FIRST MARRIOTT HOTEL SCHEDULED FOR TAIWAN THROUGH AGREEMENT WITH YIHWA INTERNATIONAL CORPORATION

417-Room Taipei Marriott Hotel is Scheduled to Open in Late 2004

The first Marriott-branded hotel is scheduled to open in late 2004 in Taipei, Taiwan as a result of a franchise agreement reached with Yihwa International Corporation, a special purpose company owned primarily by Taipei Brickyard Corporation and a group of minority shareholders. Construction is expected to begin in 2001.

The 417-room Taipei Marriott Hotel will be located in the Sixth Neihu Consolidation District, just north of the city's central business district in the heart of its high tech electronics zone. The mixed-used complex, which includes the hotel, will be the tallest building in Neihu, and it is considered a “landmark” project by the local authorities.

The hotel will be situated approximately a 45-minute drive by car from Chiang Kai-Shek International Airport and a 10-minute drive from Taipei Sung Shan Domestic Airport. Some of the companies which are located nearby the planned Taipei Marriott Hotel are Systec Corporation, Acer Computers and Winbond Electronics.

"We are excited to have a presence in Taiwan, one of the most important business destinations in Asia," said Ed Fuller, president and managing director of international lodging for Marriott International (NYSE:MAR). "We are confident that this hotel will be a popular addition to Taipei's lodging infrastructure."

Speaking for the ownership group, Mr. B.H. Chang, chairman of Yihwa International Corporation, said, "We have strong confidence in this relationship and we look foward to working with Marriott to develop this exciting project."

For dining and entertainment, the Taipei Marriott Hotel will have two restaurants and a lobby lounge. Recreational amenities will include a health and fitness center, two swimming pools including an indoor lap pool, and two squash courts.

Other amenities will include 51 executive level rooms and a lounge, a full-equipped, state-of-the-art business center, a gift shop, a beauty and barber shop, 24-hour room service and a car park. Additionally, all guestrooms will feature four-fixture baths.

For social events and conferences, the Taipei Marriott Hotel will offer 1,666 square meters of meeting space. Included will be a 948-square-meter ballroom that will be divisible into six sections; a 330-square-meter junior ballroom and seven additional individual meeting rooms.

Marriott Hotels, Resorts and Suites are Marriott International's flagship brand of upscale, full-service hotels and resorts. It is positioned to provide services that enable life away from home to be extraordinary by providing consistent, dependable, genuinely caring experiences. At the end of October 2000, there are 373 Marriott hotels globally.