Conrad Hotels Announces Management Agreement for New Luxury Hotel in Jakarta, Indonesia.

BEVERLY HILLS, Calif. & JAKARTA, Indonesia -- Conrad(R) Hotels, the luxury brand of the Hilton Family of Hotels, reached an agreement on July 22nd with Indonesian company PT. Majumakmur Arthasentosa to manage the new Conrad Jakarta. This purpose-built, luxurious 320-room and suite hotel, including 50 fully-serviced Conrad Residences, will be built as part of the city's Sudirman Plaza, a multi-use complex located in the heart of Jakarta's commercial and business district on Jalan Jenderal Sudirman in Jakarta's Golden Triangle.

"We are excited to work with PT. Majumakmur Arthasentosa to operate and manage a Conrad hotel in Jakarta, Indonesia's dynamic capital," said Dieter Huckestein, chairman & CEO for Conrad Hotels, and president of the Hilton Global Alliance. "An outstanding location -- in the heart of Jakarta's business and financial district -- combined with Conrad's ability to cater to the discerning business and leisure traveller proves a powerful combination that will contribute to the success of the hotel, its residences and the overall multi-use development."

Scheduled to open in 2008, the Conrad Jakarta will feature luxuriously appointed guest rooms, deluxe suites and presidential suites in addition to six restaurants, a fully-equipped health club, two tennis and squash courts, a beautifully-landscaped roof garden with a swimming pool and pool-side al fresco dining. An Asian-themed spa offering a full range of therapeutic treatments incorporating age-old recipes and formulas handed down by generations of Asian women will be available. The spa's menu of treatments will emphasize spiritual well-being and natural curatives designed to soothe and nurture the mind, body and spirit. The hotel's extensive banquet and meeting facilities will feature 20 flexible meeting rooms totalling more than 2,000 square meters of ballroom and meeting space. A number of these meeting facilities will feature direct access to a private executive lounge, offering guests a seamless meeting experience. Other proposed features of Conrad Jakarta's banquet and meetings rooms include cutting-edge audio-visual and telecommunications facilities along with comprehensive multi-media applications and a fully-staffed and technologically equipped business center. The hotel's guest rooms will feature high-speed internet access and wireless connectivity to the internet (Wi Fi) will also be available throughout the hotel's lobby and public areas.

The opening of a second Conrad hotel in Indonesia, after the successful opening of the Conrad Bali Beach Resort & Spa in March 2004 creates an ideal opportunity of a dual-destination on Indonesia's archipelago of islands, offering guests a luxury option in Indonesia's bustling capital city of Jakarta, located on the island of Java and a beachside resort and spa destination on the renowned island of Bali.

The Sudirman Central Business District (SCBD) is a fully integrated mixed-use development that merges commercial, residential, hospital and retail elements along with public facilities of world-class standards, all within a 45-hectare site in the South Jakarta District -- offering unparalleled convenience and benefit to its business tenants, hotel guests and apartment residents. Apart from Conrad Jakarta, when fully completed, the SCBD will feature 60,000 square meters of prime shopping experience -- including an expansive supermarket, upscale retail stores and themed restaurants -- 500 fully equipped and furnished serviced apartments, a state-of-the-art hospital, 200,000 square meters of commercial office space housed in three currently operational office towers, a golf driving range and over 700,000 square meters of underground parking.

About Conrad Hotels

With 18 award-winning luxury hotels strategically located in capital cities and exotic resorts in Europe, the Americas, Asia Pacific and Middle East/Africa, Conrad offers value to both business and leisure travelers by establishing and maintaining the highest levels of service delivery with the renowned "Conrad Service Culture." The hotels provide fine accommodation, excellent restaurants, fully equipped health clubs and sophisticated meetings facilities. Another five Conrad development projects are planned in the US, the Caribbean, Thailand, China and the UAE (Dubai) for future openings between 2006 and 2008. All Conrad guests benefit from the Hilton worldwide reservation system and its acclaimed guest loyalty program, Hilton HHonors(R).

For information about Conrad Hotels and bookings, please visit: www.ConradHotels.com, contact your professional travel agent or call 1-800-CONRADS from the U.S. and Canada. Outside the U.S. and Canada, please contact the nearest Hilton Reservations Worldwide office or the hotel direct. The Conrad dedicated meetings website is: www.ConradMeetings.com. Conrad Hotels is the luxury brand of the Hilton Family of Hotels.

About PT. Majumakmur Arthasentosa

PT. Majumakmur Arthasentosa is an affiliate of PT Jakarta International Hotels & Development (JIHD), the developer of the Sudirman Central Business District. JIHD is a publicly listed company with substantial interests in property development, hotels and hotel management. In 1984 JIHD became one of the first Indonesian companies to be listed on the Jakarta Stock Exchange and has since grown to become one of the largest listed companies in Indonesia. JIHD's subsidiary, PT Danayasa Arthatama, owns and develops the Sudirman Central Business District. Among other holdings, JIHD also owns PT Artha Telekomindo, a telecommunications services company, and PT Jakarta International Hotels Management which manages several hotels and resorts in Asia.