 7367 5100

Collins Stewart
Adrian Hadden                                        +44 (0)20 7523 8353




                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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