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Fairmont Broadens Key Management Team

Fairmont Hotels & Resorts Inc. announced today a new
corporate position dedicated to maximizing the value of the Company’s
extensive owned real estate. Michael F. Glennie will become Executive Vice
President, Real Estate effective January 2005, reporting to William Fatt,
Fairmont’s CEO. “Fairmont’s unique portfolio of globally recognized hotel assets and
considerable undeveloped land merit a team member dedicated to ensuring
their full potential,” said Mr. Fatt. “This management addition
strengthens our capacity to extend the Fairmont brand by focussing on
three critical areas: operations, growth and asset maximization.”

Glennie’s illustrious 30-year career spans a diverse array of luxury
lodging projects and resorts, most recently as President and CEO of
Ripplewood Lodging and the Phoenix Resort companies, a hospitality
business focused on acquiring and operating hotels in Japan. Prior to
that, Glennie was employed by Boca Resorts, Inc. as President of the Boca
Raton Resort & Club, then Senior Vice President, Resort Operations.

“Michael’s combined history of financial and operating success at unique
real estate properties and his seasoned business acumen make him ideal for
this new role,” Mr. Fatt noted. Glennie has also held a variety of
management positions with RockResorts and served as Manager of New York’s
Waldorf-Astoria. He holds a Bachelor’s degree in Hotel Administration from
the University of Surrey in the United Kingdom.

Fairmont’s implementation of an Executive Vice President, Real Estate
extends key management strength. As President and Chief Operating Officer
Chris Cahill will continue to oversee the Company’s hotel management
operations. Tom Storey, Fairmont’s Executive Vice President, Development
is responsible for Fairmont’s growth strategy, including the Company’s
vacation ownership division and new business development.