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Host Marriott Corporation Announces the Pricing of Four Million Shares of Redeemable Preferred

Press Release: Host Marriott Corporation
Stock
May 27, 2004
BETHESDA, MD -- Host Marriott Corporation (NYSE: HMT) yesterday announced that the Company has agreed to issue and sell in a new offering 4 million shares of 87/8% Class E cumulative redeemable preferred stock for net proceeds before expenses to the Company of approximately $96.9 million. The preferred shares were offered pursuant to a prospectus supplement to the prospectus filed as part of the Company's universal shelf registration on Form S-3 dated April 19, 2004. UBS Investment Bank and Bear, Stearns & Co. Inc. acted as joint book-running managers for this transaction. Deutsche Bank Securities acted as a senior co-manager, and Legg Mason Wood Walker Incorporated and Stifel, Nicolaus & Company Incorporated were co- managers. The Company has granted the underwriters an option, exercisable for 30 days, to purchase up to an additional 160,000 shares of Class E cumulative redeemable preferred stock to cover over-allotments, if any. If the underwriters' option is exercised, the additional net proceeds will be approximately $3.9 million.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction where such an offering or sale would be unlawful. A written prospectus meeting the requirements of Section 10 of the Securities Act of 1933 may be obtained from Investor Relations, Host Marriott Corporation, 6903 Rockledge Drive, Suite 1500, Bethesda, Maryland 20817.

Host Marriott Corporation is a Fortune 500 lodging real estate company, which owns 111 upscale and luxury full-service hotel properties primarily operated under Marriott, Ritz-Carlton, Hyatt, Four Seasons, Hilton and Westin brand names.

Source: Host Marriott Corporation