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 Loews Hotels Signs Letter of Intent to Manage
the House of Blues Hotel in Chicago
NEW YORK, Feb. 26, 1998 - As part of the re-development of Chicago's landmark Marina City multi-use
complex, Loews Hotels and House of Blues Hospitality, Inc. have signed a Letter of Intent to convert the former
office tower into the first-ever House of Blues Hotel.

With work already underway and moving towards an opening in September 1998, the House of Blues Hotel, a
Loews Hotel, will feature a total of 372 rooms, including 30 suites.

Built in the early 1960's by legendary architect Bertram Goldberg, Marina City consists of 900 condominiums, 900
parking spaces, the only working marina on the Chicago River, and the largest House of Blues Restaurant.
Other features of the House of Blues, a Loews Hotel will include an AMF 26-lane bowling center, full service
health club, and four meeting rooms. And, for larger meetings and social functions, the hotel will have access to
the House of Blues restaurant, which offers 55,000 square feet of space, a performance hall, and several private
rooms. Dining and entertainment options will include a 20,000-square-foot Smith Wollensky restaurant (opening
April 1998); and four additional high energy restaurant/entertainment venues all located within the Marina City

The House of Blues, a Loews Hotel, marks the sixth new development project for the New York City-based chain.
Marking a return to the Windy City after more than 20 years, Loews Hotels had owned and operated two
Ambassador Hotels in Chicago from 1965-1972.

"This hotel is truly an exciting addition to the chain's growing portfolio for a variety of reasons," notes Jonathan
Tisch, President and CEO of Loews Hotels. "Not only does it put us in a major market that we've been wanting to
be in, but it is a unique project that combines the elements of entertainment and hospitality that make it a perfect
complement to both our existing properties, as well as those under development."

"We are thrilled to welcome Loews Hotels as the operator of the first House of Blues Hotel," said Jeff Lapin,
President of House of Blues Hospitality, Inc., and Executive Vice President of House of Blues Entertainment, Inc.
"The unique characteristics that make each Loews property distinctive from each other, and the chain's
understanding of combining entertainment and hospitality, make them an ideal partner."

Under the direction of renowned designer Cheryl Rowley, the hotel will feature a blend of Gothic, Moroccan and
East Indian styles to create an artistic, unconventional background. The genesis of the design comes directly
from the club environment, as well as from the vast and diverse architectural and artifact collection assembled by
the House of Blues and its founder, Isaac Tigrett.

Like the club, the House of Blues, a Loews Hotel, will display original artwork within each guest room and suite,
with colors and patterns that relate directly to the original artwork featured throughout the hotel. The public areas
will showcase collected architectural artifacts, including Ancient blue glass panels from an East Indian temple, to
create a powerful statement and provide a connection to another culture.

Loews Hotels will manage the House of Blues, a Loews Hotel, for its owners, a partnership between House of
Blues Hospitality, Inc., a subsidiary of Nomura Asset Capital Corporation, and Mark IV Realty.

Loews Hotels currently owns and/or operates 14 hotels and resorts in the U.S., Canada and the Principality of
Monaco. In the midst of the largest expansion campaign in its history, the chain has a total of six hotels under
development. Along with the House of Blues Hotel, these include, the 800-room Loews Miami Beach Hotel
(October 1998); the conversion of the landmark PSFS building in Philadelphia into the 585-room Loews
Philadelphia Hotel (Spring 1999); and three hotels at Universal Florida in Orlando. These include the 750-room
Portofino Bay Hotel, a Loews Hotel (Spring 1999); a 650-room Hard Rock Hotel (Fall 2000); and a third 1,000-room hotel opening in 2001.

Debra Kelman of Loews Hotels, 212-521-2833

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