Feb. 22, 2000 the signing ceremony, in Grand Ballroom, Ritz Carlton Seoul

Feb. 22, 2000 - Ramada International Hotels & Resorts has signed an agreement with AT Hotels Management, a Korean hotel development and management company, under which AT Hotels Management will pursue and refer franchise opportunities for Ramada International in South Korea.

Ramada International Hotels & Resorts are positioned for the moderately priced lodging tier and offer guests "Everything Except Excess." The brand features four categories of hotels: Plaza, Resort, Hotel and Limited-Service. Two categories are included in the agreement with AT Hotels Management: Hotel and Limited-Service.

"We are delighted to be working with such a respected and knowledgeable partner in South Korea," said Reas Kondraschow, managing director and senior vice president for Ramada International Hotels & Resorts. "We are confident that the Ramada International brand will be successful in South Korea. The time is right for a hotel brand that has the consistency of a mass market-oriented brand but yet understands that guests want a unique experience in their hotel stay. We look forward to a mutually beneficial relationship with AT Hotels Management."

The four categories of Ramada International Hotels & Resorts consist of the following:

¨ Plaza - positioned as the upper tier for Ramada International Hotels & Resorts. Plaza Hotels will generally feature more amenities than the standard Ramada International hotel and offer a variety of restaurants and lounges, a health club and larger guestrooms. They will be located in key gateway cities and central business districts.

¨ Resort - Designed for longer-stay leisure travelers, with all the appropriate amenities and facilities.

¨ Hotel - Positioned for the moderate-tier and located in business and leisure destinations. Each hotel will have approximately 150-250 guestrooms and will offer core amenities that business travelers expect.

¨ Limited-Service - Its concept is based on lifestyle and guest comfort experience and expectations throughout the global market and features contemporary signature items. A multifunctional all-day space, "The Hub," will offer a premier coffee shop and bar atmosphere that serves as an informal gathering place at each property.

Each of these four categories are guided by five core components of guest satisfaction:

¨ The Guestroom - has the right mattress and pillow for a restful sleep, quality linens, and pleasing decor that is well lit and comfortable; rooms are inviting and casual. Rooms have dataports and adequate electrical outlets, proper lighting and a work area that allows business travelers to maximize their work time rather than spending time understanding and arranging their workspace.

¨ The Guest Bath - is brightly lit and fresh-scented, with up-to-date fixtures, absorbent and fluffy towels and complimentary toiletries.

¨ A Good Breakfast - is available from a menu with the most popular food and beverages, which were tested and chosen to suit the guests at each hotel.

¨ Exceptional Cleanliness - The Ramada Clean Team makes each and every area of the hotel shine, glow or sparkle. No detail is overlooked.

¨ Helpful, Friendly Staff - hotel employees are enthusiastic professionals who understand and anticipate guests' needs. They are the guests' team and are always there to help answer any question. The associates are the keys to a guest's satisfaction and the Ramada International guest experience. There are currently 26 Ramada International hotels in 15 countries and territories outside the United States. Two Ramada International hotels are currently under construction in Australia.