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Four Seasons Hotels and Resorts to Open Hotel in Mumbai

First Property in India for Leading Luxury Hotel Company

Press Release: Four Seasons Hotels and Resorts
October 27, 2003
MUMBAI, India -- Magus Estates and Hotels Private Limited of India and Four Seasons Hotels and Resorts of Toronto, Canada, announced Oct. 24 that they have entered into an agreement to open a new hotel in Mumbai. Leaders from both companies participated in a ceremonial signing today, which was attended by Prime Minister Jean Chretien of Canada, who is on an official visit to India.

"India is a very important market for Four Seasons and we're delighted with this new opportunity," said Isadore Sharp, Founder and CEO, Four Seasons Hotels and Resorts. "We believe we have found exactly the right project in Mumbai and look forward to creating the best hotel in the market."

The hotel, to be called Four Seasons Hotel Mumbai, will be located at Worli, overlooking the Arabian Sea. Standing 35 stories tall, the $70 million project is expected to open in 2005. The project will be developed by Magus Estates and Hotels Private Limited and operated by Four Seasons under a long-term management contract.

"This collaborative venture finally brings to India a brand which is viewed by the most discerning guests around the world as the ultimate blend of caring hospitality and luxurious surroundings," said Shiv Jatia, Owner, Magus Estates and Hotels Private. Limited. "Four Seasons Hotel Mumbai will set new standards for luxury and service in India."

With a history spanning four decades and a portfolio that extends worldwide, Four Seasons Hotels and Resorts is the world's leading operator of luxury hotels, currently managing 58 properties in 27 countries. Four Seasons Hotel Miami opened on October 1, 2003, in the heart of the city's financial district. Further openings in 2003 will include a resort in Great Exuma (The Bahamas) and the company's first mountain resort in Jackson Hole, Wyoming. Four Seasons continues to grow, with more than 20 projects under construction or development in choice locations around the world. The company has claimed first position on many prestigious lists. Recent honours include being named to Fortune magazine's list of 100 Best Companies to Work For (for the sixth consecutive year); and AAA Five Diamond awards (receiving more than any other hotel company for the 22nd consecutive year). Information on the company and its 42 years of achievement in the hospitality industry can be accessed through the Four Seasons Web site at www.fourseasons.com.

Mr. Shiv Jatia, co-owner of Magus Estates and Hotels Private Limited with his brother Mr. Raj Kumar Jatia, is an international businessman, with interests in the energy sector as well as the hotel industry. Jatia has an interest in a number of existing hotels in Mumbai, Calcutta and Delhi.

Source: Four Seasons Hotels and Resorts