HILTON INTERNATIONAL TO OPERATE RESORT IN HUA HIN, THAILAND

Hilton International has signed a 20-year management agreement to manage and operate the 297-room Hilton Hua Hin in Thailand on behalf of the Tipco Group of Companies and Asia Hotel Investment Ltd. The existing resort will be upgraded and repositioned to a five star property by refurbishing the guestrooms and public areas and making other cosmetic improvements. The renovations are scheduled to be completed by the middle of 2001.

The new Hilton Hua Hin, located in Thailand's most historic seaside town, is situated on over 24,000 square meters of garden grounds on central Hua Hin's main beach, directly overlooking the Gulf of Siam. The property is also easily accessible by air and rail as it is 4km from the new international airport which is currently under construction and just five minutes away from the railway station.

"The opening of Hilton Hua Hin fits our leisure strategy of aggressively expanding our resort portfolio in Asia Pacific." said Koos Klein, President of Hilton International Asia Pacific, "Hilton Hua Hin will be supported by Hilton's powerful marketing programs, including Hilton HHonors, and our global sales and reservations offices, benefiting customers and contributing to the long-term success of the hotel."

The resort currently features 297 guestrooms and suites, a coffee shop and terrace, a lobby lounge, a Chinese restaurant, an Italian restaurant, a disco and fun pub, a pool bar and retail shops. There will also be a full service business centre; and five banquet and meeting rooms that can accommodate up to 500 guests. For recreation, there are two tennis courts, two squash courts and a health club. Guests will also be able to enjoy traditional Thai spa treatments at Hilton Hua Hin's new spa (opening in early 2001), which commands expansive views of the ocean.

Hilton Hua Hin will be Hilton's second property in Thailand and the 31st Hilton property in Asia Pacific. Hilton's other resorts in Asia Pacific include Hilton Guam in Guam, Kyongju Hilton in Korea, Hilton Tokyo Bay and Hilton Otaru in Japan, Hilton Cairns in Australia, Maldives Hilton Rangali Island in the Maldives and Hilton's first nature resort in Asia, Hilton Batang Ai Longhouse Resort in Sarawak, East Malaysia.

Hilton International also operates resorts in the Mediterranean, Egypt, The Middle East and the UK.

Hilton Hotels Corporation and Hilton International, a subsidiary of Hilton Group plc, have a worldwide alliance to market Hilton, the world's best-known hotel brand. Collectively offering approximately 2,000 hotels in more than 50 countries worldwide, both companies are recognised as leaders in the hospitality industry. Hilton International currently operates more than 220 hotels in over 50 countries worldwide.

The Tipco Group of Companies consists of a core of some fifteen companies with two main areas of interest: the production and export of canned pineapple and the manufacturer and distribution of asphalt. Two of these companies, Thai Pineapple Public Co., Ltd and the Tipco Asphalt Public Co., Ltd are leaders in their respective fields and both are quoted on the Stock Exchange of Thailand (SET).

Asia Hotel Investments Ltd (AHIL) is a hotel investment company based in Great Britain, the United Kingdom. The Company was established in 1998 with the objective of acquiring well located first class international full-service hotels and serviced apartments in Thailand and throughout other parts of Asia.

NOTE - Ed

The Hilton Hua Hin was previously the Melia Hua Hin