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Press Release

Bill Barnett Launches C9 Hotelworks in Phuket:

(Immediate Release – October 2003) - Veteran Asia Hotelier Bill Barnett has formed C9 Hotelworks, a Phuket
based firm specializing in asset management and hospitality consulting. Formerly Deputy Managing Director of
Laguna Resorts & Hotels with 18 years in the region Barnett says “there is currently a building boom in the
rapidly expanding tourism and residential sector in Phuket, Ko Samui, Krabi and Khao Lak. Owners and
developers entering these markets are rapidly seeking professional and experienced advice on how to maximize the returns and add value to bottom line results.” C9 Hotelworks has already secured a client base which includes two new resorts, and three mixed use developments located within Thailand.

Bill Barnett was previously Chief Operating Officer of Millennium & Copthorne Hotels Asia Pacific and before that
spent 9 years in senior executive roles with Century International Hotels in Hong Kong. His asset management
experience includes properties managed by Four Seasons, Regent, Ritz Carlton, Grand Hyatt, Westin and
Hilton. Joining him in the new venture is Michael Cowan who has extensive Asian experience and has worked
with Banyan Tree, Hyatt and Renaissance.

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