Loews Hotels & Resorts and DRW Trading Group Hold Ceremonial Groundbreaking for Loews Chicago Hotel

  Loews Hotels & Resorts and DRW Trading Group Hold Ceremonial Groundbreaking
  for Loews Chicago Hotel

Business Wire

NEW YORK -- March 1, 2013

Loews Hotels & Resorts, a wholly owned-subsidiary of Loews Corporation (NYSE:
L), today held a ceremonial groundbreaking in Chicago on the site where the
company will open the Loews Chicago Hotel in 2015.

Jonathan M. Tisch, Chairman of Loews Hotels & Resorts and President and CEO of
Loews Hotels & Resorts, Paul Whetsell were joined by Donald R. Wilson, Jr.,
Founder and CEO of DRW Trading Group (DRW) and the Honorable Mayor of Chicago
Rahm Emanuel at the ceremony.

“Today marks a special day as we officially break ground on the Loews Chicago
Hotel and become a member of this community,” said Jonathan Tisch. “This
property, once completed, will be a wonderful addition to our portfolio and
the Chicago skyline!”

“Even with Chicago’s hotel occupancy at a record high last year, companies
continue to build more hotel stock as more and more tourists, business
travelers and conventions are flocking to Chicago,” said Mayor Emanuel. “I am
pleased to see this hotel rise from the ground, creating hundreds of jobs, and
setting up Chicago to continue its growth as one of the premiere destinations
in the entire United States.”

Currently being developed by DRW and designed by the architectural firm
Solomon Cordwell Buenz, the Loews Chicago Hotel will feature 400 guestrooms,
including 36 suites, a signature restaurant, more than 25,000 square feet of
innovative meeting space, multiple outdoor terraces, a spa/fitness center and
an outdoor rooftop including a pool overlooking the city. The hotel will be
part of a highly visible 52-story tower comprised of the Loews Chicago Hotel
and 398 luxury residential apartments.

“We are excited to partner with Loews in designing and delivering a hotel and
residential product. The apartment and hotel combination will be a benefit to
one another; offering amenities to residents that set us apart from the
current market,” said Donald R. Wilson, Jr.

The addition of the Chicago property is part of the company’s strategy to add
substantially to its portfolio of hotels over the next five years. Loews
Hotels & Resorts continues to seek hotel additions in gateway cities and
resort destinations and anticipates announcing additional Loews properties in
the coming months.

About Loews Hotels & Resorts

Headquartered in New York City, Loews Hotels & Resorts owns and/or operates 19
hotels and resorts in the U.S. and Canada including the newly acquired Loews
Madison Hotel located in the heart of Washington at the epicenter of legendary
D.C. landmarks and the Loews Boston Back Bay Hotel, one of Boston’s preeminent
historic buildings, situated on the corner of Berkeley and Stuart Streets.
Located in major city centers and resort destinations in North America from
coast to coast, the Loews portfolio features one-of-a-kind properties that go
beyond Four Diamond standards to delight guests with a supremely comfortable,
uniquely local and vibrant travel experience. For reservations or more
information about Loews Hotels & Resorts, call 1-800-23-LOEWS or visit:
www.loewshotels.com.

Like Loews Hotels & Resorts on Facebook: www.facebook.com/LoewsHotels
Follow Loews Hotels & Resorts on Twitter: www.twitter.com/loews_hotels
Watch Loews Hotels & Resorts on YouTube: www.youtube.com/LoewsHotels

About DRW Trading Group

DRW Holdings was founded in 1992 by Donald R. Wilson, Jr., as a proprietary
trading firm specializing in market-making. The firm has grown by empowering a
team of exceptional individuals to identity and capture trading opportunities
in the global markets by leveraging and integrating technology, risk
management and quantitative research. Since its founding, Mr. Wilson has added
10 partners and currently has over 500 employees with headquarters in Chicago
and offices in New York and London. DRW created its real estate Group in 2009
to take advantage of opportunistic investments when developers were unable to
raise capital from lenders or traditional sources of financing. DRW is
committed to making real estate a key component of its expanding portfolio of
fundamental investments.

Contact:

Loews Hotels & Resorts
Lark-Marie Anton, 212-521-2779
lanton@loewshotels.com
or
Sarah Murov, 212-521-2495
smurov@loewshotels.com
or
Sunshine Sachs
Jaclyn Rutigliano, 212-691-2800
rutigliano@sunshinesachs.com