ISLE Isleworth Healthcare Acquisition Corporation

Isle of Capri Casinos, Inc. Enters into Memorandum of Understanding with Bedford Downs Management Corporation BILOXI, Miss., Oct. 26 /PRNewswire-FirstCall/ -- Isle of Capri Casinos, Inc. (NASDAQ:ISLE) officials announced today that the company has entered into a memorandum of understanding with Bedford Downs Management Corporation [BDMC] to acquire a 30 percent interest in that company's proposed Bedford Downs harness racing facility. BDMC currently has an application pending with the Pennsylvania Harness Racing Commission to develop a harness track near New Bedford, Pa. If BDMC is successful in receiving a harness license, the company also expects to seek necessary approval to operate slot machines at the facility. Under the terms of the MOU, Isle would manage any slot gaming operations at Bedford Downs. The transaction contemplated under the MOU, and development of this project are subject to certain conditions including, but not limited to, the execution of definitive agreements by both parties, and receipt of all necessary licenses and approvals. Isle of Capri Casinos, Inc., a leading developer and owner of gaming and entertainment facilities, operates 16 casinos in 14 locations. The company owns and operates riverboat and dockside casinos in Biloxi, Vicksburg, Lula and Natchez, Mississippi; Bossier City and Lake Charles (two riverboats), Louisiana; Bettendorf, Davenport and Marquette, Iowa; and Kansas City and Boonville, Missouri. The company also owns a 57 percent interest in and operates land-based casinos in Black Hawk (two casinos) and Cripple Creek, Colorado. Isle of Capri's international gaming interests include a casino that it operates in Freeport, Grand Bahama, and a two-thirds ownership interest in casinos in Dudley, Walsal and Wolverhampton, England. The company also owns and operates Pompano Park Harness Racing Track in Pompano Beach, Florida. CONTACT: Allan B. Solomon, Executive Vice President/General Counsel, 561/995-6660. Rex Yeisley, Senior Vice President/Chief Financial Officer, 228/396-7000. Lori Hutzler, Director of Corporate Communications, 228/396-7031 This press release contains forward-looking statements which are subject to change. These forward-looking statements may be significantly impacted, either positively or negatively by various factors, including without limitation, licensing, and other regulatory approvals, financing sources, development and construction activities, costs and delays, permits, weather, competition and business conditions in the gaming industry. The forward- looking statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from those expressed in or implied by the statements herein. Additional information concerning potential factors that could affect the company's financial condition, results of operations and expansion projects, is included in the filings of the company with the Securities and Exchange Commission, including but not limited to, its 10-K for the fiscal year ended April 25, 2004 and 10-Q for the fiscal quarter ended July 25, 2004. Other Isle of Capri Casinos, Inc. press releases and a corporate profile are available at http://www.prnewswire.com/ . Isle of Capri Casinos, Inc.'s home page is http://www.islecorp.com/ . Photo: http://www.newscom.com/cgi-bin/prnh/20020502/ISLELOGO AP Archive: http://photoarchive.ap.org PRN Photo Desk, photodesk@prnewswire.com DATASOURCE: Isle of Capri Casinos, Inc. CONTACT: Allan B. Solomon, Executive Vice President/General Counsel, +1-561-995-6660, or Rex Yeisley, Senior Vice President/Chief Financial Officer, +1-228-396-7000, or Lori Hutzler, Director of Corporate Communications, +1-228-396-7031, all for Isle of Capri Casinos, Inc. Web site: http://www.theislecorp.com/

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