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Hotel de Fregate (France) Purchased by Dolce/AEW Partnership
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Provencal Conference and Golf Resort Third Acquisition for Dolce/AEW, L.P.

MONTVALE, NJ (February 11, 1998). -- Hôtel de Frégate has been purchased from Suez Lyonnaise des Eaux by Dolce/AEW, L.P.  The breathtaking resort complex includes a 100-room conference hotel; an 18-hole championship golf course; a  9-hole executive course; and real estate development.

An American-based hospitality investment and operating company, Dolce/AEW L.P. is comprised of Dolce International, the leading global conference center management company, and AEW Partners II, L.P., an investment partnership organized and managed by Boston-based AEW Capital Management. Presently AEW Capital Management manages investments in over $12 billion of real estate on behalf of its institutional clients. Dolce/AEW L.P. is aggressively investing in conference hotels and conference resorts in the United States, Canada and Europe. Hôtel de Frégate, the third acquisition by Dolce/AEW L.P., has been owned by Suez and managed by Dolce International since its inception in 1993.

Said Andy Dolce, President and Chief Executive Officer of Dolce International, “ Frégate represents the first acquisition of Dolce/AEW, L.P. in Europe. We are pursuing other acquisitions in Paris, London, Holland, Italy, Germany and Spain. Our goal in Europe is to develop the conference center concept that is so successful in the United States. Our core business is executive-level conferences in four-star hotel settings with fine dining and an abundance of recreational activities. Frégate is the first property in France to offer this unique conference center concept.”

An expansion is planned with construction to start immediately. Bruno Cazarre, formerly the onsite Suez representative, is now heading up development for Dolce International in Europe. Says Cazarre, “We are adding 33 guest suites, an indoor pool complex, fitness facilities with men’s and women’s locker rooms, and additional meetings and exhibit space. We are also improving the quality of our golf courses with enhancements to the cart paths, fairways, greens and club house. The Frégate golf experience will become one of the finest in Europe.”

Adds Michel Goget, Dolce International Senior Vice President of European Operations, “The aggressive expansion of Dolce International in Europe will provide new and convenient locations for our American-based, Fortune 1000, multinational clients who demand a dedicated conference environment, superior service, and four-star amenities wherever they are meeting in the world.”

Set amidst olive groves, Medieval villages and the vineyards of Provence, Hôtel de Frégate is the only four-star resort in the region. Its golf complex -- featuring the 18-hole championship Frégate course and the 9-hole executive Fregalon course -- offers some of the most stunning scenery in Europe. Ten holes have exquisite views of the Mediterranean Sea. An IACC-approved conference facility, Frégate is professionally appointed with dedicated conference equipment and advanced meeting technology. A full-service Conference Desk offers complete support services.

Currently managing a portfolio of 11 conference hotels, conference resorts and private/corporate centers in the United States, Canada and Europe, Dolce International’s strategic plan calls for an expansion to 30 properties in the next three to five years. For more information, please call Jennifer Huhn, Director of Public Relations, at (201) 505-5909.

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Contact:
Jennifer Huhn
Phone: (201) 505-5909
Fax:  (201) 307-8837
E-mail: jenn8770@aol.com
Website: http://www.dolce.com

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