Honolulu, Hawaii USA -- August 28, 1997 --A ceremony to lay the "premiere pierre," or cornerstone, for the Outrigger Hotel Tahiti took place at Papeete, Tahiti, on August 5, 1997. In attendance were hotel owner/developer Louis Wane; Bill Henderson, vice president of development for Outrigger Hotels & Resorts; Mike Devich, Outrigger's senior vice president of property services; and officials from France and French Polynesia.

In his introduction for the symbolic cornerstone laying, Wane stated, "This ceremony marks a great event in French Polynesia's life. Besides restoring one of the nicest and most prestigious hotel complexes in Tahiti, this event marks a victory over the past and the beginning of an economic revival of the territory.

We welcome our neighbors from Outrigger, Hawaii's premier hotel chain." Representing the territorial government was French Polynesia's vice president, Mr. Edouard Fritch. He commented, "It is a good omen that the hotel shall be managed by Outrigger, a hotel chain which is so much appreciated by our citizens who travel to Hawaii. We are particularly impressed by the laying of this foundation stone, a symbolic act of confidence in the future of our country."

Speaking on behalf of France, the High Commissioner from Paris, Mr. Michel Jeanjean, observed, "The Outrigger Hotel Tahiti is destined for success for three reasons: location, location, location."

Finally, in presenting a ceremonial paddle to Louis Wane, Outrigger's Bill Henderson said, "Since the first residents of the Hawaiian Islands originated in Tahiti thousands of years ago, it is appropriate that Outrigger now returns from Hawaii to Tahiti to provide our brand of Polynesian hospitality to Tahiti's visitors. This ceremonial steering paddle is symbolic of the need for us all to paddle together to insure the success of this important venture, with Mr. Louis Wane as our steersman."

With construction now underway, the Outrigger Hotel Tahiti is expected to open during the first quarter of 1999 following a $30 million reconstruction of the former Hotel Tahiti. When complete, the new Outrigger Hotel Tahiti will have 163 rooms, including garden and lagoon front bungalows, a new restaurant, swimming pool, reception area and lobby.

Outrigger Hotels & Resorts is Hawaii�s largest hotel company and the 28th largest in the U.S., offering 29 hotels and resort condominiums throughout the Hawaiian Islands and the Pacific, with projects under development in Guam, Palau, Tahiti, Fiji and the Cook Islands. This year marks the company's 50th anniversary of doing business in the Islands. Outrigger's affiliate, Outrigger Lodging Services, manages nearly two dozen hotels and resorts throughout the U.S. mainland.