Santa Lucía S.A. joint venture established

                   • Council of State Vice President Carlos Lage attends signing • The
                   new joint venture will build a four-star, 720-room hotel named after
                   the northern Camagüey beach resort where it will be located • The
                   project is valued at $62 million USD, including the land

                   BY LUZ MARINA FORNIELES (Special for Granma International)

                   THE Santa Lucía S.A. company, a joint Cuban-Spanish hotel venture,
                   was established in an official ceremony at the Hotel Nacional de
                   Cuba, attended by Carlos Lage, vice president of the Council of
                   State.

                   This project includes the planning, building, operation and marketing
                   of a four-star, 720-room hotel which takes its name from the
                   Camagüey beach resort where it will be constructed. Building will
                   begin in the coming year and be completed in 2004.

                   Signing the documents for the new international economic
                   association were Spanish representatives Juan Carlos Lazo Ramos,
                   on behalf of Enrique Martinón, and Juan Antonio Monte Navarro from
                   Grubarges Inversiones; Manuel Estefanía, president of Gran Caribe
                   Group’s Gran Antilla division, signed for the Cuban part.

                   The project is estimated at $62 million USD, including the land value.
                   This joint project is the sixth of its kind for Gran Antilla, thus bringing
                   the number of the island’s joint tourism ventures to more than 30.

                   Once ready, the installation will be managed by Spanish firm Barceló,
                   whose head attended the signing.

                   BARCELO WANTS TO EXPAND CUBA’S TOURISM

                   Over the next three years, the Barceló group hopes to manage
                   5,000 rooms in Cuba, stated the company’s president, Simón
                   Barceló Tous in Havana. He predicted that Cuba has a good future in
                   tourism.

                   His company forms part of Grubarges, and will also be responsible
                   for running the future hotel, property of the recently founded joint
                   venture Santa Lucía S.A..

                   When asked why this was the first time he had done business in
                   Cuba, Barceló replied that although it was true his company was one
                   of the last from Spain to invest in Cuban tourism, the current project
                   would be one of the first of its kind.

                   "In fact," he continued, "we have taken the first steps: in December
                   we will begin managing the 525-room Solymar, in Varadero." He
                   added that although they were starting off in that famous beach
                   resort, they plan to look towards Havana, recalling that last year
                   Barceló formed another joint venture, on that occasion with
                   Cubanacán, for developments in Cayo Coco, on Ciego de Avila’s
                   northern coast.

                   He confirmed that Cuba is one of the Caribbean’s best destinations,
                   because not only does it have sun and beaches, but also innumerable
                   cultural, ecological, historical and architectural attractions that do not
                   exist in other small countries in the region.

                   The Barceló company has more than 100 hotels and 25,000 rooms
                   in 18 nations, and has been working in the Caribbean for 15 years.
                   Although the company’s head recognized the impact of the
                   September 11 occurrences, he shared his hope that people will start
                   taking vacations again in December.