FOR IMMEDIATE RELEASE Contact: Andy KeownPublic Relations Manager714-740-4229andrew.keown@hilton.com

THE HILTON ANAHEIM – ORANGE COUNTY’S LARGEST HOTEL – GETS “REDRESSED FOR SUCCESS” WITH $60+ MILLION DOLLAR RENOVATION

ANAHEIM, Calif. – November 8, 2007 – The Hilton Anaheim, Orange County’s largest

hotel, has celebrated the first phase of a multimillion dollar renovation with the grand re-

opening of the twin California and Pacific Ballrooms. In the coming months, nearly every

other aspect of this 1,572-room hotel will

get a contemporary makeover designed to

provide guests with a more productive,

enjoyable and relaxing experience.

The Hilton Anaheim’s owner, Makar

Properties, LLC, plans to invest more than

$60 million in the landmark hotel, tapping

its enormous potential through the installation of sophisticated technology and

contemporary, inviting style throughout the hotel’s guestrooms, meeting areas and public

spaces. By capitalizing on its proximity to the Anaheim Convention Center (just steps

from the hotel) and world-class leisure offerings such as the Disneyland Resort (a block

away), Makar Properties will reinvent the Hilton Anaheim as the ultimate Southern

California destination for groups, conventions and vacations.

“Over the next year, visitors to Orange County’s premier convention and vacation hotel

will experience an entirely new level of style, technology, functionality and amenities,”

said Paul Makarechian, President & CEO, Makar Properties. “We are thrilled to make

this investment in the Anaheim community and to renew the status of the Hilton Anaheim

as the leading choice for visitors to the area.”

(more)

Hilton Anaheim Undergoes Renovation 2-2-2-2

The Hilton Anaheim is equipped with 100,000 square feet of flexible meeting space that

can accommodate everything from intimate groups of 10 people to grand events for

3,000. The completely renovated twin 28,500 square foot California and Pacific

ballrooms have been thoroughly upgraded with new wall coverings, carpeting, lighting

and integrated sound. With the renovation of the ballrooms complete, the hotel’s 51

meeting breakout rooms are scheduled to be upgraded next. All renovation projects are

being scheduled and implemented to ensure a seamless experience for groups and

guests staying in the hotel during construction, with minimal noise or service disruption.

“From the moment visitors step foot on the plush, thickly padded new carpeting of our

ballrooms, they’ll know that big changes are underway at the Hilton Anaheim,” said

General Manager Harold Rapoza. “The quality of design, construction and materials

reflect Makar Properties’ demonstrated expertise in developing upscale and luxury

properties. This transformation is a wonderful step forward for our customers and our

team members.”

The renovation of the first floor of guestrooms is nearly complete, and will continue floor-

by-floor through August 2008. When finished, each guestroom and suite will have the

luxurious Hilton Serenity

Bed, 32” or larger flat panel

television, Cuisinart single-

cup coffeemaker, an

adjustable work desk with

ergonomic chair and a digital

panel that allows guests to

connect and charge several

digital devices at once. The

design elements include

dark ebony wood tones set against crisp white linens and pale, warm wall colors. Cozy

lighting and contemporary original artwork complete the look. The renovated guest

bathrooms feature Kohler fixtures, granite countertops and deluxe showerheads.

(more)

Hilton Anaheim Undergoes Renovation 3-3-3-3

Of the 1,572 total guestrooms, 49 are suites of varying sizes and 44 are newly created

“studios” that are perfectly suited for business travelers with oversized living/sleeping

areas and junior conference tables with ergonomic chairs.

Plans for a completely redesigned lobby, welcoming porte cochere, expanded Starbucks

Marketplace, innovative new restaurants and an upgraded fitness center are currently

being developed and will be announced in the coming months.

About Makar PropertiesHeadquartered in Newport Beach, California, Makar Properties, LLC is an innovative diversified real estate development company that specializes in the acquisition and development of innovative master-planned communities and mixed-use, resort, retail, golf, office and residential properties in premier locations and high growth markets. Devoted to community and investor needs, Makar aims to craft distinctive lifestyle experiences for each resident or guest while considering the integration of each project with its community and ultimately, delivering superior returns. Makar Properties, LLC has over $1 billion in assets representing an estimated build-out value of over $10 billion.

Makar is best recognized for developing lifestyle communities that combine luxurious, uniquely located hotel properties with upscale residential collections to create destination resort living. Among its current projects in development are Pacific City, a cool, surfside community including a boutique hotel with up to 250 rooms, cutting-edge retail and luxury residential in Huntington Beach, CA; La Jolla Commons, a new sophisticated urban commercial center encompassing a boutique hotel with approximately 168 rooms, residential units and office space in three prominent towers in La Jolla, CA; and Ritz Plaza Hotel & Residence Club, a unique venture preserving the historic 132-room art deco Ritz Plaza Hotel, while adding chic modern touches through the design influence of Philippe Starck, and constructing a residential club in South Beach, Miami, FL.

Makar aims to acquire distinctive properties with potential to be repositioned with vision and innovation. Recent acquisitions include Korakia Pensione, an exquisite destination property located in Palm Springs, CA; the Hilton Anaheim, the premier convention and resort destination in Orange County, CA; and the Wyndham Orange County, a stylish, modern property, situated on Avenue of the Arts in Costa Mesa, CA. One of Makar’s landmark developments is the St. Regis, Monarch Beach, a 172-acre luxury coastal resort in Dana Point featuring 400 rooms and suites completed in 2001. For more information, please visit www.makarproperties.com.

About Hilton Anaheim With 1,572 guestrooms and 100,000 square feet of meeting space, the Hilton Anaheim is Orange County’s largest hotel and its premier convention and leisure destination. The hotel is conveniently located next door to the Anaheim Convention Center and a block from the Disneyland Resort, making it an excellent choice whether planning an event, attending a conference or visiting one of Anaheim’s many exciting attractions. The hotel is currently undergoing a multimillion dollar renovation that will enhance nearly every aspect of the property with heightened ambience and functionality. The hotel is located at 777 Convention Way, Anaheim, California 92802. For reservations and further information, please visit www.hiltonanaheimtour.com or call (714) 750-4321.

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