Strategic Hotels & Resorts, Inc. Extends Shareholder Rights Plan

       Strategic Hotels & Resorts, Inc. Extends Shareholder Rights Plan

PR Newswire

CHICAGO, Nov. 12, 2012

CHICAGO , Nov. 12, 2012 /PRNewswire/ -- Strategic Hotels & Resorts, Inc.
(NYSE: BEE) today announced that it has amended its existing shareholder
rights plan to extend the expiration date for an additional 12 months. The
rights plan, which was originally adopted in November 2008 and was set to
expire on November 30, 2012, will now expire on November 30, 2013, unless the
rights issued thereunder are earlier redeemed or amended by the Board of
Directors. In addition, the rights plan was amended to revise the definition
of beneficial ownership to include derivative instruments.

Following a careful review of the rights plan in consultation with Strategic
Hotels' outside advisors, the Board of Directors approved these amendments in
order to continue to protect the interests of Strategic Hotels' shareholders,
in particular in light of continual equity market fluctuations and lingering
economic uncertainty. The rights plan does not prevent the Board of Directors
from considering or recommending any offer it considers to be in the best
interests of shareholders.

The amendment to the rights plan is effective as of the close of business on
November 12, 2012. The full text of the amendment to the rights plan will be
filed by the Company with the Securities and Exchange Commission on a Form

About Strategic Hotels & Resorts, Inc.
Strategic Hotels & Resorts, Inc. is a real estate investment trust (REIT)
which owns and provides value-enhancing asset management of high-end hotels
and resorts in the United States, Mexico and Europe. The Company currently has
ownership interests in 18 properties with an aggregate of 8,271 rooms and
851,600 square feet of multi-purpose meeting and banqueting space. For a list
of current properties and for further information, please visit

This press release contains forward-looking statements about Strategic Hotels
& Resorts, Inc. (the "Company"). Except for historical information, the
matters discussed in this press release are forward-looking statements subject
to certain risks and uncertainties. Actual results could differ materially
from the Company's projections. Factors that may contribute to these
differences include, but are not limited to the following: ability to obtain,
refinance or restructure debt or comply with covenants contained in our debt
facilities; volatility in equity or debt markets; availability of capital;
rising interest rates and operating costs; rising insurance premiums; cash
available for capital expenditures; competition; demand for hotel rooms in our
current and proposed market areas; economic conditions generally and in the
real estate market specifically, including deterioration of economic
conditions and the extent of its effect on business and leisure travel and the
lodging industry; ability to dispose of existing properties in a manner
consistent with our disposition strategy; delays in construction and
development; demand for hotel condominiums; the failure of closing conditions
to be satisfied; risks related to natural disasters; the effect of threats of
terrorism and increased security precautions on travel patterns and hotel
bookings; the outbreak of hostilities and international political instability;
legislative or regulatory changes, including changes to laws governing the
taxation of REITs; and changes in generally accepted accounting principles,
policies and guidelines applicable to REITs.

Additional risks are discussed in the Company's filings with the Securities
and Exchange Commission, including those appearing under the heading "Item 1A.
Risk Factors" in the Company's most recent annual report on Form 10-K and
subsequent quarterly reports on Form 10-Q. Although the Company believes the
expectations reflected in such forward-looking statements are based on
reasonable assumptions, it can give no assurance that its expectations will be
attained. The forward-looking statements are made as of the date of this press
release, and we undertake no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information, future
events or otherwise, except as required by law.

SOURCE Strategic Hotels & Resorts, Inc.

Contact: Diane Morefield, EVP & Chief Financial Officer, Strategic Hotels &
Resorts, +1-312-658-5740, or Jon Stanner, VP Capital Markets & Treasurer,
Strategic Hotels & Resorts, +1-312-658-5746
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