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NICKELODEON AND HOLIDAY INN TO OPEN FIRST NICK-THEMED HOTEL IN ORLANDO, FLORIDA

Nickelodeon, the number-one kids brand, is partnering with Holiday Inn(R) Hotels & Resorts to develop the first Nick- themed hotel, opening in Orlando, Fla. Nick's brand philosophy of putting kids first in everything it does will extend to all aspects of the hotel, especially in the hotel's suites which give kids their own rooms. The hotel will be called the Nickelodeon Family Suites by Holiday Inn and is scheduled to open in early 2005. The announcement was made by Jeffrey D. Dunn, President, Nickelodeon Enterprises, and Mark Snyder, Senior Vice President, Brand Management, Holiday Inn Hotels & Resorts, The Americas.

Nickelodeon will convert the popular Holiday Inn Family Suites Resort, located in Lake Buena Vista and convenient to Orlando's major theme-park attractions, into a first-of-its kind Nick-themed environment. Nick will add its signature entertainment and style to the current hotel's 800 suites that include two- and three-bedroom Kidsuites(R) that give kids their own space and entertainment areas and provide parents with a comfortable, family focused environment.

"We intend to provide families a better vacation experience by giving kids their very own bedrooms in suites that offer tremendous function and value when compared to regular hotel rooms," said Dunn. "We originally looked into building our own hotel, but we found that the Holiday Inn Family Suites Resort has the ideal design and management team to communicate Nickelodeon's sensibility and our connection to kids."

"What we're planning for this hotel will go way beyond 'family friendly,'" said Snyder. "The Holiday Inn brand pioneered family travel more than 50 years ago, and the Holiday Inn Family Suites Resort perfected the family hotel experience. The Nickelodeon relationship will take the already award-winning combination to the next level by creating a one-of-a-kind family entertainment destination inside the four walls of a hotel."

The existing resort property will undergo a $20 million transformation to make it even more kid friendly, with Nick-decorated bedrooms for the kids, complete with bunk or twin beds and a TV and video-console system; two sprawling pools with waterslides and flumes; poolside game areas and game room; wake-up calls from Nick stars and daily character breakfasts; a food court; and live entertainment featuring Nick characters and interactive stage entertainment. The hotel's current suites feature two bedrooms, a living room and bathroom, microwave and refrigerator. In addition to the two-bedroom suites, new suites will be introduced featuring three-bedrooms, two-baths and a fully functional kitchen.

Nickelodeon Family Suites will be the latest line of business for Nickelodeon Enterprises. The ancillary arm of the network, Nickelodeon Enterprises includes licensing, online, magazines and recreation, and brought in $2.6 billion in retail sales of consumer products last year. Nickelodeon Enterprises' recreation department entertains more than 18 million consumers annually at live theatrical shows and theme park attractions nationwide, including Universal Studios Florida, a short distance from the hotel.

The hotel will be managed by the current hotel's team, which has spent more than 25 years creating revolutionary family travel concepts, such as giving kids their own space, beds and entertainment options. Opened in 1999, the Holiday Inn Family Suites Resort has been voted Best Holiday Inn North America from 2001-03 by InterContinental Hotels Group's Priority Club Members Worldwide.

"We are taking an already fabulous hotel experience and creating something extraordinary with the Nickelodeon-themed hotel," said Terry Whaples, co-founder of the Holiday Inn Family Suites Resort and a 30-year veteran of Central Florida's hospitality industry. "Kids and their families have loved our suites, amenities and entertainment since we opened four years ago, and operating as a Nick-themed hotel will put us over the top as a new vacation destination for kids and their families."

Ms. Whaples co-founded the Holiday Inn Family Suites Resort four years ago with a partnership team that includes U.S. Senator and Astronaut John Glenn and Henri Landwirth, founder of Give Kids the World, a Central Florida charity that provides comprehensive free resort stays for terminally ill children and their families. Ed Rudman, co-founder and chairman of Pell Rudman, a 23-year- old wealth management firm located in Boston and nine other cities, has been an independent director of the hotel since its opening. He has now expanded his role by joining the partnership along with Miller Global Properties, a Denver-based real estate company which develops, acquires, operates and owns hotels, office buildings and mixed use properties throughout the United States and Europe.

"As hospitality property owners and commercial real estate investors, we see this as the most innovative hotel opportunity of the decade," said Jim Miller, President of Miller Global. "This launches a new era in travel for kids and their families."

Miller Global Properties has been developing and acquiring commercial real estate properties since its inception in 1995. Focusing primarily on hotels and office buildings, the company has been involved in 68 properties representing over $2 billion of asset value comprising 8.25 million square feet of office space and 1500 hotel rooms. The company has invested nearly $600 million of equity in 18 cities and three countries. Prior to forming Miller Global, various principals were involved in the development, management and/or ownership of such prestigious hotels as The Lodge at Pebble Beach, The Inn at Spanish Bay, Aspen's Little Nell Hotel and The Beverly Hills Hotel.

For more information about Nickelodeon Family Suites by Holiday Inn visit http://www.nickhotel.com or call 1-866-GO2-NICK.


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