WHITE PLAINS, N.Y., April 6th - - In the heart of the world's entertainment capital, towering high above the city, stands a landmark hotel devoted to the pursuit of grace, style and timeless elegance. This Westside landmark will be reintroduced in the fall, as The St. Regis, Los Angeles. The hotel, currently known as The Westin Century Plaza Tower, brings to eight the number of St. Regis hotels.

The announcement was made today by Starwood Hotels & Resorts in conjunction with Pivotal Century Plaza Hotel, LLC, which acquired the Century Plaza and Tower in February 1999. Plans currently are underway to recreate the entire property. Upon completion in the fall, the result will be two completely new hotels: The St. Regis, Los Angeles, and the Century Plaza managed by Westin.

Currently there are nine St. Regis hotels, all named for the world-famous New York City landmark, including Aspen, Beijing, Houston, Los Angeles, Rome and Washington, D.C. In addition, Starwood has announced plans for The St. Regis, Shanghai and The St. Regis, Monarch Beach in California; both are scheduled to open next year.

The 297-room St. Regis, Los Angeles will offer travelers a new, luxurious, world-class destination in West Los Angeles. Under the direction of general manager, Wolf Walther, The St. Regis, Los Angeles will offer a guest experience unique to St. Regis hotels, including soft-spoken luxury, understated elegance, gracious service and a discreet sense of exclusive privacy throughout the stay.

Plans for the design of The St. Regis, Los Angeles include an elegant new entrance and lobby, spacious guest rooms with spectacular views of the ocean or the Hollywood Hills, and an expanded swimming pool area with sun decks and private cabanas. And, in response to guests' desire for a refuge from their fast-paced lifestyles, a full-service spa designed to relax and revitalize will provide a quiet retreat and service beyond pampering. The spa will offer nine treatment rooms and an adjoining fitness room that overlooks the pool and features panoramic views of the ocean.

The St. Regis, Los Angeles' 297 sumptuous guest rooms will include not only the most luxurious in decor dominated by soft tones of golds, yellows and browns, but also state-of-the-art technology to offer the ultimate guest room experience. Electronic controls in the bedside telephone console will offer guests the ability to control most equipment in the room, including the television, DVD player, CD player, surround sound, lighting, and air conditioning. The system will be programmable for seven foreign languages as well. All rooms will offer high-speed Internet access, a laptop safe that provides battery charging, a fax/copier/printer and cordless dual-line telephone.

Additional plans include a signature restaurant for The St. Regis, Los Angeles. A stylish bar, designed in the tradition of the famous King Cole Bar in The St. Regis in New York City, with a separate entrance will be tucked into the lobby providing an intimate and opulent haven.

Boardrooms and function space also will be completed with the most advanced business technology available, along with the finest in luxurious furnishings and appointments necessary for the highest level meetings and deal making.

The adjoining Century Plaza managed by Westin also will be renovated, with its debut scheduled for later in 2000. The new Century Plaza managed by Westin will feature new meeting rooms, a dramatic new entrance and lobby, a new signature restaurant and café, newly landscaped pool, gardens and grounds, and a 30,000 square-foot destination day spa.

Pivotal Century Plaza Hotel, LLC is a real estate partnership comprised by three prominent firms: Pivotal Group, DMB and AEW Partners.

Reservations may be made through the worldwide Luxury Collection Reservations offices, reachable toll-free in 34 countries (1-800-325-3589 in the U.S. or Canada). Corporate customers will have the benefit of The Luxury Collection's easily accessible global sales office; and travel agents may now book reservations using all of the latest technology, including direct connections to all global distribution systems. Reservations also may be made by visiting the worldwide web site www.luxurycollection.com .

Starwood Hotels & Resorts Worldwide, Inc., through its St. Regis, Luxury Collection, Westin, Sheraton, Four Points and W brands, is one of the leading hotel and leisure companies in the world with more than 700 hotels in 80 countries and 120,000 employees at its owned and managed properties.

For more information about Pivotal Private Equity, visit www.pivotalgroup.com