Effective November 1, 1999, Mr. Wolf Hengst will become President and Chief Operations Officer, with responsibility for overseeing Four Seasons international hotel operations. Mr. Hengst is currently Executive Vice President, Operations of Four Seasons.

At the same time, Ms. Kathleen Taylor will become President and Chief Corporate Officer, with responsibility for overseeing the Company�s business functions and affairs worldwide. Ms. Taylor is currently Executive Vice President and Chief Corporate Officer of Four Seasons.

Complementing these two roles, Mr. Roger Garland continues to serve as Vice Chairman of the Company and Mr. Doug Ludwig as Executive Vice President and Chief Financial Officer. 

�John�s retirement marks a natural process of succession and continued promotion of professional management from within the Company, which has been fundamental to our ongoing success,� said Isadore Sharp, Chairman and Chief Executive Officer of Four Seasons. 

�I am very pleased to have the opportunity to lead this new generation of senior management. These are all people who have been with Four Seasons for many years, and have proven their ability to contribute to our future success with the same energy and values that have helped us reach our current position in the luxury hotel industry today.�

Four Seasons Hotels and Resorts is the world�s leading operator of luxury hotels and currently manages 43 properties in 18 countries, primarily under the Four Seasons and Regent brand names. In March 1999, Four Seasons opened a hotel in Las Vegas, Nevada; and other expected openings in 1999 include hotels in Paris, France (the reopening of the George V); Canary Wharf in London, England; and Cairo, Egypt (the company�s first property in the Middle East); and resorts in Punta Mita, Mexico and Scottsdale, Arizona (both resorts will include vacation ownership developments).