Trump Hotels & Casino Resorts expects to emerge from bankruptcy in early May

Houston, April 6 - Trump Hotels & Casino Resorts, Inc. said it expects to emerge from Chapter 11 in early May as Trump Entertainment Resorts, Inc., when its plan of reorganization becomes effective.

The plan was confirmed Tuesday by the U.S. Bankruptcy Court for the District of New Jersey.

The plan calls for a $400 million reduction in the company's indebtedness with a reduced interest rate of 8.5%. It represents an annual interest expense savings of $98 million.

The plan also includes a working capital facility of up to $500 million secured by a first priority lien on the company's assets. This will allow the company to refurbish and expand its current properties and allow it to enter into new and emerging markets.

The court moved the record date used in determining stakeholders entitled to receive any distributions under the plan from Feb. 9, 2005 to March 28, 2005.

Trump filed for bankruptcy on Nov. 22. Its Chapter 11 case number is 04-46898.

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