RGR ACQUIRES BNNA BORAN RESORT IN CHIANG RAI

Bangkok--Apr 5--ROYAL GARDEN Mr. William E. Heinecke, the Chairman of RGR and M.L. Tridhosyuth Devakul, the chairman of Baan Boran Chiang Rai Co.Ltd. today announced that RGR has signed a sale and purchase agreement to purchase 100% of the shares of Baan Boran Chiang Rai Co.Ltd. which owns the 110 room Baan Resort in Chiang Rai The Baan Boran Resort was Launched in 1991 by M.L. Tridhosyuth Devakul with a focus on providing a unique resort experience based on respecting and understanding Thailand's rich environmental heritage. M.L. Tridhosyuth Devakul noted that "the original mission of Baan Boran remains unchanged. I am pleased that RGR is equally committed to furthering the work which we had pioneered and look forward to working with the Board in this regard". Mr. Heinecke added that "The addition of the Baan Boran Resort in Chiang Rai will complement our existing portfolio of leading resort and city hotels in all of Thailand's major destinations. We are also grateful that M.L. Tridhosyuth Devakul will remain on the resort's Board of Directors to provide his counsel to the resort's operations." Royal Garden Resorts is one of Thailand's leading owners and managers of resort hotels. The company's portfolio includes seven hotels with over 1,760 rooms under the Marriott, Regent, Anantara, Baan Boran and Royal Garden brands in both Thailand and Vietnam. RGR also owns and operates two shopping plazas in both Thailand and Vietnam. RGR also owns and operated two shopping plazas in Pattaya and Bangkok, and an entertainment division built around two Ripley's Believe It or Not Museums in Pattaya and Hongkong. The company also owns and operates 10 luxury spas in Thailand and Manohra Cruises, a luxury Chao Phaya River boat operator. End. -ST-

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