The Wight Group Selects Fairmont Hotels & Resorts, Inc. to Manage a Luxury Resort Development on the West Coast of North Caicos in the Turks & Caicos Islands / February 2006

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The Wight Group Selects Fairmont Hotels & Resorts, Inc. to Manage a
Luxury Resort Development on the West Coast of North Caicos
in the Turks & Caicos Islands

CHICAGO, Feb. 6, 2006 - The Wight Group announces that it has entered into an agreement with Fairmont Hotels & Resorts, Inc. to manage a master planned mixed-use luxury resort development on the west coast of North Caicos in the Turks & Caicos Islands. Working with their Belonger partners, The Wight Group has targeted 2009 for the resort opening. Fairmont will manage the 150-room resort, a 150-room condo hotel, several Fairmont branded residential developments, a Willow Stream spa and a championship golf course.

The commitment by the Turks & Caicos government to increase tourism in the region is key to the success of this project. Expanded international airport and harbor facilities are making the islands more accessible thereby making luxury development feasible.

"We are very pleased that this prestigious team will be investing in our Islands, and we expect significant economic impact for the region," commented Chief Minister Michael Misick regarding the announcement. "The Office of the Chief Minister and the entire administration worked diligently to bring Belongers, developers and the hotel partners together on North Caicos. As we expand our tourism industry, it is important to have partners who respect our environment, history and the fragile, natural beauty of our home. These companies have a strong, proven record of environmental integrity. The Wight Group's family-centric foundation of building a quality product combined with Fairmont's century-long tradition of excellence and elegance in the hospitality industry will be a wonderful showcase for our Caribbean lifestyle."

George Wight, Jr., lead development partner of The Wight Group added, "We have been seeking a hotel partner for this exceptional beachfront property and are pleased to be partnering with Fairmont. We know our future owners will demand the highest levels of quality, maintenance, and amenities which is why all the planned condos and single family homes will be branded 'Residences by Fairmont'. Owners and guests can be assured that the entire resort will be built and maintained to the highest standards, making this resort an ideal place to own a vacation home or investment. Coupled with the leading edge marketing tools developed by our strategic partnership with Wight Cotton, I believe we are well-positioned for our expansion in this exclusive market."

William R. Fatt, Fairmont's Chief Executive Officer, said, "Turks & Caicos is rapidly becoming a popular travel destination, and we are delighted to be a part of this expansion in the luxury resort market.   The growth of our brand is leading to great partnership opportunities with experienced developers. The Wight Group brings a breadth of expertise in resort and residential development to this partnership and we are excited about additional opportunities being pursued as a result of this new relationship."

About The Wight Group
The Wight Group is a third generation organization of affiliated family- owned businesses based in Schaumburg, Illinois that has provided engineering, construction and development services worldwide for over sixty-five years. The companies are proud to uphold the Wight tradition of quality and service particularly in the area of luxury resort property development. For more information please visit http://www.wightgroup.com

About Wight-Cotton
Wight Cotton is a joint venture between The Wight Group, and Cotton & Company, the country's leading luxury resort and real estate advertising/marketing firm headquartered in Stuart, Florida. This combination of professional disciplines uses leading-edge technologies to provide a complementary suite of services, which streamlines the development process thereby maximizing the return on investment. Wight Cotton clients can be found throughout the continental United States, the Caribbean, Mexico and Costa Rica. For more information please visit http://www.wight-cotton.com

About Fairmont Hotels & Resorts Inc.
FHR is a leading owner/operator of luxury hotels and resorts. FHR's managed portfolio consists of 87 luxury and first-class properties with approximately 34,000 guestrooms in the United States, Canada, Mexico, Bermuda, Barbados, United Kingdom, Monaco, Kenya and the United Arab Emirates as well as two vacation ownership properties managed by Fairmont Heritage Place. FHR owns Fairmont Hotels Inc., North America's largest luxury hotel management company, as measured by rooms under management, with 49 distinctive city center and resort hotels including The Fairmont San Francisco, The Fairmont Banff Springs and The Fairmont Scottsdale Princess. FHR also owns Delta Hotels, Canada's largest first-class hotel management company, which manages and franchises 38 city center and resort properties in Canada. In addition to hotel management, FHR holds real estate interests in 21 properties and an approximate 24% investment interest in Legacy Hotels Real Estate Investment Trust, which owns 24 properties. FHR owns FHP Management Company LLC, a private residence club management company that operates Fairmont Heritage Place, a vacation ownership business. For more information, please visit http://www.fairmont.com

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Contact:

The Wight Group
Web Site: http://www.wightgroup.com

Also See	Darren W. Law Named Managing Director of The Oceanside Holding Company in the Turks and Caicos Islands / October 2005
	Molasses Reef, a Ritz-Carlton Resort, Part of Public-Private Collaboration with the Turks & Caicos Government on the Uninhabited West Caicos Island; The 125-suite Boutique Hotel to be Centerpiece of the West Caicos Resort Community / January 2005

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