Luxury Destination Club to Add 12 Metropolitan Residences to its Portfolio

Denver, January 17, 2008 – Exclusive Resorts, the worlds leading luxury destination club, today announced plans to add 12 San Francisco residences to its billion-dollar real estate portfolio, with an acquisition at Fairmont Heritage Place in the historic Ghirardelli Square waterfront development. As part of Ghirardelli Squares complete renovation, planned for completion this summer, Exclusive Resorts two-bedroom, two-bathroom residences will feature all the comforts of home, plus the spectacular location and luxurious amenities of Fairmont Heritage Place.

"We are proud to be a part of the revitalization of Ghirardelli Square, a San Francisco landmark that represents the very best in location, dining, shopping and spa services – and meets the high standards set by Exclusive Resorts," said Jeff Potter, chief executive officer of Exclusive Resorts. “Our members will have full privileges while in-residence at Fairmont Heritage Place, including valet service, pre-arrival grocery delivery, daily housekeeping and round-the-clock, personalized attention from an onsite concierge.”

This most recent acquisition by Exclusive Resorts is another example of the club's continued leadership in the luxury destination club industry. By making significant investments in residential real estate projects, Exclusive Resorts is becoming a sought-after partner with both luxury resort developers and operators in the world's top vacation destinations. Not only does Exclusive Resorts' presence contribute to the success of the project for the developer and operator, but it also ensures an outstanding and unique experience for the club's members.

Scheduled to open in late 2008, Exclusive Resorts' Ghirardelli Square residences will be designed with impeccable furnishings and luxurious appointments that reflect a classic yet contemporary sense of style. Expansive windows will provide generous views of the Bay or Russian Hill. Ghirardelli Square will also feature a new concept restaurant by award-winning Bay area chef Gary Danko, as well as a wine bar and tasting room and other high-end retail shops.

"The addition of Ghirardelli Square to our portfolio will deliver on our promise to seek out world-class, in-demand destinations while maintaining our industry-leading service to our members," Potter added. "Further, along with the additional new luxury residences that we plan to open in popular destinations such as Chicago and Las Vegas, this acquisition in San Francisco will expand our presence in more of the worlds top cities."

ABOUT EXCLUSIVE RESORTS
Founded in 2002, Exclusive Resorts is the world's leading luxury destination club, with more than 3,000 members and a $1 billion real estate portfolio consisting of more than 350 luxury residences, plus 150 in development, in dozens of vacation destinations. The club has maintained a satisfaction rating of 95 percent among its members after providing more than 40,000 vacations. Twice named "Best of the Best" by Robb Report, Exclusive Resorts combines the spaciousness and elegance of a private residence with the services and amenities of a five-star resort. Exclusive Resorts is the destination club partner of choice for leading companies including American Express, Neiman Marcus, Marquis Jet and Merrill Lynch. For more information, please visit www.exclusiveresorts.com.

ABOUT FAIRMONT HOTELS & RESORTS
A leader in the global hospitality industry, Fairmont Hotels & Resorts is an extraordinary collection of luxury hotels that truly reflect the essence of their destination. Featuring iconic landmarks like The Fairmont San Francisco, The Fairmont Banff Springs, and London's Savoy, Fairmont hotels are more than a place to stay; they are one-of-a-kind properties where sophisticated travelers can discover storied life experiences. Situated in some of the most exclusive and pristine areas in the world, Fairmont locations provide access to activities that are culturally rich and authentically local. Fairmont is owned by Fairmont Raffles Hotels International, a leading global hotel company with over 80 hotels worldwide under the Raffles, Fairmont and Swissotel brands.

The company also owns Fairmont and Raffles branded Residences, Estates and luxury private residence club properties. Fairmont Heritage Place is a luxury private residence club collection from Fairmont Hotels & Resorts offering vacation home ownership in some of the world's most sought after locations including Acapulco Diamante and Franz Klammer Lodge in Telluride, Colorado with properties under development in Dubai, United Arab Emirates, and in Zimbali, South Africa. Future development is being planned at select Fairmont resort locations, as well as potential ventures with developers in other urban and resort destinations. For additional information, please visit: www.fairmontheritageplace.com.