ARAMARK to Acquire Harrison Conference Centers and University Hotels.

Business Editors

PHILADELPHIA--(BUSINESS WIRE)--May 28, 2002

ARAMARK (NYSE:RMK), a world leader in managed services, announced today that it has agreed to acquire the Harrison Conference Centers portfolio of conference centers and university hotels from Hilton Hotels Corporation for approximately $55 million in cash.

The transaction includes 14 Harrison Conference Center facilities, including: the Merrill Lynch Conference and Training Center in Princeton, N.J.; the Inn at Harvard Square in Cambridge, Mass.; the Harrison Conference Center at Glen Cove in Glen Cove, N.Y.; and the Harrison Conference Center at Lake Bluff, in Chicago, Ill.

"Harrison is a proven leader with a portfolio of some of the most prestigious properties in the country," said Joseph Neubauer, Chairman and CEO of ARAMARK. "This acquisition creates an ideal combination of their leadership and innovation with our existing management team."

ARAMARK's conference center portfolio currently provides total conference center services -- including conference planning, sales and marketing, hotel accommodations, dining and catering, audio/visual support services, transportation, custodial and housekeeping, grounds and facilities maintenance, clerical support, recreation and security -- at conference centers and training facilities.

ARAMARK operates nearly 60 conference centers and university hotels in North America and Europe and an additional 48 conference centers in Japan, via the company's joint venture there. In the United States, ARAMARK conference centers include the Procter & Gamble Learning Center in Cincinnati, Ohio; the United States Postal Service's W.F. Bolger Center for Leadership Development in Potomac, Md.; and the Steinberg Conference Center at the University of Pennsylvania's Wharton School, in Philadelphia, Pa. Internationally, ARAMARK conference centers include the German Foundation for International Development in Germany and the Canon Seminar House in Japan.

"The acquisition supports our overall strategy of building and expanding relationships with our existing clients," continued Mr. Neubauer. "We are delighted to add conference center services to many existing ARAMARK clients, such as the University of North Carolina, Duke University and Babson College."

Closing of the transaction, which is subject to customary closing conditions, is expected to be completed by the end of the second quarter of this calendar year.

About ARAMARK

ARAMARK is a $9 billion world leader in providing managed services, including food, facility and other support services, uniform and career apparel and childcare and early education. ARAMARK has leadership positions serving the business, education, healthcare, government, sports and recreation sectors. ARAMARK is ranked No. 1 in the outsourcing services category and is among the Top 50 companies overall in FORTUNE Magazine's 2002 "Most Admired Companies in America." Headquartered in Philadelphia, ARAMARK has approximately 200,000 employees serving customers in 17 countries.

Forward-Looking Statements

The Private Securities Litigation Reform Act of 1995 provides a safe harbor from civil litigation for forward-looking statements that reflect our current views as to future events and financial performance with respect to our operations. These statements can be identified by the fact that they do not relate strictly to historical or current facts. They use words such as "aim," "anticipate," "estimate," "expect," "will be," "will continue," "will likely result," "project," "intend," "plan," "believe" and other words and terms of similar meaning in conjunction with a discussion of future operating or financial performance.

Forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors (many of which are beyond our control) that could cause actual results to differ materially from the future results expressed or implied by such forward-looking statements. The forward-looking statements regarding such matters are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances.

Factors that might cause such a difference include: unfavorable economic conditions, including ramifications of the September 11th terrorist attacks and other terrorist attacks, increased operating costs, shortages of qualified personnel and other factors leading to increased labor costs, costly compliance with governmental regulations, currency risks and other risks associated with international markets, risks associated with acquisitions, including our ability to integrate and derive the expected benefits from our acquisition of ServiceMaster Management Services and other acquisitions, competition, decline in attendance at client facilities, unpredictability of sales and expenses due to contract terms, significant leverage, claims relating to the provision of food services, liability associated with non-compliance with governmental regulations, including regulations pertaining to food services, the environment and childcare service, seasonality and adverse publicity concerning incidents at childcare centers.

For further information regarding risks and uncertainties associated with ARAMARK's business, please refer to the "Management's Discussion and Analysis of Results of Operations and Financial Condition" and "Risk Factors" sections of ARAMARK's SEC filings, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q, copies of which may be obtained by contacting ARAMARK's investor relations department at www.aramark.com.

Forward-looking statements speak only as of the date made. We undertake no obligation to update any forward-looking statements to reflect the events or circumstances arising after the date as of which they are made. As a result of these risks and uncertainties, readers are cautioned not to place undue reliance on the forward-looking statements included herein or that may be made elsewhere from time to time by, or on behalf of, us.