BOSTON, March 10 / ITT Sheraton Corporation, a wholly owned subsidiary of Starwood Hotels & Resorts Worldwide, Inc. HOT, and Visa U.S.A. announced today that they have entered into a long-term, multi-million dollar marketing alliance. This agreement will result in a joint advertising campaign, consumer and trade promotions and joint sponsorships. The alliance will also give Visa cardholders access to special value-added offers and incentives when they use their Visa to pay for their stays at Sheraton Hotels & Resorts, members of The Luxury Collection and Four Points Hotels by ITT Sheraton in the U.S.

The joint marketing relationship, effective immediately, may include: joint print and Internet advertising campaigns, point of sale materials, promotions, sweepstakes and special offers for Visa cardholders. The first such offer, launched to celebrate the new marketing alliance, provides special cardholder benefits at the eight ITT Sheraton resorts in Hawaii.

The marketing initiative also will benefit the travel agent community via tailored ITT Sheraton/Visa promotions on the Apollo and Galileo global distribution systems.

"ITT Sheraton's relationship with Visa dates back to 1992, when together, we introduced the Sheraton SureSavers value-pricing program," said David Van Kalsbeek, Senior Vice President, ITT Sheraton Corporation, Director of Marketing & Strategic Planning. "Today, just like back in '92, the real winners are our customers. Now, we embark on launching a multi-year series of compelling offers and initiatives, as well as adding advertising and promotional muscle to programs already in place, such as '9 to 5(SM)' 'Vacations by Sheraton (SM)' and our three brands. We expect that these, along with the upcoming co-branded programs, will build even stronger customer loyalty by enhancing brand equity for both companies."

"Joining Visa with ITT Sheraton's three leading brands creates a travel marketing powerhouse that will improve the overall travel experience of Visa's 618 million cardholders and Sheraton's guests worldwide," said Thomas C. Edwards, Senior Vice President, Market Development and Acceptance for Visa U.S.A. "We are pleased to unite the world's largest payment system with a leading hotel company such as ITT Sheraton."

The special Hawaii promotion celebrates the new marketing alliance and kicks off the first of the special offers for Visa cardholders. The offer includes a fifth night free after a four-night stay, plus a daily dining credit of $50 at the Sheraton Maui and the Princeville Resort on the island of Kauai and The Orchid at Mauna Lani on the Big Island of Hawaii, both members of The Luxury Collection. Guests at the Sheraton Waikiki, Sheraton Moana Surfrider, The Royal Hawaiian and Sheraton Princess Kaiulani on Waikiki Beach and the Sheraton Kauai Resort on the island of Kauai receive a $25 daily dining credit. And, as a warm Hawaiian "Mahalo" (thank you) to those paying with their Visa cards, ITT Sheraton will offer the choice of a 4:00 p.m. late check out or a complimentary one category room upgrade.

The offer is valid for stays through December 19, 1998 on Maui, Kauai and the Island of Hawaii and through December 27, 1998 on O'ahu. Guests can take advantage of this special promotion by calling the ITT Sheraton Resorts Desk at 1-800-782-9488 or their travel professional. (See notes at end of release for specific terms and conditions.)

A joint ITT Sheraton and Visa advertising campaign will introduce consumers to the special Hawaii offer and kicked off on March 6 in the Western edition of the Wall St. Journal, to be followed by insertions in the San Francisco Chronicle, San Francisco Examiner, Chicago Tribune, Los Angeles Times, Orange County Register, San Jose Mercury News, Contra Costa News, New York Times, San Diego Union-Tribune and the Sacramento Bee. Travel trade publication inserts will include Hawaii Time and TravelAge.

Visa is the largest consumer payment system worldwide. It plays a pivotal role in advancing new payment products and technologies to benefit its 21,000 member financial institutions, their cardholders and the global economy. Visa is the only consumer payment system to facilitate $1 trillion worth of purchases of goods and services in a fiscal year. Visa's 618 million cards are accepted at more than 14 million worldwide locations, including more than 400,000 ATMs in the Visa/PLUS Global ATM network. Visa's Internet address is www.visa.com.

ITT Sheraton Corporation offers guests a choice of more than 450 hotels and resorts in 64 countries around the world. ITT Sheraton's world wide web address is .

Terms and conditions of Hawaii offer: Offer subject to availability and change. Room rates and dining credits are per room per night and exclude taxes. Additional terms apply. Fifth night free is applicable on a continuous stay at one hotel. Dining credits are valid 3/29/98 - 6/15/98, and 11/1/98 - 12/20/98 only. Not applicable to beverages. No credit value for unused dining credits which expire at the end of each day. Not applicable to Princess Kaiulani City View rooms.

Exclusive Visa offer: choice of complimentary one category upgrade or 4 p.m. late check out subject to availability at time of check in.

Dolores Sanchez, 617-367-5481
ITT Sheraton Corporation