MANDARIN ORIENTAL ANNOUNCES NEW LUXURY HOTEL AND RESIDENCES IN CHICAGO HONG KONG, June 7, 2005 - Mandarin Oriental Hotel Group has announced that it will manage a new 250-room luxury hotel and 50 branded residences which are planned to open in Chicago in early 2008. The project provides the Group with a unique opportunity to establish its luxury brand in another important American city. Mandarin Oriental, Chicago will occupy 15 floors of a new 90-storey tower which will be an exclusive mixed-use development in Chicago's growing Millennium Park neighborhood. In addition to the hotel and its luxury residences, the new 1.2 million-square-foot development will feature a further 300 deluxe condominiums as well as upscale retail shops. The project is ideally located for Chicago's world-class cultural attractions, shopping, dining and entertainment facilities. It is adjacent to Millennium Park, the city's renowned centre for art, music, architecture and landscape design, featuring the most sophisticated outdoor concert venue of its kind in the United States, designed by Frank Gehry. Located at 215 North Michigan Avenue, the hotel is also a short walk from the Magnificent Mile Shopping District and is exceptionally placed for easy access to McCormick Place, the largest convention facility in America. Chicago's vast Pedway system is accessible directly from the development, which allows convenient covered walkways to the city's financial district. Mandarin Oriental, Chicago will be a showcase of innovative, contemporary design, combining a reflection of the Group's oriental heritage with a strong sense of place. The 200 oversized guestrooms and 50 suites will be among the most spacious accommodations in the city, with views of Lake Michigan to the north and east, Millennium Park to the south, and Chicago's celebrated cityscape to the west. The finest entertainment and technology systems will also be a prominent in-room feature. An array of dining choices will be offered at the hotel's 80-seat signature restaurant, an all-day dining venue, spa caf? stylish bar, lobby lounge and Cake Shop - Chicago's version of the legendary "Mandarin Cake Shop" at the flagship Mandarin Oriental in Hong Kong. The Spa at Mandarin Oriental, Chicago will create an unprecedented relaxation experience within a vibrant urban setting. The 20,000-square-foot facility will feature 14 treatment rooms, with two VIP couples suites, state-of-the-art heat and water treatments, including a Hamam for men and Rasul for women, as well as a spa caf?offering tailor-made, healthy cuisine. A dedicated pilates and yoga studio will complement the fully-equipped fitness facility. Reflecting the Group's Asian spa expertise in design and service, this facility will offer among the most comprehensive range of wellness, beauty and massage treatments in the Chicago area, with holistic signature treatments created exclusively by Mandarin Oriental. The hotel will also offer exceptional amenities to business travelers, including the latest in-room technology as well as a full-service business centre. Ample meeting and function space, with a 10,000-square-foot ballroom, and four additional private meeting rooms equipped with state-of-the-art technology will also be featured. The Residences at Mandarin Oriental, Chicago will be located above the hotel with units ranging from 1,000 to 3,000 square-feet. As with all Residences at Mandarin Oriental, owners will be treated as permanent guests of the hotel and will enjoy exclusive access to the exceptional services and amenities provided on property. "We are delighted to be opening a new hotel in the celebrated city of Chicago. This project represents a wonderful opportunity for Mandarin Oriental to further strengthen our brand in significant business and leisure destinations worldwide," said Edouard Ettedgui, Group Chief Executive of Mandarin Oriental. "We look forward to bringing Mandarin Oriental's renowned levels of hospitality to this vibrant new development and its remarkable location. We certainly support Mayor Daley's mission for the area's success." "We are excited about the addition of Mandarin Oriental to the city of Chicago. The development only serves to further enhance the amenities and visitor attractions in and around Millennium Park," said Mayor Richard M. Daley. The project is being developed by Illinois Center Development, LLC (ICDG), a private investment partnership formed by the development team of Frank Leo and Gerard Kenny of Chicago, Illinois. Mr. Kenny's firm, Kenny Construction Company, will be leading construction of the overall project. The award-winning firm of Solomon Cordwell Buenz (SCB) will be lead architect coordinating with Patrick Danan of ICDG. "Our project will play an important role in the continuing renaissance of the area surrounding Millennium Park. The development promises to be a new city icon and we are very pleased to be working with Mandarin Oriental to create a unique luxury experience in Chicago," said Frank Leo, a principal of Illinois Center Development, LLC. Chicago boasts many tourist attractions, including the finest shopping along Michigan Avenue, fine dining and myriad cultural venues, all within walking distance of the new project. Transportation to and from this important Midwestern U.S. city is among the most accessible in the world; Chicago's O'Hare Airport handles more than 55,000 domestic flights and 7,000 international flights a month - with more passengers than any other international airport. Mandarin Oriental Hotel Group is the award-winning owner and operator of some of the world's most prestigious hotels and resorts, currently operating 21 luxury hotels with a further six under development in Hong Kong and Tokyo (opening 2005), Prague and Riviera Maya, Mexico (2006), Boston (2007) and Chicago (2008). In total, Mandarin Oriental now operates, or has under development, approximately 8,000 rooms in 14 countries with 12 hotels in Asia, ten in The Americas and five in Europe.