Jing'an Chengjian Signs Swiss^otel to Manage Hotel Development in Foshan

Guangdong Province

. October 14, 2008

FOSHAN, China, September 4, 2006. Swiss^otel Hotels & Resorts signed an agreement today with Foshan Heng'an Real Estate Co., Ltd to manage a 208-room deluxe hotel development in Foshan, Guangdong Province. Scheduled for completion in mid 2008, Swiss^otel Foshan will occupy 13 levels of the 50-storey Foshan International Plaza, a mix development comprising retail shops, offices, apartments and hotel. Expected to be the tallest building in Foshan city when completed, the multi-use complex is ideally located at the junction of Fenjiang West Road and Chengmentou West Road in the heart of the city's business district.

Positioned as a deluxe tier business hotel, Swiss^otel Foshan will have 213 well-appointed rooms and suites, four Food & Beverage outlets, Executive Club Lounge, Spa and Fitness Centre, and conference and meeting facilities. Targeting pre-dominantly at business travellers, the hotel is situated in the heart of the city's business centre near Zoumiao Commercial District and Fenjiang Financial District. Foshan Highway is a short distance away, making the hotel easily accessible from other major cities such as Guangzhou and Shunde.

Swiss^otel Foshan is owned by Foshan Heng'an Real Estate Co., Ltd, a subsidiary of Jing'an Chengjian who is also the owner of Swiss^otel Grand Shanghai slated for opening in 2007. Mr. Meinhard Huck, Managing Director, Swiss^otel Hotels & Resorts commented, "We are very honoured that Jing'an Chengjian has yet again entrusted the management of its new hotel development in Foshan to Swiss^otel. With Swiss^otel Foshan, we now have a greater foothold in China with hotels in three major gateway cities to cater to more business and leisure travellers."

With this latest management agreement, Swiss^otel Hotels & Resorts' portfolio stands at 26 deluxe hotels globally.

Swiss^otel Hotels & Resorts (www.swissotel.com) is a distinctive group of deluxe hotels for today's discerning business and leisure travellers, combining the renowned Swiss touch with a fresh, modern and contemporary design. Each Swiss^otel hotel offers personalised service with charm and efficiency. Located in main gateway destinations and city centres, the hotels have convenient access to business and shopping districts, and local attractions. Swiss^otel hotels and resorts worldwide have won prestigious awards and accolades.

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