SIX SENSES UPDATE

"Six Senses Hotels and Resorts, the owner and operator of high end individual and luxury, boutique resorts, and city hotels in Asia through its Soneva and Evason brands; is pleased to announce a joint venture with Deutsche Bank.

Deutsche Bank will take up a new issue of shares in Six Senses Mauritius - the management arm of Six Senses - resulting in a twenty percent shareholding in the company. The joint venture envisages Deutsche Bank co-investing with Six Senses in hotel and resort properties in South and South East Asia. All acquisitions made through this joint venture will be managed by Six Senses and will carry either the Evason or Soneva brand. Furthermore, they will each feature a holistic Spa managed by Six Senses Spas, the newly established division within Six Senses which is headed by Sarah Noble, the Chairwoman of the British Association of Complementary medicine.

The first acquisition by this joint venture has just completed. The former Club Aldiana was purchased for 200 million baht. Plans for a 300 million baht transformation of the property have been finalised. The resort, which is currently leased by the former owners until mid-March, will close and re-open by mid-September as the Evason Hua Hin. The property will include 40 pool villas, 24 junior suites, and several studios and rooms totaling 200 keys.

In addition to the main restaurant there will be an Asian fusion restaurant, a casual beach restaurant, and an open-air sea facing bar. The resort will have conference and banqueting rooms, a kids centre, 8 tennis courts and of course a Six Senses Spa.

Six Senses and Deutsche Bank are currently evaluating two opportunities in Phuket and the Philippines. The main international resort destinations in South East Asia as well as certain cities are areas of interest to the joint venture.

Six Senses established it self at the end of 1995 with the opening of Soneva Fushi Resort and Spa in the Maldives which was voted Best Leisure Resort in the world and Best of the Best by the Readers of Conde' Nast Traveller UK last year. The Ana Mandara in Vietnam, an Evason Hideaway opened in February 1997. It has established it self as the market leader in Vietnam. Six Senses have just soft opened the Gallery Evason on Robertson Quay, Singapore. The Evason Hua Hin will be Six Senses' eighth property when it opens.

With over Euro 967 billion in assets (as of December 31, 2000) and 95,000 employees, Deutsche Bank offers its clients unparalleled financial services throughout the world in over 60 countries. It ranks among the leaders in asset management, capital markets, corporate finance, custody, cash management and private banking. Deutsche Bank is organised in two customer-oriented Groups: "Corporate and Investment Bank" (CIB) and "Private Clients and Asset Management" (PCAM). The keys to the Bank's success remain constant: customer focus, the spirit of innovation, a broad range of product skills combined with technological power and financial strength delivered by highly skilled professionals. "