Kuala Lumpur Crown Pricess Undergoing Redesign and Renovation

To be Re-branded as Doubletree by Hilton Kuala Lumpur City Centre

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. March 17, 2009

KUALA LUMPUR, Malaysia, 17 March 2009 - Hilton Hotels Corporation has announced that it has entered into a management agreement with The Intermark Sdn Bhd, signifying the debut of the award-winning, upscale hotel brand, Doubletree by Hilton, in Malaysia. The Crown Princess Hotel in the Malaysian capital of Kuala Lumpur will undergo a multi-million dollar redesign and renovation during the next several months to become re-branded as the Doubletree by HiltonTM Kuala Lumpur City Centre. Scheduled to open to the public in Q2 2010, the 540-guest room hotel will offer business, leisure and MICE travellers the chance to experience the Doubletree approach to professional, relaxed and refreshing hospitality in Kuala Lumpur's city centre.

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Martin Rinck, president Asia Pacific - Hilton Hotels Corporation, commented, "We are delighted to announce the first development of a Doubletree by Hilton hotel in Malaysia. The contemporary style, quality and versatility of the Doubletree by Hilton brand are proving to be popular features among developers in Malaysia. This latest addition will enhance our portfolio of four Hilton hotels in Malaysia while symbolising our commitment to further expanding our presence across the Hilton Family of Hotels in Asia".

The hotel will form part of a world class mixed use property called The Intermark, which was acquired by MGPA's Asia Fund II. In addition to Doubletree by Hilton Kuala Lumpur City Centre, The Intermark comprises a retail podium called Intermark Mall, a full refurbished grade A 62-storey office tower called Vista Tower, and a new sustainable design office building to be called Integra Tower. The entire development is scheduled to be completed by the end of 2012.

Mr. Moonduck Kim, managing director, MGPA Asia Developments, commented, "MGPA is an active real estate investor in Asia. We are confident that the Doubletree by Hilton Kuala Lumpur City Centre will become the preferred choice for discerning travellers and will contribute to our positioning of The Intermark as a world class integrated development in the heart of Kuala Lumpur".

Crown Princess Kuala Lumpur closed its doors on 4 January 2009 after 18 years in operation. Federal Hotels International Operated the Crown Princess Kuala Lumpur since 1991 as a 5-star business class hotel.

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Doubletree by Hilton Kuala Lumpur City Centre will be situated at the corner where Jalan Tun Razak meets Jalan Ampang, near the landmark Petronas Twin Towers, embassies and the Kuala Lumpur Convention Centre. With convenient access to other parts of the city, the hotel will be within easy reach of the Central Business District, popular tourist spots and shopping malls. Ampang Park Light Rapid Transit (LRT) station is a two-minute walk from the hotel, providing guests with convenient connection to Kuala Lumpur Sentral, the city's main train station to the Kuala Lumpur International Airport.

Doubletree by Hilton Kuala Lumpur City Centre will offer meeting facilities of close to 20,000 square feet, including a grand ballroom designed to host events for over 600 people. The hotel will provide four restaurants and bars, including an all day dining restaurant, an alfresco-style specialty restaurant, lobby lounge and a new concept deli & wine bar. A full service spa and health club with swimming pool will provide guests with a wide range of recreational facilities, to relax and unwind after a day's work or sightseeing.