Starwood Preferred Guest Makes Homeownership More Rewarding Than Ever;

Starwood Preferred Guest Makes Homeownership More Rewarding Than Ever; Members Can Now Earn Thousands of Starpoints for Home Loan, Real Estate Services and More

    Business Editors

    WHITE PLAINS, N.Y.--(BUSINESS WIRE)--Jan. 3, 2005--Now, Starwood Preferred Guest(R) members can earn thousands of Starpoints(R) thanks to an arrangement with Awards for Mortgage and Real Estate(TM), a company that provides rewards for customers who buy, sell, finance or refinance a home, or purchase van line moving services. Members of the hotel industry's top rated loyalty program can earn thousands of Starpoints while obtaining competitive rates on mortgage and home equity loans, and utilizing other home-buying services. Starwood Preferred Guest also boasts an unrivaled portfolio of award-winning hotels and resorts that includes some of the world's most celebrated hotel brands: St. Regis, The Luxury Collection, Westin, Sheraton, W Hotels and Four Points by Sheraton.
    "This is a great opportunity for Starwood Preferred Guest members to take advantage of historically low rates while earning large amounts of Starpoints by using the best-known names in the banking and home-buying industry," said Jennifer McCarthy, Starwood's Vice President of Marketing Partnerships & Programs. "By using these services, Starwood Preferred Guest members can quickly earn Starpoints to be used toward domestic or international hotel award travel."
    Here is how it works - Starwood Preferred Guest members can choose from four of the nation's leading mortgage lenders including Chase Home Finance (the mortgage division of JPMorgan Chase & Co., NYSE: JPM), CitiMortgage, a member of Citigroup (NYSE: C), and Wachovia Mortgage Corporation's Corporate Mortgage Services Division (NYSE: WB). Once they choose a lender, Starwood Preferred Guest members will enjoy a streamlined loan process, competitive rates and a variety of home loan products, including zero down payment options and access to local real estate agents and van line companies. The more services used or money a member borrows, the more Starpoints a member earns. For example:

--	Earn 1,250 Starpoints for each $10,000 financed or refinanced on a home
--	Earn 1,250 Starpoints for each $10,000 of a home equity loan amount at closing
--	Earn 2,750 Starpoints for each $10,000 of a home purchase and/or sale price
--	Earn 750 Starpoints for each $1,000 paid on van line moving services

    As an extra incentive, Starwood Preferred Guest members have the opportunity to earn an additional 2,600 bonus Starpoints when they combine multiple services. Elite members can earn up to another 2,600 bonus Starpoints in addition to the bonus Starpoint opportunities highlighted above.
    With no black out dates, Starwood Preferred Guest allows members to redeem Starpoints when they want at any of Starwood's more then 750 hotels and resorts including Westin, Sheraton, Four Points by Sheraton, St. Regis, The Luxury Collection or W Hotels. Starpoints can also be transferred over to frequent flyer miles in over 30 different programs.
    To begin earning Starpoints, all home loan applications or requests for other services must be submitted either online at www.awardsformortgageandrealestate.com/starwood or by phone at 800-929-6001. Home loan applications or requests for other services submitted through any other phone number, online site or branch office are not eligible to earn Starpoints in this program.
    Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) is one of the leading hotel and leisure companies in the world with more than 750 properties in more than 80 countries and 110,000 employees at its owned and managed properties. With internationally renowned brands, Starwood is a fully integrated owner, operator and franchisor of hotels and resorts including: St. Regis, The Luxury Collection, Sheraton, Westin, Four Points by Sheraton, W brands, as well as Starwood Vacation Ownership, Inc., one of the premier developers and operators of high quality vacation interval ownership resorts. For more information, please visit www.starwoodhotels.com

    ** Please contact Starwood's new, toll-free media hotline at (866) 4-STAR-PR (866-478-2777) for photography or additional information. **

--30--SW/ny*

CONTACT: Starwood Hotels & Resorts Worldwide, Inc. Nadeen Ayala, 914-640-8259

KEYWORD: NEW YORK INDUSTRY KEYWORD: REAL ESTATE BUILDING/CONSTRUCTION BANKING TRAVEL PRODUCT SOURCE: Starwood Hotels & Resorts Worldwide, Inc.

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