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Paul Hastings Represents Strategic Hotels & Resorts In The Closing of Approximately $1.2 Billion In Deals Over Ten Months 

May 26, 2006

Paul Hastings Represents Strategic Hotels & Resorts In The Closing of Approximately $1.2 Billion In Deals Over Ten Months 
Firm's Securities and Capital Markets Practice Assists with Six Transactions


New York, NY (May 26, 2006) - Paul, Hastings, Janofsky & Walker LLP (Paul Hastings), a leading international law firm, has represented Strategic Hotels & Resorts, Inc., a NYSE-listed hotel real estate investment trust, in the closing of public offerings of common and preferred stock worth over  $1.2 billion in the past ten months. 

Most recently, the firm represented Strategic Hotels & Resorts in its underwritten public offering of 16,100,000 shares of its common stock at $20.50 per share, which closed May 24, 2006.  Gross proceeds to the company totaled approximately $330.1 million. 
Over the past ten months, the Securities and Capital Markets practice has represented its client in six capital markets transactions, serving as outside general corporate securities counsel.  Last week, Paul Hastings assisted Strategic Hotels & Resorts in closing its underwritten public offering of $143.75 million of 8.25% Series C cumulative redeemable preferred stock with a liquidation preference of $25 per share.

Additionally, the firm has represented Strategic Hotels & Resorts in:

  • a $229 million follow-on common stock offering
  • a $115 million Series B cumulative redeemable preferred stock offering
  • a $414.6 million combined primary/secondary follow-on common stock offering (which included the exit of the company's pre-IPO private equity sponsors)
  • a redemption and exchange offer to approximately 150 private investor operating company unit holders

The Paul Hastings team, led by New York partner Michael Zuppone, also included partner Joseph Opich and associates Jon Tyras, Yariv Katz, Amy Rosenberg and Sirimal Mukerjee.

About Strategic Hotels & Resorts, Inc.: Strategic Hotels & Resorts is a real estate investment trust (REIT), which owns and asset manages high-end hotels and resorts. The Company has ownership interests in 18 properties with an aggregate of 8,463 rooms.

Paul, Hastings, Janofsky & Walker LLP, founded in 1951, is a leading international law firm with 1,000 attorneys in 17 offices. The firm serves a diverse client base including many of the top financial institutions and Fortune 500 companies, supports clients in all of their legal needs and offers deep capabilities in Banking and Finance, Capital Markets, Corporate/M+A, Litigation and Dispute Resolution, Intellectual Property, Project Finance, Investment Management, Real Estate, Labor and Employment and Tax Advisory Services. For additional information, please visit our website at www.paulhastings.com.

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