Beneficial Holdings Inc (BFHJ)

[RLeo]

FOR IMMEDIATE RELEASE 19 October 2009
Thunderbird Announces Termination of Offering of Common Stock
Amsterdam -- Thunderbird Resorts Inc. (“Thunderbird” or “Group”) (NYSE Euronext
Amsterdam: TBIRD and FSE: 4TR) announced on 29 September 2009 that it launched a
public offering and private placement of up to 75,000,000 shares of its common stock (or
86,250,000 shares of its common stock if the over-allotment is exercised) with an offer price
range of $1.00 to $1.25 per common share (the “Offering”). The Group further announced that
the subscription period for prospective investors commenced on 30 September 2009 and was to
end on 14 October 2009 at 17:00 hours Amsterdam time, subject to acceleration or extension of
the timetable for the Offering. Furthermore, on 13 October 2009 the Group elected to extend the
subscription period from 14 October 2009 at 17:00 hours Amsterdam time to 22 October 2009 at
13:00 hours Amsterdam time.
As of 19 October 2009, due to market feedback, the Offering of common stock will not be
consummated and is therefore terminated. As previously reported, the Group will continue its
efforts to restructure its debt, working to secure modified maturity dates where possible.
However, there can be no assurance we will be able to successfully refinance existing
indebtedness or obtain additional new financing on satisfactory terms, or at all.