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2014-04-30

Thunderbird Resorts Inc.: 2013 Annual Report Filed

Thunderbird Resorts Inc. / Thunderbird Resorts Inc.: 2013 Annual Report Filed.
Processed and transmitted by NASDAQ OMX Corporate Solutions. The issuer is
solely responsible for the content of this announcement.
PANAMA, REPUBLIC OF PANAMA--(Marketwired - Apr 30, 2014) - Thunderbird Resorts
Inc. ("Thunderbird") (EURONEXT: TBIRD) (FRANKFURT: 4TR) is pleased to
announce that its 2013 Annual Report and Audited Consolidated Financial
Statements have been filed with the NYSE Euronext ("Euronext Amsterdam") and
the Netherlands Authority for Financial Markets ("AFM").

As a Designated Foreign Issuer with respect to Canadian securities
regulations, the Annual Report is intended to comply with the rules and
regulations set forth by the AFM and the Euronext Amsterdam. Copies of the
Annual Report in the English language will be available at no cost at the
Group's operational office in Panama and at the offices of our local paying
agent ING CB CBS/SecServ/IS/PAS, Bijlmerplein 888, AMP L.02,007, 1102 MG
Amsterdam, the Netherlands (tel: +31 20 563 6619, fax: +31 20 563 6959,
email:iss.pas@ing.nl) and they are available on the Group's website
atwww.thunderbirdresorts.com. Copies are also available on SEDAR
atwww.SEDAR.comand on the Euronext Amsterdam atwww.euronext.com.

ABOUT THE COMPANY

We are an international provider of branded casino and hospitality services,
focused on markets in Latin America. Our mission is to "create extraordinary
experiences for our guests." Additional information about the Group is
available on its Website atwww.thunderbirdresorts.com.

Cautionary Notice: Cautionary Notice: The Annual Report referred to in this
release contains certain forward-looking statements within the meaning of the
securities laws and regulations of various international, federal, and state
jurisdictions. All statements, other than statements of historical fact,
included in the Annual Report, including without limitation, statements
regarding potential revenue and future plans and objectives of Thunderbird
are forward-looking statements that involve risk and uncertainties. There can
be no assurances that such statements will prove to be accurate and actual
results could differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ materially from
Thunderbird's forward-looking statements include competitive pressures,
unfavorable changes in regulatory structures, and general risks associated
with business, all of which are disclosed under the heading "Risk Factors"
and elsewhere in Thunderbird's documents filed from time-to-time with the
NYSE Euronext Amsterdam and other regulatory authorities. Included in the
Annual Report are certain "non-IFRS financial measures," which are measures
of Thunderbird's historical or estimated future performance that are
different from measures calculated and presented in accordance with IFRS,
within the meaning of applicable Euronext Amsterdam rules, that are useful to
investors. These measures include (i) Property EBITDA consists of income from
operations before depreciation and amortization, write-downs, reserves and
recoveries, project development costs, corporate expenses, corporate
management fees, merger and integration costs, income/(losses) on interests
in non-consolidated affiliates and amortization of intangible assets.
Property EBITDA is a supplemental financial measure we use to evaluate our
country-level operations. (ii) Adjusted EBITDA represents net earnings before
interest expense, income taxes, depreciation and amortization, equity in
earnings of affiliates, minority interests, development costs, and gain on
refinancing and discontinued operations. Adjusted EBITDA is a supplemental
financial measure we use to evaluate our overall operations. Property EBITDA
and Adjusted EBITDA are supplemental financial measures used by management,
as well as industry analysts, to evaluate our operations. However, Property
and Adjusted EBITDA should not be construed as an alternative to income from
operations (as an indicator of our operating performance) or to cash flows
from operating activities (as a measure of liquidity) as determined in
accordance with generally accepted accounting principles.

Contact Information

Contacts:
Thunderbird Resorts Inc.
Peter LeSar
Chief Financial Officer
plesar@thunderbirdresorts.com

www.thunderbirdresorts.com

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Thunderbird Resorts Inc. via Globenewswire

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