Strategic Hotels & Resorts Announces Offer to Purchase Preferred Stock

Strategic Hotels & Resorts, Inc. BEE today announced that it has commenced an offer 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, net to the seller in cash, less any applicable withholding taxes and without interest or accrued and unpaid dividends, (ii) 8.25% Series B Cumulative Redeemable Preferred Stock, $0.01 par value per share , at a purchase price of $26.50 per share, net to the seller in cash, less any applicable withholding taxes and without interest or accrued and unpaid dividends 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, net to the seller in cash, less any applicable withholding taxes and without interest or accrued and unpaid dividends. The Offers will expire at 5:00 p.m., New York City time, on December 7, 2011, unless the Offers (or any one of them) are extended or earlier terminated by the Company.