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BANYAN TREE IN JOINT VENTURE WITH TOP MEXICAN VINEYARD TO BUILD ITS FIFTH RESORT IN MEXICO

   

SINGAPORE, 09 May 2007 – Singapore Main-Board listed Banyan Tree Holdings Limited (“Banyan Tree” or the “Group”), leading developer, designer and operator of top-tier hotels, resorts, spas and galleries worldwide, today announced it has entered into a joint venture agreement with one of Mexico’s most decorated winemakers, Monte Xanic, to build an exclusive vineyard resort in Mexico.

Banyan Tree will take up minority equity of approximately 20% in the joint venture and will participate in the architectural and interior design of the resort. When completed, the vineyard resort will be managed by Banyan Tree. It will be the first luxury spa and resort of its kind in Valle de Guadalupe, Baja California, one of Mexico’s oldest and most premier wine regions.

The site earmarked for the joint project is nestled in the hills on land owned by Monte Xanic, which also encompasses its sprawling vineyards and winery. The region is a two-hour scenic drive from San Diego, USA. Measuring seven hectares, the resort will be set on prime hillside land affording breathtaking views of the entire property and valley site. At 396 metres above sea level and 16 kilometres from the Pacific Coast, the region boasts of the ideal Mediterranean climate. The resort is expected to feature some 40 luxurious pool villas.

The project marks Banyan Tree’s fifth development in Mexico, following Acapulco, Riviera Maya, Los Cabos and Chamela. Its first resorts in Mexico, Banyan Tree Mayakoba in Riviera Maya and Banyan Tree Punte Diamante in Acapulco are expected to be launched next year. Both Banyan Tree and Monte Xanic are regarded as pioneers and leaders in their respective industries – Banyan Tree for its signature spa resort sanctuaries and Monte Xanic for its production of top quality wines in Mexico. Both parties believe the joint venture will help build brand equity for their businesses.

This project is not expected to have any material financial impact on the Group’s earnings and its net tangible assets for 2007.

   
   
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    About Banyan Tree Hotels & Resorts
Banyan Tree Holdings Limited (“Banyan Tree” or the “Group”) is a leading manager and developer of premium resorts, hotels and spas in the Asia Pacific, with 21 resorts and hotels, 58 spas, 68 galleries and two golf courses. The Group manages and/or has ownership interests in niche resorts and hotels. The resorts each typically has between 50 and 100 rooms and commands room rates at the high end of each property’s particular market.

Banyan Tree has six operating business segments: hotel investment, hotel management, spa operations, gallery operations, property sales, design fees and others (design and project management, golf course operations and other businesses).

The Group’s primary business is the management, development and ownership of resorts and hotels. This is centered on two award-winning brands: Banyan Tree and Angsana, of which the latter includes the Colours of Angsana product line. Banyan Tree also operates the leading integrated resort in Thailand – Laguna Phuket, through the Group’s subsidiary, Laguna Resorts & Hotels Public Company Limited.

As a leading operator of spas in the Asia Pacific, Banyan Tree’s spas are one of the key features in their resorts and hotels. Banyan Tree galleries, which complement their resorts, hotels and spas, help to extend the reach and scope of their brands.

Since the launch of the first Banyan Tree resort, Banyan Tree Phuket, in 1994, Banyan Tree has received over 300 awards and accolades for the resorts, hotels and spas that the Group manages. The Group has also received recognition for its commitment to environmental protection and emphasis on corporate social responsibility.

DBS Bank Ltd and UBS AG, acting through its business group, UBS Investment Bank, were the joint global co-ordinators and bookrunners of the initial public offering of the shares in Banyan Tree Holdings Limited.

About Monte Xanic
Monte Xanic was founded in 1987 and considered a leader in Mexico’s wine industry. It prides itself on being the most modern and advanced wine producer in the country investing the necessary resources to maintain the excellent quality of its wine production every year. Monte Xanic produces 50, 000 cases of wine annually, distributed to exclusive markets throughout the world, under three labels, Monte Xanic, Calixa and Gran Ricardo. Its wines have been awarded gold, silver and bronze medals in the United States, France and Canada.


   
       
         
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