Statement from Hilton Caracas

CARACAS, Venezuela | The Centro Simon Bolivar, owners of the Hilton Caracas, have decided to terminate the lease contract of the Hilton Caracas effective August 31, 2007. This in turn brings an end to Hilton’s management of the property. This decision was made solely by the property’s ownership group, with whom Hilton has had a long-term productive relationship during the past 37 years.

The hotel will remain open and operational under the management of Hilton Hotels Corporation until August 31, 2007, at which time the hotel will cease operations under the Hilton brand. As of September 1, 2007, Desarrollos Gran Caracas, C.A., the new hotel operator, will begin managing the property.

All existing bookings for travel through August 31, 2007 will be honored by Hilton. Any reservations beyond August 31, 2007 will be individually handled by the new hotel operator, Desarrollos Gran Caracas, C.A..

Hilton Hotels Corporation and the management team at the hotel are working with displaced workers to offer relocation options, as appropriate, to other Hiltons in Venezuela and globally.

The team at Hilton Caracas thanks all guests, clients, suppliers, contractors, and concessionaires for their loyalty and patronage over the last 37 years.

For further information regarding the property, please contact Desarrollos Gran Caracas, C.A., the new management company, at (011) 212-5035000.