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Outrigger Palasia Hotel Palau "Topped Off"
June 1998 Opening Expected

Koror, Palau - November 3, 1997 --  A "topping off" ceremony to commemorate the structural completion of the Outrigger Palasia Hotel Palau was held on Sunday, October 5,1997.

Representatives of the hotel's owning company, Palasia Resorts Inc., celebrated the occasion with a traditional Chinese ceremony. Participating were chairman David S. Chen, vice chairman Alan R. Seid, and president Liang-Chen Huang. Also in attendance were Glenn Seid, vice president of Micronesia Investment & Development Corporation, and Chii-Cheng Lin, contractor and president of Feng Shui Construction Co.

Following the ceremony, a presentation of two commemorative canoe paddles was made to David Chen and Alan Seid on behalf ot Outrigger Hotels & Resorts by Mike Devich, Outrigger's senior vice president of property services.

During the presentation, Devich acknowledged Outrigger's commitment to the project and thanked Chen for the opportunity Palasia Resorts Inc. has given Outrigger Hotels & Resorts to showcase Palauan hospitality to visitors and guests of the Outrigger Palasia Hotel Palau.

The current schedule calls for the Outrigger Palasia Hotel Palau to welcome its first guests in June 1998. When finished, the 165-room Outrigger Palasia Hotel Palau will be the largest hotel in Palau. Hotel amenities will include a swimming pool, several restaurants, banquet and meeting facilities, a business center, activities desk, a fitness center and a wide selection of retail shops.

The Republic of Palau is an island nation located 800 miles southwest of Guam and 600 miles east of the Philippines. Most of its nearly 15,000 residents live on the main island of Koror, which is the capital of the Republic and its center of commerce. The nation attracted just under 70,000 visitors in 1996, the majority of which came from Japan and Taiwan. Many visitors come to Palau to sample the world's finest scuba diving and view the natural beauty of its famous Rock Islands.

Palasia Resorts Inc., developer and owning entity for the Outrigger Palasia Hotel Palau, is a joint venture made up of Micronesia Investment & Development Corporation of the Republic of Palau and Asia Pacific Holdings Corporation of Taiwan, one of seven investment holding companies under the Business Management Committee of the ruling Kuomintang party of the Republic of China.

Outrigger Hotels & Resorts, Hawaii's largest hotel company and the 28th largest in the U.S., is providing technical support during the construction phase of the Outrigger Palasia Hotel Palau and will manage the hotel upon opening.

Outrigger Hotels & Resorts currently operates 29 hotels and resort condominiums throughout Hawaii and Micronesia, with projects underway in Guam, Tahiti, Bora Bora and Fiji. For reservations or information on Outrigger Hotels & Resorts, call 1-800-688-7444 within the U.S. or Canada. Outrigger's toll-free number is also
available internationally via AT&T's Direct 80O© Service. Elsewhere call 303-369-7777. Internet users can access information on Outrigger via the World Wide Web at Outrigger's e-mail address is reservations@outrigger. com.

Sandi Yara, Public Relations Manager
Phone: 808-921-6803
Nancy Daniels, Public Relations Administrator
Phone: 808-921-6839

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