Email reply from Peter Hodgson, Vice President Corporate Affairs at Four Seasons Hotels and Resorts.

 
December 28, 2006

David --- Thank you for your email regarding Grenada. Four Seasons places emphasis on being involved with projects which are appropriate to their site and beneficial to the local economy and overall environment in which they are located. We have confidence that the developer of this project, and the Government of Grenada, will ensure that this project goes forward in an appropriate manner.

As you know this project is just in its preliminary stages, we will update you with further information when it is available.

Regards.