Four Seasons Hotels Inc. Press Release.

Business Editors

TORONTO--(BUSINESS WIRE)--May 29, 2001

Four Seasons Hotels Inc. (TSE:FSH.) (NYSE:FS) announced today that the Board of Directors has declared the following semi-annual dividends:

     (i)   A dividend in the amount of 5.5 cents per share be and it is
         hereby declared on the Limited Voting Shares ("LVS") for the
         period ending June 30, 2001, payable on July 16, 2001, to the
         holders of LVS of record at the close of business on June 29,
         2001; and

     (ii)  Pursuant to Section 3.1 of the Articles of Amendment of the
         Corporation dated October 3, 1996, a dividend in the amount
         of 2.75 cents per share, being half the dividend declared
         payable on the LVS pursuant to paragraph (i) above, be and it
         is hereby declared on the Variable Multiple Voting Shares
         ("VMVS") for the period ending June 30, 2001, payable on July
         16, 2001, to holders of VMVS of record at the close of
         business on June 29, 2001.

With a history spanning four decades and a portfolio that now extends to six continents, Four Seasons Hotels and Resorts is the world's leading operator of luxury hotels, currently managing 50 properties in 22 countries. The award-winning Canadian company has claimed first position on numerous honours lists, among them the AAA Five Diamond awards (receiving more than any other hotel company for the 20 th consecutive year), Zagat Survey 2001 (ranking as "Top Hotel Chain in the U.S." and "Top Hotel Chain" internationally), and leading publications and industry awards around the globe. Information on the Company and its 40 years of achievements in the hospitality industry can be accessed through the Four Seasons website at: www. fourseasons.com.