Hilton Hotels Corporation (Hilton) announced that it has signed a 10-year lease for office space at Park Place II, located in the Tysons Corner area of McLean in Fairfax County, Virginia. As previously announced, Hilton will relocate its global headquarters from Beverly Hills, CA, to Fairfax County, VA, during the third quarter of 2009.

The relocation is part of Hilton's ongoing business reorganization and follows a thorough review of Hilton's major corporate locations. Potential locations in the greater Washington, DC metropolitan area were evaluated against multiple criteria, including costs and suitability of available commercial space.

Christopher J. Nassetta, President and Chief Executive Officer, said, "Our move to Park Place II will mark an important milestone in our corporate transformation, and we look forward to becoming part of Tysons Corner's vibrant business community."

Hilton's global headquarters will occupy approximately one-third of the 11-story, 323,000-square- foot building. The property, which is located at 7930 Jones Branch Drive, was completed in 2008 and is owned by the B.F. Saul Real Estate Investment Trust. Park Place II is adjacent to the Hilton McLean Tysons Corner, a Hilton-owned and managed property, and is LEED Gold certified, meeting one of the highest environmental standards for design, construction and operation. Additionally, the property features covered parking, excellent access to major roads, a health club and food service area.