12th & MIDTOWN TAKES GIANT STEP FORWARD

ATLANTA (September 14, 2007) — The 12th & Midtown development team, which includes Daniel Corporation, Selig Enterprises and MetLife, today announce that Loews Hotels will join the second phase of this landmark Midtown Atlanta mixed-use development. Today’s announcement further illustrates the momentum of this $2 billion project, which is the largest contributor to the Midtown Mile.

Construction for the second phase of the development, located at 1075 Peachtree Street, is underway. This phase is a $500-million development that will showcase a 725,000-square-foot Class A office tower, more than 60,000 square feet of flagship retail space, the new 414-room Loews Atlanta Hotel and 60 luxury residences.

“We are thrilled by the momentum of 12th & Midtown,” said Charlie Tickle, chairman and chief executive officer for Daniel Corp. “Our vision to deliver a premium in-town experience combined with Loews’ reputation in the luxury travel market made the Loews Hotels brand our top choice for a hotel partner.”

Scheduled to open in April 2010, the Loews Atlanta Hotel will feature 414 luxurious guestrooms, fitness center and spa services, signature restaurant, lobby bar, and more than 24,000 square feet of meeting space. As with other Loews hotels and resorts, the Loews Atlanta Hotel will introduce the company’s range of branded services and amenities, which exceed AAA’s Four Diamond standards to delight guests with a supremely comfortable, uniquely local and vibrant travel experience.

“12th & Midtown is creating the type of vibrant community that’s a perfect fit for the Loews brand: easy elegance,” said Jonathan Tisch, CEO of Loews Hotels. “This project is the ideal next step in our growth plan. In more than two years of market research with our guests, Atlanta was consistently among the places where our customers would most like to see a Loews Hotel.”