PRNewswire New York Nov. 20 :

Temenos Anguilla, A St. Regis Retreat, is destined to be the Caribbean`s
most exclusive luxury destination. The 286-acre property features almost a
mile of oceanfront beaches; 20 Estate Homes and 16 Oceanfront villas,
serviced by a 97-room ultra-luxe hotel and spa; and Anguilla`s first
championship golf course. The plans were unveiled by owners Robert F.X.
Sillerman, Chairman & CEO of The Sillerman Companies and Paul Kanavos,
Chairman & CEO of Flag Luxury Properties alongside Barry Sternlicht,
Chairman & CEO Starwood Hotels & Resorts Worldwide, Inc.

Temenos Anguilla, a St. Regis Retreat will open in mid-2006 with a world-
class hotel, spa, and a limited number of extraordinary estates. It will
raise the bar, exceeding five-star standards, on ultra-luxe boutique
resorts. The Retreat will be remarkable for its architecture, design, and
one-of-a-kind amenities. Its exceptional, signature St. Regis service and
attention to detail will be enjoyed by hotel guests and estate owners
alike.
One of the key highlights of Temenos Anguilla is the Temenos Golf Club, an
18-hole championship golf course, the first on the island, scheduled to
open in 2005. The 7,200-yard championship golf course features
breathtaking water views from each hole and will integrate the natural
terrain of Anguilla to create a beautiful and challenging course for
players of all levels.

The Retreat`s setting on one of the last great 4,400-foot long beaches in
the Caribbean is magical not only for its sugar white sand, sparkling
turquoise waters and dazzling coral reefs, but for dramatic views of
neighboring St. Maarten.
Temenos, the Greek word for “sanctuary,” is an expansion of the ultra-
luxurious three-villa resort by the same name which, in just its first
year of operation, became one of the hottest destinations in the Caribbean
for affluent travelers. Temenos was rated the #1 best resort in the
Caribbean by Conde Nast Traveler, one of the Top Ten Resorts in the World
by The Robb Report, and was featured in such other prestigious magazines
as Architectural Digest, Town & Country, and Departures.

“This new venture with St. Regis Hotels & Resorts is groundbreaking,” said
Sillerman. “The extraordinary success of the Temenos villas provided us
with a rare opportunity to offer the most luxurious residential and
leisure experience not only on the island of Anguilla, and in the
Caribbean, but perhaps anywhere in the world.”

“This resort will be the jewel of the Caribbean and beyond and will
attract the world`s most elite travelers,” said Sternlicht. “I can not
imagine a more stunning way to debut the St. Regis brand in the Caribbean.”

The new 4,500 to 5,500-square foot Temenos Estates will reflect the Greek
Mediterranean design, with soaring ceilings, floor-to-ceiling windows, and
the finest in fixtures and finishes inspired by the original villas. Each
four- and five-bedroom Estate will possess the luxurious components,
including private swimming pools, which will allow owners their own
particular vision of paradise.
“Natural dune formations, dramatic elevation changes and spectacular
vistas of St. Maarten and the Caribbean Sea are key elements in our design
concept,” says the designer, Greg Norman, (the owner of Great White Shark
Enterprises). “When combined with the exclusive location of the property,
the golf course is sure to be world-class,” Norman says.

Flag Luxury Properties, LLC headquartered in New York City, owns and
develops hotel, residential, and retail projects in North America. Founded
in 1946 by Peter J. Kanavos Sr., the Flag Group of Companies has developed
over $4 billion worth of assets, including some of the first Marriott and
Holiday Inns Hotels; Intercontinental Hotel Athens, Greece; The Sheraton
Hotel Brussels, Belgium; and the Trade Fair Hotel, Lagos, Nigeria. Paul
Kanavos, Chairman and CEO, and Jonathan Stern, President, continue this
legacy of excellence and dedication with a successful model for
identifying, acquiring, branding, and developing world-class luxury real
estate assets. Through innovative financing, strategic partnerships and
distinctive architectural execution, Flag Luxury is on the cutting edge of
today`s real estate industry. Current projects include The Ritz-Carlton,
South Beach; The Ritz-Carlton Golf Club & Spa, Jupiter; The Hawaiian
Marketplace, on the Las Vegas Strip; Ferry Point Park Golf and Conference
Center, New York City, and Temenos Anguilla, A St. Regis Retreat.

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