Bucuresti Turism SA owns the Bucuresti Hotel Complex, which is comprised of a 450-room four-star hotel, a 174-unit apartment hotel, restaurants, a conference hall, commercial areas and various guest facilities, and several other real estate assets.  Elscint intends to carry out a refurbishment of the Bucuresti Hotel, which is considered a national landmark and located in the very heart of downtown Bucharest.  The hotel will be operated

Bucuresti Hotel  Str Culturii, 4 Baia Mare 4800 Rumanía

The acquisition was completed in conjunction with a reputable, third party partner through the agency of Domino International Hotels S.R.L., a wholly owned Romanian company of which 80-percent is held by BEA Hotels.  Domino International Hotels S.R.L. won a tender from the Romanian State Ownership Fund for the purchase of the hotel.  The total investment by BEA Hotels in this acquisition is approximately US$ 27.5 million.

Elscint President Rachel Lavine commented, �This acquisition is a further step in the implementation of our ongoing plan to expand in the eastern European region.  Under �Park Plaza� management, Elscint intends to convert the Bucuresti into the leading business hotel in Bucharest.�

This release contains certain forward-looking statements which involve known and unknown risks, uncertainties or other factors not under the company�s control which may cause actual results, performance or achievements of the company to be materially different from the results, performance or other expectations implied by these forward-looking statements.