Crown Limited is proud to announce the name of its second hotel development � Crown Promenade Hotel.

The construction of the Crown Promenade Hotel is on target to open as scheduled in November 2003 with the lift core already at level seven of the 20-storey building.

As the name suggests, the Crown Promenade Hotel will represent a new breed of hotel in the Melbourne marketplace with its relaxed and affordable style with something for everyone.

Contemporary, tranquil and chic, the hotel reflects its location in the heart of the entertainment and leisure precinct of Melbourne that is Southbank, the Yarra River precinct and the soon to be opened Federation Square.

According to Crown Chief Executive Officer, Rowen Craigie, the Crown Promenade Hotel when completed, will compliment the Crown Vision of offering �a world of entertainment�.

�The construction of the Crown Promenade Hotel will build on the success of our existing hotel - Crown Towers - by providing an accessible level of accommodation that is different from the unsurpassed luxury and opulence that is currently provided by Crown Towers,� Mr Craigie said.

�Whilst Crown Towers services the high-end of our premium business, Crown Promenade Hotel will fit well with the rest of the Crown Entertainment Complex and open up new markets for us in the gaming, corporate, leisure and group corporate markets.

�The Crown Promenade Hotel will provide a stylish product that is typical of Crown but at a different price point whilst Crown Towers will continue to be one of the most luxurious hotels in Australia,� Mr Craigie said.

The combined inventory of Crown Towers and Crown Promenade Hotel will be over 900 hundred rooms with an unprecedented range of accommodation levels and support facilities all in keeping with its location in the heart of Melbourne�s leisure and conference precinct.

Enveloped in a high quality, uncomplicated contemporary design, facilities include a leisure centre; 250-seat restaurant; spacious lobby bar; dedicated convention and conference centre a 700-seat plenary hall and 10 meeting rooms and 465 world class guest rooms, each offering a generous 34 square metres of well-appointed space.

For further information contact:

Trish Palmonari - Media Relations Manager Telephone: 03 9292 7614 / M: 0411 832 517