LATEST MOVE FOR SOL MELIÁ'S VETERAN HOTELIER

Ricardo Castaneda Appointed General Manager Meliá Bali

Leading European hotel chain Sol Meliá, today announced the appointment of Mr. Ricardo Castaneda as the new General Manager for the five stars Meliá Bali in Indonesia. He will continue to retain his portfolio as the Vice-President Operations Sol Meliá Asia Pacific.

Instrumental in Spanish hotel chain Sol Meliá's expansion programme throughout Asia over the last 15 years, veteran hotelier Ricardo Castaneda's latest move in the region is the natural progression of his history with the Group, having been personally responsible for a number of significant milestones in the chain's 15 year history in Asia.

Since his first Asian posting was back in 1986, for the opening Sol Meliá's first property in Asia, Meliá Bali, among Mr. Castaneda's many achievements was the acquisition of the group's second property in Asia, Meliá at Scotts in 1989, which he consequently went on to manage as General Manager. During that time he was also involved in the successful negotiations for the take over of another existing property, which was to become the group's third Asian property, the Meliá Kuala Lumpur.

His key role in the establishment of the chain's first three hotels in Asia, led to his regional appointment as Vice President Sales & Marketing with the responsibility of setting up the group's regional office in Singapore. He moved on to open and manage two more new properties for the Group, Meliá Hua Hin in Thailand and Gran Meliá Jakarta prior to his recent appointment.

Sol Meliá is the leading hotel group in Spain in both the city and resort hotel markets, the leading chain in Latin America and the Caribbean, the second largest hotel group in Europe and the tenth largest worldwide. The company is also the world's largest resort hotel chain. Sol Meliá has a portfolio of more than 350 city and resort hotels in 30 countries under the brand names of Meliá, Sol, TRYP and Paradisus hotels.

Its properties in Asia include Gran Meliá Jakarta, Meliá Bali (incorporating The Garden Villas), Meliá Benoa All-Inclusive Resort (Bali), Sol Lovina (Bali), Meliá Purosani (Yogyakarta), Meliá Panorama (Batam), and Sol Elite Marbella (Anyer) in Indonesia; Meliá Hanoi in Vietnam; Meliá Kuala Lumpur in Malaysia; and Sol Twin Towers (Bangkok) in Thailand. Sol Meliá has signed contracts to take-over and manage a further 80 hotels by the year 2002.