Fairmont Hotels & Resorts Announce
New Luxury Resort On Anguilla

Mixed-use Project Scheduled for Completion 2010

TORONTO, May 30, 2007 - Fairmont Hotels & Resorts ("Fairmont") and Conch Bay Development Ltd are pleased to announce Fairmont Anguilla, a new luxury mixed-use resort scheduled to open in 2010. The resort, on the Caribbean island of Anguilla, has been selected as the site for a Jack Nicklaus Golf Club, one of 25 worldwide destinations.

Located on over 400 acres of beachfront property on the south side of the island, the resort will encompass a hotel, an 18-hole championship golf course and Fairmont Residences, a collection of condominiums, villas and estate homes. Locally known as the Forest Estate, the property will be developed by an Anguillian family-owned company, Conch Bay Development Ltd., officially represented by Joyce Kentish and George Lake.

The hotel will feature 140 rooms and suites, 15,000 square feet of meeting space, a 15,000 square-foot Willow Stream spa, dining outlets, a beach club and a variety of pools. The resort will also host a Jack Nicklaus Golf Club, an exclusive access and reciprocity program for a limited number of elite Jack Nicklaus Signature Golf Courses. The program will be available to no more than 35 Members, owners of luxury golf villas alongside the course, with access to an exclusive clubhouse.

Anguilla, located east of Puerto Rico, is one of the fastest growing upscale travel destinations in the Caribbean, with vacationers attracted to the tranquil island which affords sophisticated dining and nightlife along with some of the finest white-sand beaches in the region. Tourism officials have guarded development in order to conserve natural beauty and resources. "We are very pleased that Anguillan owners and developers are participating in this development," commented Chief Minister Osbourne Fleming. He continued, "This is one of the largest projects to be undertaken by an Anguillan company, and we are pleased not only by the high caliber of partners involved, but that the island will benefit from responsible development."

"The Jack Nicklaus Golf Club of Anguilla site is located on prime oceanfront property that is ideal for golf. Several holes will play to or along the water, and all but three should feature spectacular views across the sea and of the beautiful mountains of St. Martin. Add to this the pristine beaches, and you have all the elements in place for a memorable golf experience," said Jack Nicklaus."

William R. Fatt, Fairmont's Chief Executive Officer, stated, "We are delighted to expand our presence in the Caribbean, and look forward to working with the Kentish and Lake families to build on the momentum of this destination. Fairmont Anguilla will be known for its commitment to providing warm hospitality and service excellence in distinctive surroundings, traits which have been hallmarks of the Fairmont brand for well over a century."

About Fairmont Hotels & Resorts
With the opening of the landmark Fairmont San Francisco in April 1907, one of the world's leading luxury hotel brands was born. For over a century, Fairmont Hotels & Resorts has offered warm hospitality and timeless elegance in unforgettable locations. Throughout 2007, our 51 distinctive hotels in 10 countries, from fabled castles to secluded lodges and modern retreats, will celebrate a centennial of rich experiences and lasting memories. Committed to growing its portfolio of world-class hotels, which includes The Fairmont Banff Springs and London's Savoy, Fairmont will soon reflag four hotels in Kenya and anticipates the re-opening of New York's famed Plaza Hotel. Future Fairmont Hotels & Resorts also include locations in Cairo, Abu Dhabi, Vancouver and South Africa. Fairmont Raffles Hotels International operates over 120 hotels worldwide under the Fairmont, Raffles, Swissotel and Delta brands, as well as vacation ownership properties managed by Fairmont Heritage Place. For more information or reservations, please call 1-800-441-1414 or visit www.fairmont.com.

About Nicklaus Design
For more than 35 years, the mission of the Nicklaus Companies has been to enhance the golf experience, and to bring to the national and international consumer golf-related businesses and services that mirror the high standards established in the career and life of Jack Nicklaus. These services include golf-course design, the development of golf and real estate communities, and the marketing and licensing of golf products and services. Nicklaus Design, recognized as the world leader in golf course design, has been involved with over 310 courses open for play in 29 countries and 38 states. Of those, Jack Nicklaus has designed, co-designed or re-designed 254 courses around the globe, more than 50 of which have been ranked in various national or international Top-100 lists. Nicklaus Design currently has over 50 courses under construction, as well as projects under development in 37 different countries.