Raffles Hotels & Resorts Adds Another Luxury Resort to Caribbean Portfolio at Jack Nicklaus Golf Club St. Lucia

Raffles St Lucia will set a new benchmark in luxury and inimitable service

SINGAPORE, March 15, 2007 - Raffles Hotels & Resorts has signed an agreement with Point Hardy Development Company, to manage Raffles St Lucia, West Indies. Raffles St Lucia will feature a spectacular resort as well as Raffles residential ownership opportunities for homesites and resort residences.

Raffles St Lucia brings luxury living to one of the most picturesque islands in the Caribbean. Located on the northern end of St Lucia, the development will spread over 360 acres marked by sweeping ocean views, dramatic cliffs and secluded beaches. Within this magical backdrop are a stunning 200-room resort, 275 residential luxury villas, casitas, condominiums, 75 estate lots, including 35 exclusive Jack Nicklaus Golf Club estate lots.

The resort will offer exquisite dining options, five pools and a 10,000-square foot RafflesAmrita Spa, well known as an oasis of calm and a sanctuary for the senses. The brand name is derived from an ancient Sanskrit legend in which deities searched for Amrita, an elixir that would grant them eternal youth. There is a Raffles Amrita Spa in all the Raffles properties around the world. These include Raffles Amrita Spa at Raffles The Plaza, Raffles Le Montreux Palace and Raffles Resort Canouan Island, The Grenadines, all of which have been rated as the best spas in their respective destinations.

The golf experience at Raffles St. Lucia will be any golfer's dream. A Jack Nicklaus Signature Golf Course will feature as many as seven holes that play to or along the dramatic coastline of St Lucia, with stunning views of the Caribbean from most of the golf course. Complementing the golf course will be a clubhouse and pro shop, as well as tennis courts and three beach clubs to offer other sporting options. The Jack Nicklaus Signature Golf Course will be the centrepiece of the Jack Nicklaus Golf Club St Lucia.

St Lucia will be one of only 25 destinations worldwide to be a part of the Jack Nicklaus Golf Club program, which allows exclusive access and reciprocity for a limited number of designated members at each of these Clubs. Founder Members of the Jack Nicklaus Golf Club St Lucia will have access to this worldwide program, as well as ownership of luxury golf villas at the resort and access to an exclusive clubhouse.

"I am delighted that Raffles St Lucia has brought together two legendary names - Raffles Hotels & Resorts and Jack Nicklaus," said Dennis Nardoni, CEO of Point Hardy Development Company. "Branding this resort with world-class partners is an indication of the confidence we have in the prospects for this resort and St Lucia. We look forward to the renowned Raffles service and experience introduced for the first time in Saint Lucia."

"We are proud that Raffles has been appointed to operate this spectacular development," said Diana Ee Tan, Managing Director of Raffles Hotels & Resort. "St Lucia is one of the most desired destinations in the Caribbean, and its tourism sector is growing at an exciting pace. Raffles St Lucia, like the other Raffles properties across the globe, will certainly, in time, become an iconic landmark in its destination, well loved by both international and local residents.

"Since 1995, Mr Nardoni has developed several successful real estate projects in northern St Lucia, including the expansion of the St Lucia Golf Resort and Country Club to a championship 18-hole course, featuring a Jack Nicklaus Academy. Known for innovative thinking, Mr Nardoni and his partner, Mike Hughes, are the primary force behind the conception of this fabulous and exciting community.

Nardoni and Nicklaus have selected industry-leader IMI to lead the project's sales and marketing efforts. Bringing 17 years and $5 billion of luxury real estate sales experience to this heralded team, IMI has promoted and sold some of the most distinguished communities throughout North America and the Caribbean.

St Lucia, part of the Lesser Antilles, is an island nation in the eastern Caribbean Sea on the boundary with the Atlantic Ocean. It is one of the most popular vacation and cruise destinations in the Caribbean, and tourism continues to be the principal engine of its economic growth.

Arriving at Raffles St. Lucia will be a breeze, with more than a dozen airlines from major cities in the United States, Canada and United Kingdom servicing its Hewanorra International Airport and George Charles Airport, just minutes from Raffles St Lucia.

ABOUT RAFFLES HOTELS & RESORTS

Raffles is a collection of luxury hotels around the globe that distinguishes itself through the highest standards of products and services. Each hotel is a landmark in its respective city, positioned at the top of its local market and rated among the very best in the world.

Raffles' relentless pursuit of service excellence has earned for its hotels and resorts a legion of international accolades, including Conde Nast World's Best Places to Stay and Travel & Leisure World's Best Awards. Its flagship, Raffles Hotel Singapore, was named Best Luxury Hotel 2006 by Travel Trade Gazette Asia. Raffles Hotels & Resorts was ranked second among the world's top hotel brands in the 2006 Conde Nast Traveler Business Travel Awards.

The award-winning collection of legendary hotels includes Raffles Hotel and Raffles The Plaza in Singapore, Raffles Grand Hotel d'Angkor, Siem Reap, Cambodia, Raffles Hotel Le Royal, Phnom Penh, Cambodia, Raffles Beijing Hotel, People's Republic of China, Raffles L'Ermitage Beverly Hills in the U.S., Raffles Resort Canouan Island, The Grenadines, Raffles Hotel Vier Jahreszeiten, Hamburg, Germany and Raffles Le Montreux Palace, Montreux, Switzerland. Raffles Dubai, United Arab Emirates, will open in the third quarter of 2007.

Future additions to the Raffles portfolio include a hotel on the Cotai Strip in Macau, Raffles Da Nang in Vietnam, Raffles Konottaa in the Maldives and Raffles Phang Nga Resort and Residences in Phuket, comprising 150 rooms and 25 luxury residential villas overlooking the Andaman Sea.
 

ABOUT FAIRMONT RAFFLES HOTELS INTERNATIONAL, INC.

Fairmont Raffles Hotels International, Inc. is a global hotel company headquartered in Toronto, Canada. The company owns and manages 120 hotels in 25 countries under four brands, Fairmont Hotels & Resorts, Raffles Hotels & Resorts, Swissotel Hotels & Resorts and Delta Hotels as well as vacation ownership properties managed by Fairmont Heritage Place.