THE RITZ-CARLTON CLUB ENTERS INTO STRATEGIC ALLIANCE WITH MARQUIS JET PARTNERS

ORLANDO, Florida
February 11, 2003

First Private Residence Club to Offer Members Access to Marquis Private Jet Program with Fleet Provided by NetJets

ORLANDO – The Ritz-Carlton Club, the finest in fractional second home ownership, has forged a strategic alliance with Marquis Jet Partners, Inc., the leading provider of short-term leases of fractional interests in private jet aircraft, which are sold on a pre-paid basis in single-year, 25-hour increments. This agreement presents Members with a convenient and affordable entry into private aviation, and reinforces The Ritz-Carlton Club’s commitment to providing Members with exceptional services that befit their lifestyle.

NetJets, the pioneer and worldwide leader in fractional aircraft ownership, provides and operates the Marquis Jet fleet through an exclusive alliance between the two companies. The NetJets fleet of more than 500 of the youngest and most modern aircraft, is considered the largest and safest private jet fleet.

“This is an exciting program for The Ritz-Carlton Club and our Members,”said Bob Phillips, vice president, business development.“Through personal relationships with our Members, we recognize their desire for a premier private jet provider. Therefore, we are proud to introduce this enhancement, as our Members will certainly benefit from the unparalleled expertise and flexibility offered by Marquis Jet Partners.”

The Ritz-Carlton Club Marquis Jet Program offers two options to Members:

The Ritz-Carlton Club Marquis Jet Platinum Program

• Minimum purchase of 25 hours of occupied flight time
• Guaranteed on-call aircraft availability 365 days a year at airports in North America and Europe

The Ritz-Carlton Club Marquis Jet Gold Program

• Membership fee allows Members to purchase an unlimited number of private jet hours per year for travel to and from The Ritz-Carlton Club area airports
• Guaranteed on-call aircraft availability, 365 days a year

The Ritz-Carlton Club Members have a choice of nine different aircraft types. Members may also request an aircraft exchange for a larger or smaller private jet.

“The Ritz-Carlton Club represents the standard of excellence in fractional second home ownership,”said Ken Austin, executive vice president of Marquis Jet Partners.“The Members will accept nothing less than the finest, and we are confident Marquis Jet Partners will serve as an extension of and complement to The Ritz-Carlton Club experience.”