According to Mike Paulin, CEO of Aqua Hotels & Resorts, �As the company approaches its fourth year of doing business, we are removing price as the company�s value proposition and replacing it with branded amenities comprising the seven pillars of the �Aqua Brand�.�

• AquaSPA � Poolside cabana offering massage therapies, body scrubs and facials
• AquaFIT � Fitness center with a variety of exercise equipment
• AquaFRESH � Like new accommodations
• AquaKIT � Microwave, refrigerator, coffee maker, wet bar
• AquaCONNECT � WiFi or Hi-Speed Internet Access
• AquaSTART  � Healthy continental breakfast, daily
• AquaPROMISE � Hotline to Mike Paulin, 24x7

The branded amenities place attention on the �new� Aqua product � newly upgraded condotels featuring contemporary services, like AquaSpa and AquaFit, at a good value.  Aqua targets independent men and women and young families who appreciate the condotel concept.  The seven pillars of the Aqua Brand are Paulin�s next steps in anticipating customers� needs and expectations.  According to Paulin, �Our employees have always done a great job in providing the essentials but now we�re adding the distinct lifestyle services that will differentiate Aqua from other Hawaii

Aqua Marina Hotel 1700 Ala Moana Blvd. Honolulu, Hawaii -

Aqua Hotels & Resorts was at the forefront of the condotel innovation in Waikiki and fortunate to have maintained a successful track record.  �We�re coming out of our shell and making a difference,� Paulin commented.  �The condotel concept makes good business sense because nearly 95% of the converted rooms at each property remain in the Waikiki rental inventory.  The hotel to condo conversion market continues to be hot and we�re excited about several projects on the planning horizon.�

�We want to continue growing our business and our reputation as Hawaii�s condotel leader,� stated Paulin.

About Aqua Hotels & Resorts

Aqua Hotels & Resorts is hotelier Michael Paulin�s latest resort Management Company formed to manage and operate hotels and hotel-condominiums in Hawaii. Paulin�s previous company, Marc Hotels & Resorts, was a success story of its own and was eventually sold to Sunterra in 1997. Paulin returned to Hawaii to form Aqua Hotels & Resorts in 2001 with its first Condotel project, the Aqua Marina. Within three years Aqua has grown to four Condotels, which include the Aqua Bamboo & Spa, Aqua Kuhio Village and Aqua Palms, scheduled to open in the fall/winter of 2004.

Michael Paulin, Owner

Considered the founding father of the Condotel concept in Hawaii, following graduation from University of Southern California, Paulin created his first Condotel Vacation experience for Hawaii in 1964 from his California office selling �Condo/Car Holidays� to the island of Kauai. Together with L.A. entrepreneur, Peter Ueberroth, he purchased a travel agency and began to merchandise villas and apartments as travel packages. This venture eventually lead to the formation of Colony Hotels in 1971, and five years later became the fourth largest condominium/hotel management company in Hawaii.

In 1978 Paulin joined forces with legendary Hawaii hotelier, Andre S. Tatibouet to help create Aston Hotels & Resorts, which quickly became the largest Hotel-Condo management company, and one of the world�s largest operators of accommodations of any type. Paulin left Aston after nine years to create his own management company, Marc Hotels & Resorts.

Over the next ten years, Mike had grown Marc Hotels & Resorts into one of the largest hotel operators in Hawaii, managing 22 properties throughout the Hawaiian Islands. In 1997 Paulin had sold Marc Hotels & Resorts to Sunterra, and eventually returned to Hawaii to form Aqua Hotels & Resorts.

Paulin is internationally recognized for his work. Having been elected as Chairman of the world�s largest public-private tourism organization, the Pacific Asia Travel Association (PATA) and awarded the prestigious PATA Life Membership. Hotel industry colleagues throughout the state honored Paulin as Chairman of the Hawaii Hotel Association in 1996.