HYATT INTERNATIONAL TO OPERATE GRAND HYATT BEIJING

Mr. Bernd Chorengel, President of Hyatt International Corporation, and Mr. H. L. Kam, Chairman of Beijing Oriental Plaza Company Limited, have announced that Hyatt is to operate the 600-room Grand Hyatt Beijing which is scheduled to open in the last quarter of 2001.

Grand Hyatt Beijing is part of Beijing Oriental Plaza, an 800,000 square-metre commercial/retail/residential complex, the largest in China, located along East Chang An Avenue, in the heart of the capital's business, shopping, and tourist district. This premier location is only minutes' walking distance from Tian'anmen Square and the Forbidden City, and a 30-minute drive from Beijing International Airport. In addition to the crescent-shaped hotel, the commercial complex also houses Beijing's premier shopping centre, eight commercial buildings and four blocks of luxury service apartments. Architects for the project are Hong Kong-based Palmer & Turner Architects and Engineers Ltd.

"We are delighted with Hyatt's appointment to manage a Grand Hyatt in Beijing, the capital city of China and host to the 2008 Olympics. The signing of Grand Hyatt Beijing bears strategic importance to Hyatt International's development in the Greater China region. With Grand Hyatt hotels in Shanghai, Hong Kong, and now Beijing, we will have a strong presence in China's three major cities. This will enable us to provide an excellent network of luxury Grand Hyatt hotels to local and international travellers, hence supporting the development of these three cities as well as the entire Greater China region," said Larry Tchou, Senior Vice President - Asia Pacific, Hyatt International Corporation.

The 18-storey hotel will feature spacious, contemporary guestrooms, all with panoramic floor-to-ceiling glass windows. In-room technology will include interactive TVs with broadband internet access; on-line financial information; web TV service with wireless keyboard; computer data ports with high speed modem lines; two-line telephones; a separate fax line and voice mail messaging system. In keeping with the Grand Hyatt concept, the hotel will feature a variety of Food and Beverage outlets including a Cantonese restaurant, a Cafe restaurant, a Lobby lounge and a delicatessen. Twenty-four hour Room Service will also be available.

Grand Hyatt Beijing will offer the meeting or party planner a host of facilities: a high-ceiling, pillarless Ballroom seating 600 persons for dinner, and 10 additional function rooms of varied sizes which are ideal for meetings, conferences or social events. On-line video streaming and conferencing facilities will be available in all meeting rooms and a state-of-the-art Business Centre will operate round the clock.

Grand Hyatt Beijing will feature an extensive Health Club and Spa which includes a fully equipped gym, massage and treatment rooms, steam, sauna, and an Olympic-sized resort-style indoor swimming pool with a unique 'virtual sky' featuring 20 different weather phenomena.

Hyatt International is strong in the Asia-Pacific region and expansion continues at a fast rate. In the People's Republic of China, Hyatt will be opening three other hotels: Hyatt Regency Hangzhou in February 2002 and, in 2003, Hyatt Regency Chongqing and Park Hyatt Beijing. Currently, Hyatt International operates six hotels in the People's Republic of China: Hyatt Regency Hong Kong, Grand Hyatt Hong Kong, Hyatt Regency Macau, Grand Hyatt Shanghai, Hyatt Regency Tianjin and Hyatt Regency Xian. Together, these properties will comprise 4,483 guestrooms.