Strategic Hotel Capital, Inc. Announces Initial Public Offering CHICAGO, June 24 /PRNewswire-FirstCall/ -- Strategic Hotel Capital, Inc. (NYSE:SLH) today announced that it has priced its initial public offering of 17.6 million shares of common stock at $14.00. Strategic Hotel Capital also granted the underwriters an option to purchase up to an additional 2.64 million shares of common stock. The shares began trading on June 24, 2004 on the New York Stock Exchange under the symbol "SLH." The offering is expected to close on June 29, 2004. The sole book-running manager for the offering is Goldman, Sachs, & Co. Deutsche Bank Securities Inc. is acting as a co-lead manager and Bank of America Securities LLC, Credit Suisse First Boston LLC, Wachovia Capital Markets, LLC and Raymond James & Associates, Inc. are acting as co-managers for the offering. A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission. Copies of the prospectus relating to this offering may be obtained from the prospectus department of Goldman, Sachs, & Co., Prospectus Department, 85 Broad Street, C Level, New York, NY 10004, (Tel.: 212-902-1171). This release shall not constitute an offer of securities for sale or a solicitation of an offer to buy securities. Forward-Looking Statements The closing of the offering is subject to standard conditions precedent contained in the underwriting agreement including delivery of legal opinions, absence of a material adverse change in the consolidated financial position or results of operations of the Company, suspension or material limitation in trading in securities generally on the NYSE or the occurrence of any other calamity or crisis or any change in financial, political or economic conditions in the United States or elsewhere that would make it impracticable or inadvisable to proceed with the public offering. DATASOURCE: Strategic Hotel Capital, Inc. CONTACT: Jim Lyman, Chief Financial Officer, of Strategic Hotel Capital, +1-312-658-5740; General Info., Georganne Palffy, +1-312-640-6768, or Media Inquiries, Tim Grace, +1-312-640-6777, both of the Financial Relations Board

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