Article: Historic Hotel Grande Bretagne, Athens, Greece Will Undergo $57 Million Renovation.

Business Editors

WHITE PLAINS, N.Y.--(BUSINESS WIRE)--Jan. 22, 2002

Starwood Will Continue to Manage 364-Room Hotel After Signing New

25-Year Management Contract with Lampsa, S.A.

A new management contract has been signed between Lampsa Greek Hotels Company and CIGA Hotels Greece, a subsidiary of Starwood Hotels & Resorts Worldwide (NYSE: HOT) for the management of the historic Hotel Grande Bretagne in Athens under Starwood's prestigious Luxury Collection banner for the next 25 years.

In connection with the new management agreement, Lampsa will begin a massive refurbishment and renovation program to start by December 31, 2001, ...

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