Rezidor SAS signs multi-brand agreement with Carlson Hotels Worldwide - Group to Expand Portfolio to over 700 hotels in Europe, the Middle East and Africa

Under the terms of the agreement, Rezidor SAS Hospitality will:

• Become the master franchisor for the EMEA region for 30 years for three additional Carlson hotel brands.
• Operate or license the hotels in the region under the names Regent; Country Inn and Park Inn hotels, complementing the existing Radisson SAS Hotels & Resorts brand, reaching the major segments of the hospitality industry.
• Reach over 700 hotel locations within the next 10 years for the four brands.
• Take over existing management and franchise contracts for these brands in the region.

Rezidor SAS - fully-owned by the SAS Group - currently operates 114 Radisson SAS hotels and resorts within the EMEA region. In addition, over 40 Radisson SAS hotels and resorts are currently under development.

Kurt Ritter, President & CEO of Rezidor SAS comments; "From our comparatively humble beginnings as SAS Hotels over forty years ago, Radisson SAS Hotels & Resorts has invested considerable time, effort, expertise and money to become a recognised leader in its chosen field. Carlson Hotels Worldwide, with the strength of its international brands, could have chosen to enter the Europe, Middle East and Africa arena in its own right. It is a testament to our proven track record that Carlson has chosen instead to partner with us to fulfil its global ambitions. It has to be said that after eight years of collaboration, the Carlson-Rezidor SAS partnership is mature and fully ready for this new significant step."

Curtis Nelson, President and CEO of Carlson Hospitality Worldwide, the parent company of CHW, comments; "This is a breakthrough agreement, which significantly benefits both companies. As the travel industry continues to consolidate, the power of global branding is a key element of future success in serving our customers. Partnership is power and this agreement is a major advancement of that strategy in the hotel industry."

"The experience and expertise that we have acquired over the years will ensure that Carlson's global presence, with all the efficiency and service-level economies of scale that size brings, will be enhanced by Rezidor SAS' intimate local and regional knowledge," added Ritter.

Note to Editors:

Rezidor SAS Hospitality currently operates 114 Radisson SAS hotels and resorts in 38 countries, with a number of new destinations in the pipeline. Rezidor SAS Hospitality is a wholly owned subsidiary of the SAS Group.

Carlson Hotels Worldwide, the lodging operations of Carlson Hospitality Worldwide, includes over 815 hotel and resort locations in 63 countries. Specific operations of Carlson Hotels Worldwide includes Regent International Hotels; Radisson Hotels & Resorts, Country Inns & Suites By Carlson; and Park Plaza and Park Inns hotels.

2002-09-24

Fact Sheet

Rezidor SAS Development Plans in Europe, the Middle East and Africa

Radisson SAS Hotels & Resorts - Rezidor SAS currently operates 114 Radisson SAS hotels and resorts with over 40 hotels under development in 38 countries in the region. Rezidor SAS expects to expand the brand significantly in the region within the next 10 years. Key development priorities include Scandinavia, the United Kingdom, Germany, France, Poland and the Benelux. Highlights of some of the most recent openings in 2002 include the first hotel in the heart of Paris, just off the Champs Elysées; and properties in Leeds, United Kingdom; Limerick, Ireland; and Wroclaw and Warsaw in Poland. Another nine contracts were signed this year for hotels in Birmingham, United Kingdom; Sochi, Russia; Narvik, Norway; Karlstad, Sweden; Berlin (two), Germany; Marseille, France; and Istanbul and Ankara, Turkey.

Regent - There are currently two Regent hotels in the EMEA region in Berlin, Germany; and Almaty, Kazakhstan. Rezidor SAS plans to develop a considerable number of Regent hotels in the next 10 years, with particular growth expected in the Middle East region.

Country Inn - Currently, there are 12 Country Inn locations in Europe, in the United Kingdom (2), Germany (7) and Austria (2), including the most recent opening at Charles de Gaulle Airport in Paris, France. Rezidor SAS will now manage and oversee licensing relationships for these properties and expects to grow the brand substantially within the next 10 years.

Park Inn - Rezidor SAS officials said they expect to expand this brand initially in South Africa (Cape Town) and the United Kingdom, but also in the United Arab Emirates and Saudi Arabia. The total number of hotels for this brand is expected to rapidly increase within 10 years. The Park Plaza brand, which is included in Carlson Hotels Worldwide's global portfolio, is not included in this licensing agreement with Rezidor SAS.