Accor Recognized as One of the 20 Best Global Companies by Global Finance.

PARIS and DALLAS--(BUSINESS WIRE)--Oct. 7, 1999--

World's Third-largest Lodging Company Distinguished for Its Acquisition and Restructuring Savvy, Global Reach of 140 Countries

Accor S.A., the third-largest hospitality company in the world, was honored by Global Finance at a September 28 awards program as one of the 20 Best Global Companies in the world.

Georges Le Mener, president and CEO of Accor Economy Lodging, the U.S. economy lodging division of Accor S.A., accepted the award on behalf on Jean-Marc Espalioux, chairman and CEO of Paris-based Accor.

Held in Washington, D.C., the awards program was hosted for the second consecutive year by Global Finance to recognize those companies in 20 industrial sectors that permeate traditional market boundaries, and have expanded through international acquisitions and joint ventures, or have opened new operations in recessionary economies. To select the companies to be awarded, the publication established minimum criteria regarding global sales; the percentage of total sales earned in foreign markets; total global employees and the percentage of employees in foreign markets; total revenue and the percentage generated offshore; the number of countries in which the company's products are distributed; and, the number of countries in which the company maintains plants and offices. Once the publication had narrowed its field of contenders, subjective criteria were applied to determine the best global companies.

According to Kathryn Hayes, editor of Global Finance, "The Global Finance 20 were chosen based on how well each company is managed, its impact on its competitors, its return on invested capital as well as the extent of its global reach. Companies were also rewarded for showing initiative in abandoning organizational strategies based on economic regions and for having the mettle to restructure along global product lines." She added that the flexibility of a company's corporate culture was considered, as well as its access to capital markets, the value it provides its shareholders, and the standard of its international workforce and products.

Recognized among a prestigious group of global leaders including The Coca-Cola Company, McDonald's, Microsoft and Nokia, to name a few, Accor was named the best global hotel/tourism company. With global sales exceeding $6.5 billion annually, Accor realizes approximately 63% of its sales from foreign markets and, of its 140,000 global employees, 82% are located outside of the company's home country.

Within its industry, Accor is the third-largest hospitality company in the world with 3,084 lodging properties representing 340,000 rooms and spanning five continents. Its hospitality portfolio includes proprietary brands representing all segments of the hotel industry, from luxury to economy: Hotel Sofitel, Novotel, Red Roof Inns, Motel 6, Studio 6, Mercure, Ibis, Etap Hotel, and Formule 1 cater to both business and leisure travelers. In addition to its lodging brands, Accor owns 50% or more interest in several other companies and brands including Carlson Wagonlit Travel, which gives Accor the most global reach; Europcar, Europe's leading car rental company; Accor Corporate Services; and other travel and tourism service companies including Accor Casinos, Compagnie des Wagon-lits, Lenotre, Courtepaille and Accor Tour.

"On behalf of Jean-Marc Espalioux and Accor's management board, as well as Accor's founders, Gerard Pelisson and Paul DuBrule, we are very honored to have been selected as one of the top 20 global companies," said Mr. Le Mener. "The lodging industry is highly competitive and virtually every major company is trying, or has tried, to achieve a truly global presence. We have succeeded in large part because of the vision of our founders, Mssrs. Pelisson and DuBrule, and their opportunistic approach to acquiring companies that would broaden our global reach, as well as because of the management savvy of our chairman, Mssr. Espalioux, who has focused the company on lodging while divesting of non-core businesses. Finally, since its inception back in 1966, Accor has built its foundation on hiring and retaining the best possible employees, giving them every opportunity to fulfill their professional dreams. This philosophy transcends all geographic or ethnic boundaries; it's just good business sense. We are proud to be honored by Global Finance and to take our place among such prestigious companies."

Established in 1987, Global Finance covers the key events and trends that affect multinational companies and financial institutions each month. It has more than 300,000 readers among senior corporate executives, bankers, money managers, and government policy makers in more than 185 countries.