| Universal Enterprises Pvt
        Limited have formed a new subsidiary, Per Aquum Resorts & Spas, which
        will manage their portfolio of new luxury retreats. The company already has
        ten award winning resorts and 31 years experience as one of the leading resort operators in the Maldives. 
         The company
        said that it has identified the need to expand its current portfolio to satisfy the increasing demand for unique luxury
        holiday experiences and to cater for a niche in the luxury end of the holiday
        market. 
         MU Maniku, Chairman, explains: "Today's discerning travellers are very
        aware that the Maldives is probably the world's most desirable destination,
        and, while visiting the islands, they want the assurance that they are staying
        at the most luxurious resort. Per Aquum Resorts & Spas will lead the way in 
        creating some of the most exclusive holiday retreats, offering unique style experiences and a level of service that goes way beyond even the most
        demanding of expectations." 
          Tom
        McLoughlin has been appointed as Per Aquum Resorts & Spas'
        Managing Director.  McLoughlin's focus will be to lead Per
        Aquum in its strategic plans for the next twelve months, which include further enhancing Dhoni Mighili, which opened in
        July 2003, and opening the new Huvafen Fushi on the Universal property of
        Nakatchafushi. 
         Dhoni
        Mighili is a unique concept where accommodation is aboard a traditional yet
        luxuriously appointed Dhoni (a Maldivian sail boat) - and is just the beginning of the Per Aquum portfolio. 
         McLoughlin explained that "We as a team are looking at expanding Per
        Aquum on more of a horizontal matrix, where our guests will be able to differentiate our properties by the unique experience that each one offers, as
        opposed to purely on a star rating. Huvafen Fushi is the second property
        that Per Aquum will be opening in March 2004. Every single room at Huvafen
        Fushi has its very own private fresh water pool and the island will also be
        showcasing the first underwater Spa treatment rooms in the world." 
         The Spa division of Per Aquum Resorts & Spas will play an integral role in
        the success of the company. Aquum Spa will in its initial stages be managing
        the spas at Dhoni Mighili, Huvafen Fushi and Kurumba and are also looking at management contracts not only within Per Aquum resorts but
        externally as well.  |