The Trump Organization and Silk Road Group (SRG) jointly announce their decision to formally end the development of Trump Tower, Batumi, a residential condominium in the Republic of Georgia under the license agreement executed in March 2011. As such, the Trump Organization continues to hold SRG and the Republic of Georgia in the highest regard. SRG, in turn, is grateful to the Trump Organization for the time and attention they have dedicated to this project and fully understands the circumstances and accepts this request. Going forward, SRG plans to build a luxury condominium tower along the Georgian Black Sea coast in Batumi and is confident that this spectacular project envisioned by Mr. Trump during his visit to the Republic of Georgia in 2012, will strengthen Georgia’s bid to become a global destination.