SUPERIOR DEVELOPMENT GROUP, INC. (Pink Sheets: SDVG)

Dear Reader,

Quite some time ago we introduced you to Superior Development Group SDVG, a company literally building it's name in the construction industry. SDVG's highly cost-effective business model was seen then as a viable option to needy geographic areas in the post Hurricane Katrina disaster areas. Additionally, SDVG had some unique currency in that they had ALREADY in place, valuable government relationships and funding options.

Now it appears that SDVG has pushed the envelope further yet, using their highly-efficient construction method to secure a lucrative contract in the burgeoning casino industry.  Take a moment to read why SDVG has literally hit the Jackpot.

Superior Development

Press Release 
Source: Superior Development Group, Inc.; Triad Resorts, LLC
Tuesday August 15, 8:00 am ET

CLARKSDALE, MS--(MARKET WIRE)--Aug 15, 2006 -- Superior Development Group, Inc. (Other OTC:SDVG.PK - News) ("Superior Development") announced today that Triad Resorts, LLC, a Nevada Limited Liability Corporation, and Superior Development have entered into discussions with Capmark Financial Group Inc. (Capmark), formerly known as GMAC Commercial Holding Corporation, to provide financing for the proposed Spanish Bit Hotel & Casino in Jackpot, Nevada as stated in the press release on August 7, 2006. Initial discussions with Capmark indicate that the financing plan and terms will be a 70% loan to cost and an interest rate of 250 to 300 basis points above libor.

Superior Development also announced that it has also entered into discussions with Newbridge Securities Corporation to privately place its secured convertible preferred stock to provide the equity for the proposed hotel and casino. Derrick Neal, President and CEO of Superior Development, commented, "We are very pleased about the interest that we have received from the institutional financial community for the financing of this project and we are equally pleased that Triad Resorts, LLC, our partner in this venture, under the leadership of Patrick Howard, has put together such a unique resort hotel and casino deal."

About Superior Development Group, Inc.

Superior Development Group, Inc. is a publicly traded multi-faceted real estate development Company that primarily develops affordable single and multifamily housing communities. The Company operates through subsidiaries which purchase raw land or undervalued properties, improves them and profits from the investment through development fees, sales income or rental income. In addition to prospective real estate housing opportunities Superior Development has also entered into the Resort Hotel and Casino business with the planned acquisition of Triad Resorts, LLC, a Nevada Limited Liability Corporation.

Additional information about Superior Development Group, Inc. is available online at www.superiordevelopmentgroup.com

About Triad Resorts, LLC

Triad Resorts, LLC is a Nevada Limited Liability Corporation formed for the purpose of developing major entertainment and hospitality centers in selected destination resort cities throughout the Western U.S. and selected international markets. The Company's mission is to bring sustainable economic stimulus to destination communities through responsible themed resort developments. The Company's initial Project is planned for Jackpot, Nevada.

Additional information about Triad Resorts, LLC is available online at www.triadresorts.com

About Capmark Financial Group Inc.

Capmark Financial Group Inc. (Capmark), formerly known as GMAC Commercial Holding Corp., is a leading real estate financial company with three core businesses: lending and mortgage banking, investments and funds management, and servicing. Capmark has more than 3000 employees, 105 offices and operations in North America, Asia and Europe. In 2005, Capmark's originations were $29.9 billion.

Additional information about Capmark Financial Group Inc. is available online at www.capmark.com

Safe Harbor

This press release contains or may contain forward-looking statements such as statements regarding the Company's growth and profitability, growth strategy, liquidity and access to public markets, operating expense reduction and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company's public filings. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.

Contact:

     Contact:
     Derrick D. Neal
     President / CEO
     (662) 627-3000

Source: Superior Development Group, Inc.; Triad Resorts, LLC
 

About Superior Development

Superior Development Group, Inc. (Superior) (SDVG) is a multi-faceted real estate development, construction-operative builder, and sales company based in Clarksdale, Mississippi.  SDVG is focused in four major areas of the housing market: 

• Affordable lease-to-purchase single family residential development 
• Development of affordable multi-family rental housing 
• Acquisition and development of raw land for subdivision development 
• Acquisition and rehabilitation of existing multi-family and commercial properties 

Triad Resorts Jackpot Project, expected to cost an aggregate of $110 million, will consist of: 300 condo-hotel resort two-bedroom lock-out units; a 30,000 sf indoor waterpark; 126,000 sf events center facilities that will entertain rodeo, concerts and other events; a 90,000 sf casino with restaurants, spa and retail; and an 80-lot recreational vehicle park (the “Project”). The Project will be built on approximately 40 acres of 113.36 acres of Company owned land located within the unincorporated City limits of Jackpot, Nevada, a highly popular resort town located along the Nevada-Idaho border.

This state-of-the-art Project has an estimated all-in construction cost of $98.26 million and is expected to be the largest such facility in the High Desert Area of Northern Nevada and Southern Idaho. Construction is expected to commence October 2006 with an expected completion in March 2008, and will incorporate the use of geothermal resources in the design. The Project will be open year-round and will provide family entertainment servicing both “day trippers” as well as vacation-stay guests. 

Under its agreement with Triad Resorts, Superior Development will become the lead developer with a 60% ownership interest in Triad's planned Casino Resort developments in Jackpot, Elko and Wendover, Nevada. Triad's first project is scheduled to be in Jackpot and will be built on 113 acres of land controlled by Triad and properly zoned for the development. It will consist of a four-star condo/hotel featuring 301 rooms, a 50,000 square-foot building that will include a casino, spa and salon, three restaurants and gift shops, an indoor 30,000 square-foot water park and many other resort amenities.

Financing for each casino development is anticipated to be funded by a combination of senior debt, a mezzanine loan and equity funding through the sale of Superior Development convertible-preferred or common stock. Under its Agreement with Triad, Superior Development will earn development fees estimated to be $18,000,000 for each casino, payable during construction of the casino as well as 60% of the revenue stream estimated to be $35,000,000 EBITDA for each casino operation. All three resorts are estimated to be operational in 24 to 60 months.

Other Recent News From SDVG

Press Release 
Source: Superior Development Group, Inc.
Monday August 7, 10:51 am ET

JACKPOT, NV--(MARKET WIRE)--Aug 7, 2006 -- Superior Development Group, Inc. (Other OTC:SDVG.PK - News) ("Company" or "Superior Development") announced today that the Company has entered into a memorandum of understanding to acquire a 60% interest in Triad Resorts, LLC ("Triad"), a Nevada Limited Liability Corporation that is developing casino and hotel properties for the resort destination gaming industry.

Under the agreement Superior Development will become the lead developer with a 60% ownership interest in Triad's planned Casino Resort developments in Jackpot, Elko and Wendover, Nevada. Triad's first project is scheduled to be in Jackpot and will be built on 113 acres of land controlled by Triad and properly zoned for the development. It will consist of a four-star condo/hotel featuring 301 rooms, a 50,000 square-foot building that will include a casino, spa and salon, three restaurants and gift shops, an indoor 30,000 square-foot water park with capacity for 550 people daily, a RV park with 80 full-service spaces, indoor climate controlled center that features bleacher seating for up to 4,000 people, as well as floor seating for 1,200 people and an outdoor multiuse arena featuring 100 indoor stalls and four concession stands. The casino developments in Elko and Wendover will feature the same type western theme.

Financing for each casino development is anticipated to be financed by senior debt of 65-70% of cost, a mezzanine loan and equity from Superior Development from the sale of convertible-preferred or common stock via a private placement. Under the Agreement with Triad, Superior Development will earn development fees estimated to be $18,000,000 for each casino, payable during construction of the casino as well as 60% of the revenue stream estimated to be $35,000,000 EBITDA for each casino operation. All three resorts are estimated to be operational in 24 to 60 months.

"We are pleased that Triad has selected our Company to be its partner and lead developer in this awesome venture," said Derrick Neal, Chairman and CEO of Superior Development. Triad's managing member, Patrick Howard also stated that, "We are excited to have Superior Development join in with us as we move forward to complete the financing and begin construction of our casino projects."

About Superior Development Group, Inc.
Superior Development Group, Inc. is a publicly traded multi-faceted real estate development Company that primarily develops affordable single and multifamily housing communities. The Company operates through subsidiaries which purchase raw land or undervalued properties, improves them and profits from the investment through development fees, sales income or rental income. In addition to prospective real estate housing opportunities Superior Development has also entered into the Resort Hotel and Casino business with the planned acquisition of Triad Resorts, LLC, a Nevada Limited Liability Corporation.

Additional information about Superior Development Group, Inc. is available online at www.superiordevelopmentgroup.com

About Triad Resorts, LLC
Triad Resorts, LLC is a Nevada Limited Liability Corporation formed for the purpose of developing major entertainment and hospitality centers in selected destination resort cities throughout the Western U.S. and selected international markets. The Company's mission is to bring sustainable economic stimulus to destination communities through responsible themed resort developments. The Company's initial Project is planned for Jackpot, Nevada.

Additional information about Triad Resorts, LLC is available online at www.triadresorts.com

Safe Harbor
This press release contains or may contain forward-looking statements such as statements regarding the Company's growth and profitability, growth strategy, liquidity and access to public markets, operating expense reduction and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company's public filings. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.

Contact:

     Contact:
     Derrick D. Neal
     President/CEO
     (662) 627-3000
      
Source: Superior Development Group, Inc.
 

Financial Highlights For SDVG

State of Incorporation: MS - 1997 52 Week High: $ 4.05   52 Week Low: $ 0.10 Recent Price $1.50 Shares O/S: 10,635,000 as of 2005-05-24

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