$150 mil Expansion and Improvement Program at Four Seasons, Dallas

Plans Underway for 40 New Guest Villas, 40 Four Seasons Luxury Residential Condominiums and Comprehe

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. October 14, 2008

DALLAS, TX, December 6, 2006. BentleyForbes, a national real estate investment firm, today announced plans for a property improvement and expansion program at the Four Seasons Resort and Club Dallas at Las Colinas. The overall program is expected to exceed more than $150 million in total consideration.

Plans feature the redesign of both the Resort's signature golf courses that host the annual PGA TOUR EDS Byron Nelson Championship, development of 40 new guest villas and 40 Four Seasons luxury residential condominiums and a comprehensive guestroom, lobby, sports club, restaurant and facility enhancement and expansion program throughout the entire Resort. These improvements will begin in phases during the next 18 months.

'Four Seasons Resort and Club Dallas at Las Colinas is a landmark property known for its luxurious accommodations and comprehensive guest amenities, including its competition golf courses and sport facilities,' said C. Frederick Wehba II, vice chairman and co-founder of BentleyForbes. 'BentleyForbes will dramatically enhance this landmark status through a significant expansion program valued at more than $150 million. Our plans feature the development of luxury residential units, more resort villas and a comprehensive refurbishment encompassing the Resort's championship golf courses, sports club, room interiors, restaurant offerings, lobby, common areas and pool facilities.'

Golf Course Improvements

As a first step following its acquisition of the Resort in September of 2006, BentleyForbes immediately moved forward with Four Seasons on strategic improvements to the Resort's Cottonwood Valley golf course, which will be complete prior to the upcoming 2007 EDS Byron Nelson Championship. A comprehensive redesign of the Resort's Tournament Players Course (TPC) golf course is planned, and will commence immediately following the completed 2007 event. All golf course improvements are being made under the guidance of noted golf course designers working in concert with PGA TOUR officials.

'The PGA TOUR is pleased with the plans put forward by BentleyForbes and Four Seasons to enhance Four Seasons Resort Dallas and its championship golf courses,' said Duke Butler, senior vice president of business affairs, PGA TOUR. 'We view this as long-term enhancement to the TOUR players and fans of the EDS Byron Nelson Championship.'

Four Seasons Resort and Club Dallas at Las Colinas Guest Amenity Improvements

BentleyForbes and Four Seasons have engaged noted architecture firms HKS, Inc. and Morrison, Seifert, Murphy to implement significant improvement plans to the overall Resort, including: the addition of 40 Resort Villas; complete refurbishment of all guestrooms, hallways and common areas featuring the addition of new flat screen TVs in each guestroom; comprehensive lobby renovations and expansion; major enhancements to the Sports Club facilities; installation of CAT6 Ethernet cable throughout the Resort for optimal technological connectivity; the expansion and renovation of existing restaurant facilities in tandem with the addition of an additional restaurant offering to service a new, landscaped designer pool that will be added to the Resort grounds adjacent to the new Villas.

Future Four Seasons Dallas at Las Colinas Residential Opportunities

BentleyForbes and Four Seasons have also moved forward with initial design plans for the development of 40 Four Seasons luxury condominium units as phase one of a long-term residential development plan that will feature 80 Four Seasons luxury condominiums in total. Final design and constructions timelines should be established by Q2 of 2007, and development is anticipated to commence before year end 2007.

Four Seasons Resort and Club Dallas at Las Colinas - The AAA Five Diamond Resort

'BentleyForbes and Four Seasons are committed to strengthening the world-class status of the Resort,' said Craig Reid, general manager and regional vice president, Four Seasons Resort Dallas. 'The plans that we have put forward will add to the overall product offering at the Resort and enrich the guest experience, improve the quality of the Resort's facilities, amenities and golf courses and provide a unique residential and lifestyle opportunity for the discerning buyer.'

Four Seasons Resort and Club Dallas at Las Colinas is situated on a 400-acre site among the rolling hills of North Texas and is minutes from downtown Dallas. The Resort offers a polished, residential-style interior, two 18-hole championship golf courses, the finest private sports club and spa in the area and more than 34,000 square feet of elegant function space. Currently, the Resort has 397 guest rooms, including 16 suites and 90 villa rooms, all of which offer a private balcony or patio overlooking the expansive landscaped grounds. The new villas will bring the room count to 437 rooms.

The award-winning Resort offers comprehensive golf facilities including a Tournament Players Course that will be redesigned by golf course architects approved by the PGA. An extensive practice facility, corporate golf school, professional instruction program and award-winning retail golf shop all set the stage for a memorable golf experience. The Resort is consistently ranked among the top golf resorts in the country by leading golf and travel publications including Cond'e Nast Traveler and Golf Magazine. The property also offers world-class tennis facilities and programming and is consistently ranked among the top tennis resorts in the country by Tennis Magazine.