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Starwood Files Preliminary Proxy Statement Regarding Westin Hotels Limited Partnership
Starwood Hotels & Resorts Worldwide, Inc announced yesterday that it has filed a preliminary proxy statement with the Securities and Exchange Commission relating to Starwood`s solicitation of consents from the holders of limited partnership units (the Units) of Westin Hotels Limited Partnership (WHLP). The consent solicitation would be conducted simultaneously with a contemplated tender offer for all outstanding Units under which Unitholders would receive $600 per Unit in cash. WHLP is the owner of The Westin Michigan Avenue, Chicago hotel in downtown Chicago, Illinois.

The tender offer would be conditioned on, among other things, (1) the valid and not withdrawn tender of at least a majority of the issued and outstanding Units, and (2) the consent by Limited Partners who collectively hold more than 50% of the Units to each of the proposals for which their consent is being solicited so that the proposed amendments to WHLP`s agreement of limited partnership, described on the preliminary proxy statement, have been implemented and are in full force and effect. Vicky Karantzavelou - Friday, August 29, 2003