Isle of Capri appoints Virginia McDowell to become CEO

McDowell, the Company's current President and CFO, will also continue to serve in the role of president of the Company following the transition.

James B. Perry, the Company's current Chairman and CEO, will remain as executive chairman, in which capacity he will continue to provide strategic direction to the Company. The Company originally announced the executive transition plan for 2011, including the retirement of Mr. Perry and promotion of Ms. McDowell, on January 18, 2011.

The announcement sets the official effective date of the transition. April 25, 2011, marks the first day of the Company's 2012 fiscal year, and is the effective date of the new, 3-year contracts between the Company and both Virginia McDowell and James B. Perry.

McDowell commented, "We are concluding a fiscal year full of accomplishment. We have improved our capital structure, continued to improve our operations, and recently broke ground on our exciting new project in Cape Girardeau, Missouri. With our stronger balance sheet, upcoming growth, dedicated team and a solid strategic plan, I am excited about the opportunities in store for the future of Isle of Capri."

McDowell also noted that the search for a new COO is ongoing, and is expected to conclude this summer.

McDowell joined Isle of Capri as president and COO in July 2007, and has held leadership positions in the gaming industry across the United States during her 30-year career.