Doubletree by Hilton Expands European Portfolio to Romania

Doubletree by Hilton, Oradea is due to open in September 2010

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. November 11, 2009

NOVEMBER 10, 2009 - Hilton Worldwide has today announced the signing of a management agreement with Calipso S.A, a listed company owned by the investment company SIF BANAT CRISANA, to open a Doubletree by Hilton hotel in Oradea, Romania. Scheduled to open by September 2010, the Doubletree by Hilton, Oradea will be Hilton Worldwide's third hotel in Romania and the country's first Doubletree by Hilton, marking further growth of this upscale, full service brand across Europe.

Welcoming today's announcement, Patrick Fitzgibbon, Senior Vice President Development for Hilton Worldwide Europe and Africa, said: 'We are continuing to focus development resources in Romania and are delighted to have secured our first Doubletree by Hilton in Romania. Hilton Worldwide's growing presence in this market has already seen the opening of the Hilton Sibiu in 2009, and with further projects in discussion we are excited about expanding our brands in Romania and throughout Eastern Europe.'

The signing of the Doubletree by Hilton Oradea follows the opening of the Hilton Sibiu in July 2009 and Hilton's entry into Romania in 1997 with the renowned Athenee Palace Hilton, Bucharest. Doubletree by Hilton is an upscale, full service hotel brand that has seen remarkable growth since its European introduction in the Spring of 2008. Nine hotels are now open across the UK, Italy and Slovakia.

Rob Palleschi, global head for Doubletree Hotels, commented: 'Along with several hotel development projects now underway in Russia and our great hotel now open in Kosice, Slovakia, the Doubletree by Hilton, Oradea represents another important new chapter for our brand's growing collection in Eastern Europe. This outstanding hotel project continues to reinforce the potential for owners of current and new-build hotel projects to become affiliated with Hilton Worldwide through the Doubletree by Hilton brand.'

The Doubletree by Hilton, Oradea is expected to offer 147 bedrooms, meeting facilities for up to 350 people, a restaurant, bar, thermal spa and swimming pool. The newly built hotel will be located approximately 1 km from the city centre in a green recreational area, conveniently located for Oradea's many sites of historical and cultural interest, commercial centre and the international airport. Oradea will also benefit from new highway infrastructure connecting it with Romania's central cities, and neighbouring Hungary.

SIF BANAT CRISANA (SIF1) is one of the 5 components making the BET-FI, one of the most important indexes on the Bucharest Stock Exchange.

Dr. Ioan Cuzman, Chairman and CEO of SIF BANAT CRISANA said: 'We have come a long way to this moment, when we can proudly announce that we are signing a Doubletree by Hilton Hotel. The Doubletree by Hilton Oradea will be the flagship of Calipso S.A's hotel portfolio. We believe that this new hotel is an important milestone in the life of Oradea, a city with great potential in a strategic location in Romania. Furthermore we also thank Fivestar Hospitality for supporting us in the process of development and affiliation.'