Normal Course Share Purchases And Redemption Of Debentures By Four Seasons Hotels Inc.

Four Seasons Hotels Inc. (TSE Symbol “FSH”; NYSE Symbol
“FS”) today announced that The Toronto Stock Exchange has accepted the Company’s notice of intention
to make normal course purchases of up to an aggregate of 1,548,140 (approximately to 5%) of its 30,962,808
Limited Voting Shares currently outstanding, commencing October 11, 2001, over the next 12 months. A
similar notice has been filed with provincial securities regulators in respect of purchases that may be made
through the facilities of the New York Stock Exchange. The purchases may be effected by Four Seasons from
time to time through the facilities of the Toronto and New York exchanges at market prices and in accordance
with the requirements of the Exchanges and applicable Canadian and United States securities laws. Scotia
Capital will be the dealer through which Four Seasons will make any purchases.
Four Seasons Hotels Inc. (TSE Symbol “FSH”; NYSE Symbol
“FS”) today announced that The Toronto Stock Exchange has accepted the Company’s notice of intention
to make normal course purchases of up to an aggregate of 1,548,140 (approximately to 5%) of its 30,962,808
Limited Voting Shares currently outstanding, commencing October 11, 2001, over the next 12 months. A
similar notice has been filed with provincial securities regulators in respect of purchases that may be made
through the facilities of the New York Stock Exchange. The purchases may be effected by Four Seasons from
time to time through the facilities of the Toronto and New York exchanges at market prices and in accordance
with the requirements of the Exchanges and applicable Canadian and United States securities laws. Scotia
Capital will be the dealer through which Four Seasons will make any purchases.
The Company also announced today that it will be redeeming, effective November 14, 2001, all of its $100
million 6% debentures due July 2, 2002 in accordance with their terms for an aggregate redemption price of
$102,118,820, plus accrued and unpaid interest to (but excluding) the date of redemption. The redemption
of the Debentures will be funded from existing cash balances.
“After the repayment of the Debentures our only remaining long-term debt is zero coupon convertible debt
with an ultimate maturity date of 2029. By year end, we expect our cash reserves to exceed $200 million.
We also have available US$200 million of committed and unutilized bank facilities. We believe that our strong
balance sheet will continue to support the Company’s on-going business and growth strategy,” said Douglas
L. Ludwig.
Four Seasons is in the midst of the largest expansion ever of its hotel and resort and branded residential
portfolio, with planned openings of 23 new hotels in an additional 11 countries. The newest addition is Four
Seasons Hotel San Francisco, which opened on October 3, 2001.
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