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FOUR SEASONS HOTELS ACQUIRES REGENT INTERNATIONAL HOTELS

 FOUR SEASONS HOTELS ACQUIRES REGENT INTERNATIONAL HOTELS
 TORONTO, Aug. 14 /PRNewswire/ -- Four Seasons Hotels Inc. (TSE:FSH) announced today that it has completed its previously announced transaction with Hotel Investment Corp. (HIC), a subsidiary of E.I.E. Group of Japan. The transaction involves the purchase by Four Seasons of all of the outstanding shares of Regent International Hotels Limited (Regent), a Hong Kong corporation, and the formation of a partnership (the Hotel Partnership) to which each of Four Seasons and HIC has contributed or will contribute ownership of certain hotels.
 Four Seasons Acquires 100 Percent Ownership of Regent
 Four Seasons has acquired 100 percent ownership of Regent, including its management contracts, trade names and trademarks, and a 25 percent leaseholds interest in the Regent Hotel in Hong Kong, for a purchase price of $122,000,000. Regent currently manages ten hotels, predominantly in Asia, and has five hotels under construction in Milan, New York, Bali, London and Jakarta.
 Bali, New York and Milan Hotels to Open as Four Seasons
 The resort in Bali, which is scheduled to open in Dec. 1992, and the hotels in New York and Milan, which are scheduled to open in early 1993, will be operated under the Four Seasons name. The London and Jakarta properties will operate under the Regent name.
 Regent also has numerous other projects under development which it will continue to pursue. Four Seasons intends to operate and expand globally both the Four Seasons and Regent brands.
 Wolf Hengst Named President of Regent
 Wolf Hengst, formerly the area vice president for Four Seasons Hotels and Resorts in Eastern North America and Europe, has been appointed president of Regent. The head office of Regent will remain in Hong Kong.
 Hotel Partnership
 The Hotel Partnership is owned 81 percent by HIC and 19 percent by FSH. The head office of the Hotel Partnership will be in Toronto and FSH and HIC will share responsibility for its administration. HIC has contributed to the Hotel Partnership ownership of its hotels in Fiji, Milan and New York. Upon obtaining certain consents, HIC will also contribute its ownership interests in the Regent Hotel Sydney, the Beverly Wilshire in Los Angeles, and the Four Seasons Resort in Bali.
 Four Seasons has contributed its hotels in Austin, Santa Barbara, and the Inn on the Park in Toronto, and its leasehold interests in Vancouver. Upon obtaining certain consents, Four Seasons will also contribute its leasehold interests in the Pierre in New York and in Four Seasons Hotel in Toronto.
 "We're pleased to acquire such a prestigious hotel company as Regent," said Isadore Sharp, chairman and president of Four Seasons Hotels and Resorts. "We feel that our own extensive sales and marketing network and operational expertise will support and strengthen Regent's leading position for years to come. We are committed to maintaining the high quality standards for which Regent is renowned at our newly acquired properties."
 He added, "Regent's world-renowned international portfolio of hotel complements Four Seasons' well-established North American base. Bringing these two together will build a global presence that could not otherwise have been obtained in the near term, making Four Seasons clearly the world's leading operator of luxury hotels and resorts."
 Four Seasons: The World Leader in Industry Awards
 Four Seasons Hotels and Resorts brings to the new partnership a long history of success and strong name recognition. Again in 1992, the company earned more industry awards than any other hotel group in the world. For the eleventh consecutive year, Four Seasons received more AAA Five Diamonds than any other company, with 11 hotels earning the coveted award. The Mobil Travel Guide awarded three Four Seasons hotels its coveted Five-Star rating among the 21 U.S. properties chosen, more than nay other hotel company.
 Seven Four Seasons properties ranked among the top 100 names in travel worldwide in Conde Nast Traveler's Reader Choice Awards of 1991, and six made the top ten U.S. hotels. Readers also named the Four Seasons Hotel Washington, D.C. among the top ten hotels in the world. As well, Institutional Investor readers once again chose Four Seasons as the world's best hotel company recognizing ten Four Seasons properties among the top 75 in the world, and nine among the top 25 in the Americans.
 Portfolio Reflects Expansion in International and Resort Markets
 Upon completion of the hotels currently under construction, Four Seasons and Regent together will be the world's largest operator of luxury hotels with 43 hotels in 17 countries. Regent and Four Seasons together will have 15 of the top 75 hotels in the world according to the Institutional Investor magazine, more than triple that of any competitor. Four Seasons currently owns and/or operates 23 Four Seasons properties in Canada, the United States, England, Japan, and the Caribbean; and ten Regent hotels in Asia, Australia, New Zealand, the South Pacific, and the United States. Four Seasons resorts under development are located in Kona, Hawaii; Carlsbad, Calif.; and Bali, Indonesia. Urban Four Seasons properties are under development in Paris, France; Singapore; Mexico City, Mexico; Milan, Italy; and New York City. Two Regent hotels are being developed in Jakarta, Indonesia and London, England.
 -0- 8/14/92
 /CONTACT: John B. Richards or J. Bruce Burkland of Four Seasons Hotels and Resorts, 416-449-1750, or Arhlene Flowers or Lorraine Abelow of Middleton Picower, 212-980-9060, for Four Seasons/
 (FSH) CO: Four Seasons Hotels Inc.; Hotel Investment Corporation ST: Ontario IN: LEI SU: TNM


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