BASS FINALISES ACQUISITION OF SPHC AND BECOMES LARGEST HOTEL OPERATOR IN ASIA PACIFIC

 (SINGAPORE, APRIL 4, 2000) - Bass Hotels & Resorts (BHR) today became

the largest hotel management company in Asia Pacific and reinforced

its dominant position as the global leader in distribution strength

following successful completion of the Southern Pacific Hotels

Corporation (SPHC) acquisition which adds 59 hotels to the BHR

regional portfolio.

BHR announced on January 18 that it had entered into an agreement to

purchase the share capital of Hale International Limited, which owned,

leased, managed and franchised the 59 hotels through various operating

companies, including SPHC.

The acquisition covers 24 hotels in Australia (including six owned or

leased), 13 in New Zealand, eight in the South Pacific Islands, three

in Papua New Guinea and 11 in Asia. The consideration, as previously

announced, is £128 million. BHR is now the second-largest hotel

operator in Australia.

Mr Richard Hartman, Managing Director of Bass Hotels & Resorts-Asia

Pacific, said today that the acquisition of SPHC "significantly

strengthens our number one position in Asia Pacific - where BHR now

manages a total of 160 hotels offering more than 40,000 rooms."

Mr Hartman added that the SPHC acquisition was also "part of a

five-year strategy to achieve market leadership in Australia/New

Zealand". Over the past two years, BHR has acquired full equity

ownership in six of its existing Australian properties in Sydney

(two), Melbourne, Newcastle, Perth and Terrigal.