TORONTO, Jun 10, 2002 /PRNewswire-FirstCall via COMTEX/—Fairmont Hotels & Resorts Inc. (“FHR”)(TSE/NYSE: FHR) is pleased to announce the appointment of Michael J. Kowalski, President and Chief Executive Officer of Tiffany & Co. based in New York, to FHR`s Board of Directors.
Mr. Kowalski was appointed President of Tiffany & Co. in January 1996 and assumed the role of Chief Executive Officer in February 1999. He has been a member of Tiffany & Co.`s Board of Directors since January 1995.
Prior to his current role, Mr. Kowalski served as Chief Operating Officer and Executive Vice President of the company, a position he assumed in 1992. As Executive Vice President, he was responsible for the overall management and direction of the Merchandising, Design, Marketing and Public Relations divisions. Mr. Kowalski joined Tiffany & Co. in 1983 as Director of Planning and served as Vice President of Merchandising Administration before being appointed Group Vice President of Merchandising in 1985. He came to Tiffany & Co. from Avon Products Inc., where he held several financial management positions.

Mr. Kowalski earned a bachelor`s degree in economics from the University of Pennsylvania and a master`s degree in business administration from Harvard University.

FHR is one of North America`s leading owner/operators of luxury hotels and resorts. FHR`s portfolio consists of 77 luxury and first class properties with approximately 31,000 rooms in Canada, the United States, Mexico, Bermuda, Barbados and the United Arab Emirates. It holds a 67 percent controlling interest in Fairmont Hotels & Resorts (“Fairmont”), North America`s largest luxury hotel management company. Fairmont manages 38 distinct city center and resort hotels such as The Fairmont San Francisco, The Fairmont Banff Springs, Fairmont Le Chateau Frontenac, The Fairmont Scottsdale Princess and The Plaza in New York City. FHR also holds a 100 percent interest in Delta Hotels, Canada`s largest first class hotel management company, which manages and franchises a portfolio of 39 city center and resort properties in Canada. In addition to hotel management, FHR holds real estate interests in 21 properties, two large undeveloped land blocks and an approximate 35 percent investment interest in Legacy Hotels Real Estate Investment Trust, which owns 21 properties.
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