CCA Companies Acquires Casino in Budapest, Hungary; Expects Completion of Suriname Casino in July 1998.

COCONUT GROVE, Fla.--(BUSINESS WIRE)--April 7, 1998--Dorsett Hotels and Resorts, Inc., a subsidiary of CCA Companies Incorporated (Nasdaq:RIPE), announced today that it has entered into an agreement to acquire a 95 percent stake in Roulette Kft. which owns and operates the Casino Orfeum, a 10,000 square foot casino located in a four-star Radisson Hotel in downtown Budapest, Hungary. In exchange, CCA is putting up $1,130,000 of which $460,000 is in CCA stock valued at $7.50 per share, or a total of 61,333 shares. While the transaction is subject to approval from the Hungarian Gaming Board, Dorsett will take over management of the casino effective this week.

In additional news, CCA announced that it presently anticipates opening the Dorsett Plaza Casino in Paramaribo, the Capital City of Suriname (the former Dutch Guyana), in July of this year. The casino project, a 50-50 joint venture with Parbhoe Handelmij NV, will be located in the Parbhoe-owned and operated Plaza Hotel in downtown Paramaribo under a 15-year lease, and will function under a 15-year renewable casino license which the joint venture has received from the Surinamese government.

The Company added that it currently expects to complete the bidding process on the 40 percent CCA-owned, $100 million hotel and casino project located on Russia's Sakhalin Island in June of this year, with construction beginning immediately. Phase one of the project, which includes opening of the casino and a 449 room hotel, is presently scheduled to be completed in June of 1999.

Commenting on the transactions, Charles Stein, Chairman and President of CCA, stated, "The acquisition of Casino Orfeum marks an important step in the development of our hotel and casino division. In addition to being one of the most popular casinos in the region, Orfeum will immediately serve as a training facility for the management and staff of our Suriname casino as well as for the Sakhalin project at a later date. When coupled with our recently announced contract to manage a group of hotels in Asia, Australia and North America, of which we are already managing three facilities, we would expect CCA to generate increasing revenues during the second quarter of 1998."

Added David Hartley, President of the gaming division, "We are delighted to have this opportunity to own and operate a casino in thriving downtown Budapest. This facility, which opened in 1993, is frequented not only by local residents, but by numerous tourists as well as a large percentage of the local Chinese population. Based on the casino's performance to date and our team's ability to maximize returns, we anticipate Orfeum benefiting CCA and its shareholders almost immediately."

CCA Companies Incorporated has recently expanded its business to include the management and ownership of hotels and casinos. The hotel/casino division currently includes a project for the construction and management of a 40 percent CCA-owned, $100 million hotel and casino project scheduled to open on Russia's Sakhalin Island during the first half of 1999; management of a 50 percent CCA-owned casino in Paramaribo (the Capital City of Suriname) scheduled to open July 1998; and a contract for the management of eight hotels. Under its food division, the Company also manufacturers and markets Preservit(TM), a non-invasive, food technology product which extends the life of fruits, vegetables and flowers during transportation and storage.

Certain of statements contained in this press release may be deemed forward looking statements. Such statements, and other matters addressed in this press release involve a number of risks and uncertainties. Among the factors that could cause actual plans to differ materially from these statements and other matters are risks associated with its Preservit(TM) distributor, with entering a new line of business, compliance with regulatory matters, ability to obtain financing on favorable terms, delays in the bidding process, construction delays, the execution of final documents, risks inherent in international operations, restrictions and controls on foreign investments, and other risk factors detailed, from time to time, in the Company's reports with the U S. Securities and Exchange Commission.

CONTACT: Rubenstein Investor Relations 

Clint Cantwell

[phone]