In joining this elite group of hotels and resorts that make up The Luxury Collection, these two prestigious hotels, both located on the island of Lana'i, share company with some of the world's finest lodgings, including the St. Regis in New York and Aspen, Colo.; The Phoenician in Scottsdale, Ariz.; the Hotel Danieli in Venice; Prince De Galles in Paris; and Hotel Imperial in Vienna.

The addition of these two Lanai resorts brings The Luxury Collection to a total of 57 resorts in 20 countries. David H. Murdock, chairman and chief executive officer of Castle Cooke, which will continue to own and operate the Lana'i hotels through its Lana'i Company Inc. subsidiary, said,

"The decision to join The Luxury Collection was driven by a desire to work with a hotelier that would bring us a global distribution system and network of sales associates." This agreement provides the Lana'i resorts access to Starwood's regional and global sales, marketing and reservations services.

Equally important, Murdock noted: "We were also looking for an organization that knows and shares a truly upscale clientele. Customers who stay at The Luxury Collection, like those who come to Lana'i, are very well-traveled and extremely discerning."

"The Lodge at Koele and the Manele Bay Hotel represent two of the finest and most award-winning resorts in the world," said Juergen Bartels, chief executive officer of Starwood's Hotel Group. "Both properties are extremely well-established and have achieved an excellent reputation and level of success. We look forward to working with the Lana'i team in furthering that success."

The addition of the Lodge at Koele and the Manele Bay Hotel, coupled with Starwood's recent announcement of the purchase of the Westin Maui, demonstrates Starwood's belief in, and commitment to Hawaii as a world-class destination.

Bartels noted: "All of our Hawaii resorts have enjoyed a long history of success which is a tradition that we fully expect to continue. The Lodge at Koele and the Manele Bay Hotel add another unique destination to The Luxury Collection, but more importantly, provide our loyal customers with an opportunity to experience two of the finest resorts in the world."

The island of Lana'i is the sixth-largest of the major Hawaiian islands and offers expansive open spaces and unspoiled landscape. Once known as "The Pineapple Island" for its fields of pineapple, Lana'i is now a place of relaxation -- home to the two award-winning resorts, two championship golf courses, a community of luxury homes, charming shops and a wide variety of activities.

A place of deep cultural significance, Lana'i boasts many historical sights, old fishing villages and the historical plantation town of Lana'i City -- home to a population of 2,800 residents. Secluded among decades-old towering Cook Island pines at an elevation of 1,600 feet, the Lodge at Koele has the charm and classic elegance of a traditional English country manor. The 102-room structure is one of Hawaii's rare inland hotels and has consistently distinguished itself among the world's finest resorts since its opening in April 1990.

Fitting a unique upcountry setting, the decor is characterized by beamed ceilings and natural stone fireplaces designed to capture the warmth of the Lodge. Luxurious decor, impeccable service and world-class cuisine have garnered the Lodge at Koele top awards such as "Best Tropical Resort" and "Best Pacific Rim Resort" by Conde Nast Traveler's Readers' Choice Awards, and "Best Resort in the United States" by Zagat Survey. The hotel's golf course, the Experience at Koele, is an 18-hole championship course designed by professional golfer Greg Norman and architect Ted Robinson. Set in a dramatic mountain setting against a backdrop of forested green hills and steep valley gorges, the Experience has been ranked as the best golf resort by Conde Nast Traveler's annual readers' poll for two consecutive years.

The 250-room Manele Bay Hotel, which opened its doors in May 1991, sits high above the island's most beautiful white sand beach at Hulopo'e Bay -- a marine conservation area prized by divers and snorkelers and abundant with tropical reef fish.
 
Surrounded by lavish gardens, the hotel is situated in a stunning oceanfront setting and possesses a romantic ambience which has earned the resort recognition as the top hotel in Hawaii and one of the top 25 hotels in the world by Gourmet magazine's

"Rooms at the Top" readers' poll. Adjacent to the hotel, the Challenge at Manele boasts 18 holes of golf in a magnificent setting.
 
The par-72 course is built on several hundred acres of natural lava outcroppings, among native ilima and wild kiawe trees. Every hole guarantees golfers a stunning view of the Pacific Ocean where dolphins and whales are often sighted.
 
Starwood Hotels & Resorts Worldwide Inc., through its Sheraton, Westin, The Luxury Collection, Four Points and Caesars subsidiaries, with more than 650 hotels in 70 countries with 125,000 employees, is one of the leading hotel and gaming operating companies in the world. Starwood Hotels & Resorts is the largest real estate investment trust in the United States. Shares of Starwood Hotels & Resorts Worldwide, Inc. are paired and traded together with shares of Starwood Hotels & Resorts (NYSE:HOT). www.luxurycollection.com.
 
Castle & Cooke is a developer of residential real estate in Hawaii; Bakersfield, Calif.; Sierra Vista, Ariz.; and Orlando, Fla. The company owns and operates two of the world's highest rated resorts on the island of Lana'i in Hawaii. Castle & Cooke is also involved in commercial development in Hawaii, California, Arizona, North Carolina and Georgia.