Strategic Hotels & Resorts, Inc. Amends Tender Offers to Decrease the Minimum Tender Condition to 3.2M Shares and Extends Offers

Strategic Hotels & Resorts, Inc.

today announced that it has decreased the minimum tender condition and extended the expiration date of its offers to purchase up to 4,716,981 shares in the aggregate of its issued and outstanding (i) 8.25% Series C Cumulative Redeemable Preferred Stock, $0.01 par value per share, at a purchase price of $26.50 per share, (ii) 8.25% Series B Cumulative Redeemable Preferred Stock, $0.01 par value per share, at a purchase price of $26.50 per share and (iii) 8.50% Series A Cumulative Redeemable Preferred Stock, $0.01 par value per share,, at a purchase price of $26.70 per share, in each case, net to the seller in cash, less any applicable withholding taxes and without interest or accrued and unpaid dividends.