Kerzner Announces Stephen M. Ross to Join Kerzner Board Of Directors
June 13 2005 - 7:00AM
Business Wire
Kerzner International Limited (NYSE: KZL) (the "Company" or
"Kerzner"), a leading international developer and operator of
destination resorts, casinos and luxury hotels, today announced the
appointment of Stephen M. Ross to the Board of Directors of the
Company. Mr. Ross is Chairman, Chief Executive Officer and founder
of The Related Companies, L.P., a developer, manager and financier
of premier real estate properties, including the Time Warner Center
in New York City. Established in 1972 by Mr. Ross and originally
called Related Housing Companies, The Related Companies' portfolio
includes over $15 billion worth of developments. He is Chairman and
founder of CharterMac (an AMEX listed company), in which The
Related Companies is an 18% stock owner. In announcing the
appointment, Sol Kerzner, the Company's Chairman, remarked, "We are
delighted that Steve Ross is joining our Board. As someone who
understands the entrepreneurial spirit that drives this Company and
has experience developing extraordinary properties, Steve
represents an invaluable independent voice and is a great fit with
our business and culture. As we advance into the construction
process of such projects as Phase III on Paradise Island and
Atlantis, The Palm in Dubai, we are very fortunate to gain the
insight of one of the great real estate developers for this next
phase of the Company's growth." Steve Ross commented, "I am very
excited to join the Board of Kerzner. Theirs is a fascinating
industry and the Company is going through a very dynamic phase of
growth. I am looking forward to being a part of it all and hope to
be able to make a contribution to its future successes." About The
Company Kerzner International Limited (NYSE: KZL) is a leading
international developer and operator of destination resorts,
casinos and luxury hotels. The Company's flagship brand is
Atlantis, which includes Atlantis, Paradise Island, a 2,317-room,
ocean-themed destination resort located on Paradise Island, The
Bahamas. Atlantis, Paradise Island is a unique destination resort
featuring three interconnected hotel towers built around a 7-acre
lagoon and a 34-acre marine environment that includes the world's
largest open-air marine habitat and is the home to the largest
casino in the Caribbean. The Company also developed and receives
certain income derived from Mohegan Sun in Uncasville, Connecticut,
which has become one of the premier casino destinations in the
United States. In the U.K., Kerzner is currently developing a
casino in Northampton and received its Certificate of Consent from
the U.K. Gaming Board in 2004. In its luxury resort hotel business,
the Company manages ten resort hotels primarily under the
One&Only brand. The resorts, featuring some of the top-rated
properties in the world, are located in The Bahamas, Mexico,
Mauritius, the Maldives and Dubai. An additional One&Only
property is currently in the planning stages in South Africa. For
more information concerning the Company and its operating
subsidiaries, visit www.kerzner.com. Investor inquiries regarding
the Company should be directed to Omar Palacios at +1.242.363.6018.
Media inquiries should be directed to Lauren Snyder at
+1.242.363.6018.
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