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Beth Ridenour / Jacqueline Ader-Grob
The Ritz-Carlton Club
407.513.6671 / 407.513.6950
beth.ridenour@ritzcarltonclub.com / jacqueline.ader-grob@ritzcarltonclub.com

December 21, 2006

Reservations Begin For the Ritz-Carlton’s Fractional Real Estate Offering on Miami Beach


First Fractional Ownership Property in Aspen Remains Standard Bearer for Emerging Industry

MIAMI BEACH, FL – December 21, 2006 – The Ritz-Carlton Club and Residences, South Beach is now accepting reservations for its fractional ownership residences. Scheduled for occupancy in late 2009, all 45 fractional Club residences will be located in the former, oceanfront Seville Beach Hotel building located at 2901 Collins Avenue. The building will undergo a historic restoration, and two new towers also will be constructed to house the 86 private Residences, for which sales are currently underway.


The Ritz-Carlton Club provides a new and compelling option for those who seek maintenance-free home ownership, complemented by the legendary, personalized services and amenities of The Ritz-Carlton Hotel Company – and all within the excitement of South Beach. Full access to the residential development will be offered exclusively to Residents, Club Members and their guests.


Consisting of spacious one-, two- and three-bedroom floor plans, each Club residence entitles Members to a one-twelfth, deeded interest priced from the $100,000s to just over $500,000. Members enjoy Ritz-Carlton service excellence with twice-daily housekeeping, personal storage, grocery shopping, private chef services, in-residence gourmet dining and a dedicated concierge team that offers pre-arrival provisioning of the Club residences.


“Whether purchasing fractional or wholly-owned residences, The Ritz-Carlton Club and Residences, South Beach offers the intimacy and comforts of home, coupled with first-class services and amenities,” said Scott Oldakowski, director of sales and marketing for The Ritz-Carlton Club and Residences, South Beach. “It is exciting to be the first luxury hotelier to bring this fractional ownership lifestyle to the Miami market.”


Each Club residence, ranging from just over 1,100 square feet to 2,100 square feet, will feature magnificent ocean and city views, with some offering expansive terraces. Each residence will feature fully-equipped kitchens with the finest appliances, beautifully-appointed room finishes and furnishings, including Italian cabinetry, kitchen appliances from Sub-Zero and Miele, and flat screen, LCD televisions by LG.


The oceanfront property will also boast a signature restaurant, state-of-the-art fitness facility and full-service Ritz-Carlton Spa, Ritz Kids program, and a beachfront experience complete with three swimming pools, three whirlpool spas, cabanas and a pool bar.


Through reciprocal use benefits, Members may visit other Ritz-Carlton Clubs including Aspen Highlands and Bachelor Gulch, Colo.; Jupiter, Fla.; St. Thomas, U.S. Virgin Islands; San Francisco, Calif. (opening 2007); Kapalua Bay, Hawaii (opening 2008); Lake Tahoe, Calif. (opening 2009); and Kauai Lagoons, Hawaii (opening 2009). Members may also reserve additional time on a nightly basis as available. Furthermore, Members can enjoy benefits at Ritz-Carlton hotels and resorts worldwide.


A joint-venture partnership between Miami-based companies Lionstone Development and Fortune International was formed to develop the project. The Ritz-Carlton Hotel Company, the recognized leader in luxury and service, will serve as management for the property.


Construction for The Ritz-Carlton Club and Residences, South Beach is slated to begin in mid 2007. A sales gallery is now open at The Ritz-Carlton, South Beach, located at One Lincoln Road. For more information, please visit www.rcc-southbeach.com or call 305.672.0612


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The Ritz-Carlton Club
The Ritz-Carlton Club is a deeded, fractional ownership real estate offering combining the benefits of second home ownership with personalized Ritz-Carlton services and amenities. Designed as a private club, Members have the opportunity to access their Club or other Ritz-Carlton Clubs. For information, please visit www.ritzcarltonrealestate.com.


Lionstone Development
Lionstone Development owns, develops and manages a diversified portfolio of residential and hospitality ventures throughout South Florida, the Caribbean and Central America. The company has amassed an impressive portfolio of luxury resort and residential developments with leading hotel industry partners which includes The Ritz-Carlton, South Beach, Hilton Curaçao Resort & Casino and Breezes Curaçao. In addition, Lionstone has several new projects under development including The Ritz-Carlton Club and Residences, South Beach, The St. Regis Hotel & Residences, Costa Rica and EPIC Residences & Hotel, a luxury residential tower and hotel in downtown Miami. For more information, visit www.lionstone.net.


Fortune International
South Florida’s foremost full-service real estate development and brokerage firm, Fortune specializes in developing, sales/marketing, construction management and hospitality for ultra-luxury properties. The company has 17 offices in South Florida and subsidiaries throughout Latin America. Fortune’s hospitality division is currently in partnership with such prestigious brands as The Ritz-Carlton, Sonesta, and Le Meridien. For more information, please call 305.351.1000 or visit www.fortune-network.com.


Fortune International
Since 1983, Fortune International has continually raised the bar in South Florida with innovation and luxury in the development of high-end residential real estate. Led by founder Edgardo Defortuna, Fortune International is considered one of the region’s leading developers for its exclusive and distinctive properties, designed by world-class architects. The company has partnered on several of its development projects with the most accomplished global industry leaders including Le Meridien, Starwood Hotels & Resorts, The Ritz-Carlton Hotel Company, Sonesta Resorts, and Lionstone Development. In addition to co-developing The Ritz-Carlton Club and Residences, South Beach, Fortune International developments include Jade Residences at Brickell Bay, Jade Beach, Jade Ocean, Le Meridien Sunny Isles Beach, and more. Fortune’s sales presence is unrivaled with more than 850 of its own realtors in 17 offices from Key Biscayne to Weston, and international affiliates around the world. For more information, please call 305.351.1000 or visit www.fortune-network.com.