Slated to open in November 1999, Four Seasons Hotel Canary Wharf will have 139 rooms/suites, a restaurant and bar, meeting rooms, a business center and a fitness center. It will be an integral part of the mixed-use development, which also includes four residential buildings comprising 322 luxury apartments, a 40,000-square-foot health club and spa, a 20-meter indoor, infinity swimming pool with uninterrupted views of the Thames, as well as restaurants, bars and cafes.

Mr. Liew, Director of Canary Riverside Development Pte. Ltd. and President of Pidemco Land Ltd., commented, ``Four Seasons is at the pinnacle of their business and, as such, is a fitting partner for our prestigious scheme here at Canary Wharf. We are creating a way of life at Canary Riverside which is quite above the norm for the rest of London -- located in a prime riverside setting, with superb residential apartments, state-of-the-art health club and spa facilities, extensive landscaped gardens and sophisticated architecture.

Commenting on the project, Four Seasons Hotels and Resorts Chairman and Chief Executive Officer Isadore Sharp said, ``This new Hotel will be our second property in London and is in keeping with the company's expansion into Europe and new markets worldwide. The new Four Seasons will be situated in one of London's most desirable business and financial centers, where the city's leading firms and a growing number of international companies now have offices.''

Four Seasons Hotels and Resorts currently operates five hotels in Europe. In January 1998, Four Seasons acquired management of The Ritz Hotel in Lisbon. In September 1996, Four Seasons opened a new 204-room hotel in the restored heart of Berlin and transformed a century-old, neo-classic Turkish prison into the 65-room Four Seasons Hotel Istanbul. In 1993, Four Seasons recreated a 15th-century monastery into a 98-room hotel in Milan.

The hotel company opened its first European property in England in 1970 with the 220-room Four Seasons Hotel London (Hamilton Place, Park Lane, W1). Other future developments in Europe include a long-term management contract to manage the George V Hotel in Paris, which will re-open late next year after an extensive renovation and be renamed Four Seasons Hotel George V Paris; Four Seasons Hotel Dublin, a new hotel within the Royal Dublin Society's 42-acre show grounds, slated to open in 2000; and construction begins early next year for Four Seasons Hotel Prague.

Four Seasons Hotels and Resorts is the world's leading operator of luxury hotels and currently manages 42 properties in 18 countries, primarily under the Four Seasons and Regent brand names. In 1997, Four Seasons added a hotel in Atlanta, Georgia to the portfolio, and opened a major resort, together with its first vacation ownership development, in Aviara (Carlsbad), California. The hotel company also opened its second resort in Bali (at Sayan), Indonesia in first quarter 1998. On May 1, 1998, Four Seasons assumed management of the Kuda Huraa Reef Resort in the Republic of the Maldives. Expected openings in early 1999 include a hotel in Las Vegas, Nevada; and a resort in Punta Mita, Mxico. While most hotels bear the respective names of Four Seasons or Regent, some do not, including The Ritz-Carlton in Chicago and The Pierre in New York. Four Seasons Hotels Inc. is traded on the New York Stock Exchange under the ticker symbol ``FS.'' Information on the company can be accessed through Four Seasons web site at www.fourseasons.com.

Canary Riverside Development Pte. Limited is a joint venture property development registered in Singapore and is made up of the following partners: Pidemco Land Limited, with a 50% stake, is the property development and investment arm of the Singapore Technologies Group, a leading technology-based multinational conglomerate, headquartered in Singapore. Pidemco Land has other property interests in the U.K. Hotel Properties Limited (HPL), with a 30% stake, is a hotel, property and leisure company floated on the Singapore Stock exchange in 1982. HPL has hotel interests in Singapore, Malaysia, Bali, the Maldives, Myanmar, Sri Lanka, Australia and Vanuatu (including four existing Four Seasons hotels and resorts). Canary Wharf Limited sold the land to the joint venture and has retained a residual 20% interest. Canary Wharf Limited is the developer of Canary Wharf with 4.5 million square feet of office and retail space (now leased over 99%). An additional 2.2 million square feet of development, predominately pre-leased, is under construction or due to start within the next six months. At present, 25,000 people work at Canary Wharf with a forecast of approximately 43,000 by early 2002.