The Ritz-Carlton Hotel Company, will open a fourth luxury hotel in China, in fall of 2006, in the Beijing`s Financial Street area, the heart of the capital city`s emerging financial district. The Ritz-Carlton, Beijing, Finance Street will be located at the intersection of Taipingqiao Street and Jinchengfangdong. The 256-room property will be a showplace of glass and chrome contemporary design in the western portion of the city, home to many domestic and multi-national banks, insurance companies and other financial related businesses, as well as major tourist attractions including the Summer Palace.

We are very pleased to join with owners Financial Street Holding Co., Ltd. in the development of The Ritz-Carlton, Beijing, Financial Street, said Simon F. Cooper, president and chief operating officer. The Dongcheng District of the city will be a second very strategic location for Ritz-Carlton in Beijing. The proximity of so many world class companies and financial institutions will make the hotel both a convenient and prestigious address for corporate travelers.

The opening of The Ritz-Carlton, Beijing; a 320-room hotel along Changhan Avenue is expected in late 2006. The two Beijing locations will join The Portman Ritz-Carlton, Shanghai and The Ritz-Carlton, Hong Kong in the China portfolio of the award-winning hotel company based in Chevy Chase, Maryland (USA).

While the interior design elements are still being finalized, The Ritz-Carlton, Beijing Financial Street is expected to reflect the building`s contemporary exterior with stylish, modern accents throughout the public spaces and guestrooms.

Among the features of the hotel will be three restaurants, including one offering Chinese food and a specialty dining outlet.

The Lobby Lounge will serve afternoon tea and evening cocktails. Seven private dining rooms will be available for special occasions.

Guestrooms and suites at The Ritz-Carlton, Beijing Financial Street will feature the finest quality furnishings and fabrics in spacious surroundings. Guests of The Ritz-Carlton Club, the signature private section of the hotel accessible only by key access, will enjoy complimentary food and beverage presentations throughout the day, as well as the services of a dedicated, multi-lingual concierge staff.

Meeting space will be intimate and luxuriously appointed. A total of 865-square meters of space, including a 506-square
meters ballroom, divisible by three for flexibility, will be available. Other additional features include a 1,500-square meter health club and spa.

The Ritz-Carlton Hotel Company, L.L.C. currently manages 58 award-winning hotels in Asia, Africa, North America, South America, Europe, the Middle East, the Caribbean and Mexico.