H Group Holding, Inc. and Subsidiaries - Page 6

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          end of 1971, the Hyatt International group7 managed seven hotels             
          located in Hong Kong; Singapore; Manila, the Philippines;                    
          Colombo, Ceylon (Sri Lanka); Acapulco, Mexico; Colon, Panama; and            
          Toronto, Canada.  Early in the 1970’s, Mr. di Tullio hired                   
          Moustaffa Bakry, a former vice president of Hilton International             
          in Cairo, to assist in developing the Middle East.  By late 1972,            
          the Hyatt International group had executed nine management                   
          contracts, and additional management contract negotiations were              
          in process.  By 1973, Mr. di Tullio had become president of HIC.             
          From 1969 through 1975, the number of hotels managed by the Hyatt            
          International group grew from a single property in Hong Kong to              
          19 hotels located on 4 continents.  As of the end of 1979, the               
          Hyatt International group managed 28 hotels in 19 different                  
          countries.  Mr. di Tullio recruited Roland McCann, another former            
          Hilton colleague, to head the Hyatt International group’s efforts            
          in the Caribbean and Latin America.  During the period from 1976             
          through 1984, the Hyatt International group added 51 properties              
          in Europe, Africa and the Middle East, Mexico and Central                    
          America, and Asia, in addition to those already managed.                     
               On November 29, 1968, Hyatt Domestic and HIC entered into a             
          licensing agreement for use of certain “Licensed Marks” owned by             

               7  We use the term “the Hyatt International group” to refer             
          to HIC and its subsidiaries collectively or some combination                 
          thereof.  That term is in contrast to “HIC” or other instances               
          where we have referred to a specific entity.                                 

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