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Paul Hastings Advises Strategic Hotels & Resorts on Public Offering & Debt Tender Offer

May 19, 2010

New York (May 19, 2010 )- Paul, Hastings, Janofsky & Walker LLP, a leading global law firm, announced today that the firm advised Strategic Hotels & Resorts, Inc., a real estate investment trust which owns and provides value-enhancing asset management of high-end hotels and resorts, on its public offering, which closed today, and its related outstanding debt tender offer. The company sold a total of 75.9 million shares of common stock, including 9.9 million shares of common stock issued pursuant to the exercise in full of the underwriters over-allotment option.

Strategic Hotels received approximately $333.1 million from the offering after deducting the underwriting discounts and commissions and expenses related to the offering. It will use the net proceeds from the offering to, among other things, fund its current tender offer for any and all of the outstanding 3.50% exchangeable senior notes due 2012 of the companys operating partnership, Strategic Hotel Funding, L.L.C.

Partner Michael L. Zuppone led the Paul Hastings team, which included Jeffrey J. Pellegrino, Joseph P. Opich, Keith D. Pisani, Yariv C. Katz and Claudia J. Kim.

Paul, Hastings, Janofsky & Walker is a leading global law firm with offices in Asia, Europe, and the United States. We provide innovative legal solutions to financial institutions and Fortune 500 companies. Please visit www.paulhastings.com for more information.