Bob Morse Named Chief Operating Officer of Noble Investment Group; Also Named President of Noble Management Group.

ATLANTA -- Officials of Noble Investment Group, one of the hospitality industry's leading owners and operators of luxury and upscale hotels, conference centers and resorts, today announced that Bob Morse has joined the company as chief operating officer. Additionally, he has been named president of Noble Management Group, the company's hospitality management division.

"Bob Morse is one of the most highly respected operators and leaders in the hospitality industry," said Mit Shah, Noble Investment Group president and CEO. "Bob and I have been friends for several years and he brings to Noble a proven track record of success to oversee the accretive operations of our growing portfolio of hotels, convention centers, resorts, championship golf courses, spas and dining operations."

Prior to joining Noble, Morse was chief operating officer of Interstate Hotels & Resorts (NYSE:IHR). "Interstate is an excellent company with great people and a solid future," Morse said. "Noble allows me the opportunity to be more 'hands-on' and to participate as a principal in the company's future growth. Noble is well known and respected throughout the industry, and I very much look forward to helping execute on our strong opportunities."

As chief operating officer of Noble Investment Group, Morse will be responsible for all hotel operations and for optimizing Noble's balanced scorecard approach with the delivery of management resources, processes and practices throughout the organization. He also will serve on Noble's internal investment committee as the organization continues to execute on its broad investment strategy. As president of Noble Management Group, Morse will direct the results and guidance of the increasing operating portfolio, as well as actively seek out new opportunities for the company to provide value-added hotel, resort and conference center management.

Shah noted, "In 2004, Noble acquired and started development on an aggregate of more than $200 million in new hospitality projects. As we begin 2005, we have a highly talented and experienced leadership team in place to further aggressively execute on strategic investment opportunities and drive operational performance throughout each segment of our business as we build long-term value."

Morse has held a number of increasingly important positions within the industry, including president of the franchise division for ITT Sheraton Corporation, as well as president-North America and executive director of London-based Millennium and Copthorne Hotels, PLC. He received a bachelor's degree in hotel, restaurant and travel administration from the University of Massachusetts where he is a board member of the schools Restaurant and Travel Administration Department. Morse also is a trustee of the American Hotel & Lodging Association's Educational Institute, a member of the board of the IAHI, chairman of the Crowne Plaza advisory council, member of the Starwood Hotels and Resorts North American owners advisory council, and a member of the advisory board for Hilton Hotels.

Noble Investment Group is a leading national hospitality organization that conducts business through three, wholly-owned strategic divisions. Noble Capital Group makes ownership investments in luxury and upscale hotels, resorts and convention/conference centers. Stormont Noble Development is a pre-eminent developer of first class hospitality and mixed use developments, and Noble Management Group is the company's award-winning operating arm.

An acclaimed operator of independent destination resorts and upscale hotels affiliated with Marriott, Hilton, and InterContinental Hotels Group, Noble Management Group operates more than 4,500 hotel and resort guest rooms including 500,000 sq. ft. of meeting space, convention and conference centers, championship golf courses, spas, and fine dining operations, together with approximately 7,000 hotel rooms operated by Alliance Hospitality Management, a majority-owned affiliate of Noble.

Since 1979, Noble Investment Group and its predecessors have developed and acquired more than $900 million in hospitality assets. In 2004, the company began development on and acquired an aggregate of $200 million in hospitality investments.