St. Regis to Operate Two Kuala Lumpur Properties for ONE IFC Sdn Bhd

. October 14, 2008

SINGAPORE, June 12, 2008. Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced that its St. Regis brand will debut in Malaysia with the signing of The St. Regis Kuala Lumpur. Owned by ONE IFC Sdn Bhd, the newly constructed property will include 200 guest rooms and 200 whole-ownership St. Regis branded Residences, as well as a luxury Rem`ede spa, gourmet dining and spacious meeting facilities. Offering an unrivaled dimension of luxury, sophistication and bespoke service, The St. Regis Kuala Lumpur will occupy one of the city's most desirable addresses in the prestigious Kuala Lumpur Sentral Precinct (KL Sentral).

"We are thrilled with the landmark entry of the St. Regis brand into Malaysia. The sustained demand for luxury accommodations, the legendary bespoke service of the St. Regis brand, and the unrivaled location of this hotel in the KL Sentral area will make St. Regis Kuala Lumpur an extremely attractive choice for travelers to this dynamic capital city," said Mr. Miguel Ko, President for Starwood Hotels & Resorts, Asia Pacific. "The growth of international arrivals has remained strong as a result of efforts by the Tourism Authority of Malaysia to promote Malaysia and Kuala Lumpur as a destination for business, leisure and meetings."

One of the world's most intriguing destinations, Kuala Lumpur is a bustling metropolis with everything from gleaming skyscrapers and world-class museums to traditional night markets. This richly textured cosmopolitan setting is perfect for the St. Regis guests. From Kuala Lumpur to Cairo, Beijing to Buenos Aires, Singapore to Shanghai, St. Regis is committed to designing custom-tailored guest experiences in the best addresses around the world.

The St. Regis Kuala Lumpur and The Residences at The St. Regis Kuala Lumpur will be part of a premier mixed-used development called ONE IFC.

The St. Regis Kuala Lumpur is scheduled to open in 2014, and will offer a prime location in KL Sentral, directly opposite the National Museum and Lake Gardens. Spanning 72 acres, KL Sentral is the largest commercial development in Kuala Lumpur today and is regarded by many as the city's new Central Business District. Guests will appreciate the hotel's close proximity to the KL Sentral railway hub and major commercial areas including KLCC and Bukit Bintang. The capital and largest city in Malaysia, Kuala Lumpur is one of the best examples of an Asian city that has managed to preserve the best of its cultural heritage while emerging as one of Asia's fastest growing centers for trade, commerce, finance, and information technology.

"We are excited to embark on this collaboration with Starwood in bringing a luxurious brand like St Regis to Kuala Lumpur. We have engaged an exciting team of internationally reputed experts, whose modern outlook in today's fast-changing environments and technologies share our commitment in turning this iconic project into a reality. Our commitment to this development represents our dedication, belief and confidence in the future of Kuala Lumpur. This signing ceremony marks another important chapter in the KL Sentral growth prospect and more importantly, a step forward in KL's transformation into a global city, one that will shape and enhance as well as contribute to the overall growth and success of the country" said Carmen Chua, Chief Executive Officer of ONE IFC Sdn Bhd.

The St. Regis Kuala Lumpur will feature the famed hallmarks of St. Regis hotels including luxury accommodations, bespoke guest experiences and the iconic St. Regis Butler Service. Trained in the English tradition, St. Regis butlers provide ever-present, yet unobtrusive service while anticipating guest needs and customizing each guest's stay according to his or her specific tastes and preferences.

The New York-based architecture firm Skidmore, Owings & Merrill LLP (SOM) has been appointed as the main architect for the ONE IFC development. Founded in 1936, SOM is one of the world's leading architecture, urban design, engineering, and interior architecture firms with a portfolio that features some of the most important architectural accomplishments of the 20th century.

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