Starwood to Redeem its 6.25% Senior Notes Due 2013

Starwood has confirmed that it will exercise its option to redeem all of its outstanding 6.25% Senior Notes due 2013 (CUSIP No. 85590A AK0), of which an aggregate principal amount of approximately $494,870,000 is outstanding.

The redemption date will be 29 June 2012.

The redemption price will be equal to the greater of 100% of the principal amount of the Notes to be redeemed or the sum of the present values of the remaining scheduled payments of principal and interest on the Notes discounted to the date of redemption, on a semi-annual basis, at a rate equal to the sum of the applicable Treasury Rate (as defined in the Notes) plus 35 basis points.

Accrued interest will be paid to, but excluding, the date of redemption.

The Treasury Rate will be calculated on the third business day preceding the date of redemption.

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