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Sunterra Corporation (NASDAQ: SNRR)
("Sunterra" or the "Company") announced today that it has closed agreements
with the Eden Leisure Group to acquire the Eden Bay Resort in Malta.com .com/cgi-bin/prnh/20040820/RESEARCH )
From small beginnings early in the 20th century, the offshore sector has
grown ever faster in response to high tax rates in the developed countries,
until it is estimated now that more than half of the worlds money is offshore.

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It is an interesting question , why they didn't -- maybe a
combination of individual self-interest and muddle? Our "Offshouring Special
Report, 2005" provides indepth business, legal, political and economic
perception as well as attractivness of this location as offshore tax haven.

mostly ethnic

Research and Markets: Business Legal Political and Economic Analysis of Western Samoa as an Offshore Tax Haven

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"The Maltese Islands are a popular choice for holidaymakers from the UK,"
commented Nick Benson, Sunterra's President and CEO. George's Bay; one of the largest fitness
centers in the area with an aerobics studio, indoor pool, climbing wall and
squash courts; a beauty spa with saunas and steam room; and a number of
high quality dining establishments offering a variety of cuisines.

The largest island is Tutuila with the capital city of Pago Pago.

samoans five

ABOUT SUNTERRA

Sunterra is one of the world's largest vacation ownership companies with
more than 300,000 owner member families and nearly 100 branded or
affiliated vacation ownership resorts throughout the continental United
States and Hawaii, Canada, Europe, the Caribbean and Mexico.com/reports/c18311 ) has announced the addition
of Offshoring Special Report: Doing Business in the Western Samoa, 2005 to
their offering.

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volcanic capital

We are pleased to be replacing inventory that we have sold
through in the past year with an attractive new destination at a reasonable
cost . We undertake no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information, future
events or otherwise.

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Consisting of 46 one and
two bedroom apartments, the resort will start accepting Club Sunterra
members from July 30th, 2005. Many of these
risks and uncertainties are presented in detail in our filings with the
Securities and Exchange Commission, including our most recent report on
Form 10-K.com
Fax: +353 1 4100 980

The country has a tropical climate with a population of about 60,000 mostly ethnic Samoans.

mostly samoans

com/reports/c18311

Laura Wood
Senior Manager
Research and Markets
press@researchandmarkets.

islands samoans

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researchandmarkets.

climate pago

"

The five-star resort is within the InterContinental Hotel Malta, giving
Club Sunterra guests access to an array of luxury amenities, including a
panoramic pool that overlooks St.
Offshore has no precise dictionary meaning: the word simply reflects the fact
that most low tax jurisdictions are islands.

American Samoa is an unincorporated territory of the United States consisting primarily of five volcanic islands and two coral atolls.

tropical oceania

sunterra.

Statements about booking availability made in this release constitute
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act.

consisting coral

coral unincorporated

Sunterra news
releases, as well as additional news and information on the Company, can be
found at www.
(Logo: http://www.

population samoans

This
strategic acquisition will add a further year round Mediterranean
destination to Sunterra's portfolio of resorts .newscom.

samoans primarily

DUBLIN, Ireland, Research and Markets
(http://www.

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PRESS RELEASE Sunterra Corporation Acquires Maltese Island Destination

Report Contents:

SUMMARY
GEOGRAPHY
POPULATION LANGUAGE AND CULTURE
GOVERNMENT
ECONOMY AND CURRENCY
ENTRY AND RESIDENCE
BUSINESS ENVIRONMENT
FOREIGN INVESTMENT REGIME
COMPANY INCORPORATION
CORPORATE
TRUST
PARTNERSHIP
SOLE PROPRIETORSHIP
BRANCH
OFFSHORE SECTORS
OFFSHORE ACTIVITIES
BANKING
HOLDING COMPANIES
INSURANCE
TRUSTS
CASE STUDIES
OFFSHORE REGULATIONS
TABLE OF STATUTES
BANKING LAW
LAW + TAXATION
OFFSHORE
FORMS OF OFFSHORE OPERATION
FEES PAYABLE BY FINANCIAL INSTITUTIONS
TAXATION OF FOREIGN EMPLOYEES OF OFFSHORE OPERATIONS
EXCHANGE CONTROL
EMPLOYMENT AND RESIDENCE
DOMESTIC
CORPORATE
BUSINESS LICENSE FEES
PAYROLL TAXES
PROPERTY TAXES
PERSONAL
RESIDENCE AND LIABILITY FOR TAXATION
PAYROLL TAXES
MUNICIPAL TAXES
LABOUR ENVIRONMENT
REGULATIONS
WORK PERMITS
FOREIGN RELATIONS
GEOPOLITICAL
TAXATION TREATIES
TRADE ALLIANCES
CONCLUSION

APPENDIX 1
PROCESS FLOW CHARTS

APPENDIX 2
LAW FIRMS
COMPANY FORMATION AND SHIP REGISTRATION
TRUST MANAGEMENT
ACCOUNTING AND AUDITING
TAX PLANNING
BANKING SERVICES AND ASSET MANAGEMENT
LISTING AGENTS AND STOCKBROKERS
ISP/HOSTING + E-COMMERCE SERVICE PROVIDERS
OFFICIAL REGULATORY BODIES
CAPTIVE INSURANCE MANAGEMENT

For more information visit
http://www.

tropical population

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The Company cautions that these statements are not
guarantees of future performance, and involve risks, uncertainties, and
other factors that may cause results to differ materially from those
anticipated at the time such statements are made , including risks
associated with making financial forecasts and estimates.

territory american

primarily consisting

This
coastal area is home to several of the island's newest hotels and
entertainment complexes, as well as historical attractions and the capital
city of Valletta, which is famous for its magnificent baroque architecture .

capital consisting

Loosely, it is used to mean
outside the control of the highly-taxed Western nations, although those
nations could have controlled the growth of offshore jurisdictions
(International Offshore Financial Centres = IOFCs) much more tightly if they
had wanted to.researchandmarkets.

primarily views

"We are sure that our
members will embrace this new vacation experience and enjoy the rich
history, culinary delights and culture as well as the seafront location of
the resort.