MS. NORA GAINER JOINS PREFERRED HOTELS® & RESORTS AS DIRECTOR OF MARKETING PROGRAMS

Chicago, IL, November 13, 2001—Ms. Nora Gainer has joined Preferred Hotels & Resorts Worldwide as the Director of Marketing Programs.

As the newest member of the Preferred Brand Marketing team, Gainer will oversee the creation and implementation of Preferred’s cooperative marketing programs. Gainer has extensive hotel marketing experience, coming to Preferred after six years with Swissôtel Management USA, where she was Director of Marketing Communications for North and South America. Prior to Swissôtel Management, Nora worked for the Italian Trade Commission and Zincografica Felssinea, an Italian publishing company. A native of Chicago, Illinois, where she currently resides, Nora is a graduate of the University of Illinois.

Founded in 1968, Preferred HotelsÒ & Resorts Worldwide (www.preferredhotels.com; GDS code/PH) is a global brand of 120 of the world’s finest independent luxury hotels and resorts. To qualify as a Preferred hotel or resort, each property must adhere to Preferred’s Standards of Excellenceä, an exhaustive quality assurance program that includes an annual, third party unannounced audit of 1,600 standards and practices. The rigorous approach to quality ensures that guests consistently enjoy the highest standards of personal service and hospitality. Headquartered in Chicago, the company has sales offices in New York, Los Angeles, London, Paris, Milan, Frankfurt, Madrid, Sao Paolo, Boston, Singapore, Hong Kong, Tokyo and Sydney. Preferred Hotels & Resorts Worldwide is a wholly owned subsidiary of IndeCorp Corporation, an organization dedicated to providing independent hotel brands with the resources needed to compete effectively with global hotel chains and preserve the diversity and distinctiveness of the world’s independent hotels.