The agreement, which is subject to approval by the Park Plaza Kemayan Ltd. shareholders, also calls
for Carlson to acquire several existing management contracts for Park Plaza and Park Inn hotels
that are operating in the region.

The acquisition was announced today by Paul Kirwin, president and managing director of Carlson Hotels Asia Pacific, who stated that the addition of the Park Plaza and Park Inn brands represents an exciting new growth opportunity for the company by significantly expanding its portfolio of hotel brands. Carlson Hotels Asia Pacific currently includes the brands of Regent International Hotels, Radisson Hotels & Resorts and Country Inns & Suites By Carlson. 

�The addition of the Park Plaza and Park Inn brands aligns our portfolio with the global Carlson Hotels Worldwide organization which already includes these brands in other parts of the world including the Americas and Europe, the Middle East and Africa,� Kirwin said. �In addition we are very enthusiastic about the opportunity to grow the Park Plaza and Park Inn brands into new markets in the Asia Pacific region as part of our overall development strategy,� he added. 

There are currently two Park Plaza hotels operating in Melbourne and one in Kuala Lumpur, and three Park Inn hotels in Sydney, Kuala Lumpur and Terengganu, Malaysia. 

�Carlson Hotels Asia Pacific is a growth-oriented company that is aggressively pursuing the expansion of its brands which now includes five different product categories,� Kirwin said. 

With this acquisition, Carlson Hotels Asia Pacific will include 52 hotel locations in 11 countries.  The company is the regional headquarters for Carlson Hotels Worldwide, a U.S. based company which is one of the world�s leading hotel organizations includes 881 locations in 67 countries. 

Park Plaza Hotels are positioned in the mid-scale to upscale segment of the full service hotel category and currently include 34 locations worldwide. These hotels are generally 150 rooms or larger and located in downtown, suburban and airport commercial locations. With restaurants, meeting rooms, catering, suite and recreational facilities, the hotels serve the travel needs of business guests, meeting attendees and weekend leisure guests. 

Park Inn hotels are positioned within the economy to mid-scale segment and currently include 69 locations worldwide.  Park Inn locations include suburban and city center locations and offer varied services for business and leisure travelers depending on the local market positioning. 

Singapore-based Carlson Hotels Asia Pacific is the regional headquarters for Carlson Hotels Worldwide in the Asia-Pacific region and is supported by reservations, sales and development offices in Tokyo, Hong Kong and Sydney, Australia.  Carlson Hotels Worldwide, based in Minneapolis, Minnesota, includes five hotel brands: Regent International Hotels, one of the most respected brands in the luxury segment of the lodging industry; Radisson Hotels & Resorts, one of the world�s leading upscale hotel companies; Park Plaza hotels, positioned in the mid-scale to upscale segment of the full-service hotel category; Country Inns & Suites By Carlson, one of the fastest growing, mid-market lodging chains offering excellent value with upgraded services and amenities; and Park Inn hotels, positioned within the economy to mid-scale segment of the limited service hotel category. 

Carlson Hospitality Worldwide is a global leader in hospitality services, encompassing more than 1,660 hotel, resort, restaurant and cruise ship operations in 82 countries.