ALHAMA DE MURCIA, SPAIN--(Marketwire - May 31, 2012) - Proyectos Emblemáticos Murcianos S.A. (PREMURSA) achieved another milestone in the development of the Paramount theme park and LifeStyle Center in Alhama de Murcia this morning, during a formal ceremony presided over by Ramón Luis Valcárcel, President of the Autonomous Community of Murcia; Joaquín Bascuñana, Delegate of the Government for the Region of Murcia; Alfonso Fernando Cerón, Mayor of the Town Hall of Alhama de Murcia; Michael Bartok, Executive Vice President of Paramount Licensing Inc.; and Jesús Samper, President and CEO of PREMURSA.

After purchasing the project land on March 7th, 2012, the groundbreaking ceremony took place today and, according to Jesús Samper, "the project will become an international tourist destination estimated to welcome more than 3 million visitors per year."

Michael Bartok declared Paramount's goal in Spain is the "establishment of a state-of-the-art theme park intended to attract and entertain both locals and tourists alike." That goal, according to Mr. Bartok, is bolstered by the region of Murcia "because of its outstanding location and climate as well as its variety of cultural and leisure attractions."

Furthermore, the first Paramount theme park in Europe and the LifeStyle Center will contribute to the economic development of the Region of Murcia by generating more than 22 thousand jobs, both directly and indirectly. In anticipation of receiving thousands of job applications, PREMURSA will create a virtual office on its website in the coming weeks to facilitate the processing of applications from individuals and companies interested in participating in the project.

Today's ceremony is a milestone in the development of a project that will come to fruition in the spring of 2015, with the opening of the Paramount theme park and the LifeStyle Center.

The Paramount theme park will include state-of-the-art attractions for all ages and will feature a retail spine along with four themed lands and two themed hotels.

Adjacent to the Paramount theme park, the LifeStyle Center will include a large hotel, commercial and leisure area that will be home to a street mall, restaurants, bars, night clubs and a casino.