Paul Hastings Represents Strategic Hotels in Acquisition of Remaining Interest in InterContinental Chicago Hotel

June 27, 2011

New York, NY (June 27, 2011)- Paul, Hastings, Janofsky & Walker LLP, a leading global law firm, announced today that the firm represented Strategic Hotels & Resorts, Inc. in the acquisition of the 49 percent interest in the InterContinental Chicago hotel previously held by an affiliate of the Government of Singapore Investment Corporation in exchange for approximately 10.8 million shares of Strategic's common stock at an agreed upon issuance price of $6.50 per share, approximately $11.8 million of cash, pro rata share of working capital and certain reimbursements, subject to a post-closing adjustment.

Michael L. Zuppone, chair of the Securities & Capital Markets practice, and Yariv Katz, Securities & Capital Markets associate, led the Paul Hastings team, which included Corporate associate Keith Gartner.

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.