• Submitted by: manso
• Travel and Tourism
• 09 / 03 / 2010

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VANCOUVER, BRITISH COLUMBIA, Sep 02, 2010 (MARKETWIRE via COMTEX) -- Leisure Canada Inc., /quotes/comstock/11v!lcn (CA:LCN 0.20, 0.00, 0.00%) a Canadian corporation with three large-scale luxury real estate projects under development, applauds the Cuban government's recent decision to allow foreign investors to use state-owned land for up to 99 years in a change that will accelerate development of luxury hotels and golf courses on the island.

The new law, published in the Official Gazette on Thursday August 26 2010, is aimed at "facilitating the process of participation of foreign investment in international tourism" by giving "greater security and guarantee to the foreign investor in the real estate business," according to Reuters.

Robin Conners, President and CEO of Leisure Canada, sees this change as a historic landmark that will spur development of Cuba's tourism infrastructure, helping to drive more visits and more foreign dollars into the economy. "It will serve to make Cuba much more competitive relative to Latin American tourism and help to attract thousands of new consumers to the Island."

Conners explains that Cuba can now offer the benefits of 99 years of ownership which facilitates bank financing, inspiring foreign buyers and investors to build new product in Cuba's popular recreational resort sector. This will be a major boost to
the economy and for companies like Leisure Canada with three ideally located luxury projects already under way.

"We see this important and reasoned decision as a progressive step that will have an important positive impact on Cuba's economy and standard of living," Conners notes.

About Leisure Canada Inc.

Leisure Canada Inc. is a publicly traded company, incorporated under the laws of Ontario and listed on the TSX Venture Exchange under the symbol "LCN". The Company is engaged in the business of developing hotel, resort and commercial properties in Cuba through its wholly-owned subsidiary, Wilton Properties Ltd. ("Wilton"), in joint venture with Grupo Hotelero Gran Caribe S.A. ("Gran Caribe"), an agency of the Cuban government.

For further information on the Company please visit our website at www.leisurecanada.com. The Company's public filings, including its most recent audited consolidated financial statements, can be reviewed on the SEDAR website (www.sedar.com).

Source: www.marketwatch.com