Trans World Corp. Signs Agreement for Croatian Casino

NEW YORK -- (PRESS RELEASE) -- Trans World Corporation ("TWC" or the "Company") (OTC:TWOC) the owner and operator of casinos in Europe, is pleased to announce the execution of a management agreement with the Grand Hotel Lav d.o.o. to operate a luxury casino and nightclub in Podstrana-Split, Croatia.

The five-star Grand Hotel Lav Resort, situated on the recently rediscovered, central Dalmatian coast, is nearing the conclusion of an extensive renovation and construction project that will include, along with the casino and nightclub operated by TWC, a luxury hotel, numerous food and beverage outlets and banquet rooms, an elaborate spa facility, all of which will be managed by Le Meridien Hotels & Resorts, part of the Starwood Hotels & Resort portfolio. The resort will also feature a 60-yacht marina.

American Chance Casinos ("ACC"), TWC's affiliate in Europe, will manage the Grand Hotel Lav's casino and nightclub by implementing the same successful operating philosophy of casual gaming and entertainment embraced by TWC's existing venues. The approximately 27,000 square foot/2,500 square meter space will accommodate 140 slot machines and 20 gaming tables. Patrons can also enjoy a VIP lounge, a sports bar and a full-service restaurant. The nightclub will offer live entertainment and direct access to the casino. TWC intends to pursue an aggressive opening schedule with the goal of debuting the operation before Christmas 2006.