Marriott Confirms Announcement of Sale of Senior Living Business

WASHINGTON, Dec 30, 2002 /PRNewswire-FirstCall via COMTEX/ --

Marriott International, Inc. (NYSE: MAR) confirms announcements by Sunrise Assisted Living, Inc. (NYSE: SRZ) and CNL Retirement Properties, Inc. that it has signed definitive agreements to sell the stock of its Marriott Senior Living Services (MSLS) management business to Sunrise and the assets of nine MSLS communities to CNL.

Marriott said that it expects to release additional information shortly regarding these transactions and others relating to its exit from the senior living business.

MARRIOTT INTERNATIONAL, INC. (NYSE: MAR), a leading worldwide hospitality company celebrating its 75th Anniversary in 2002, has over 2,600 operating units in the United States and 64 other countries and territories. The company is headquartered in Washington, D.C., and has approximately 145,000 employees. In fiscal year 2001, Marriott International reported systemwide sales of $20 billion. For more information or reservations, please visit the web site at http://www.marriott.com .

Note: This press release contains "forward-looking statements" within the meaning of federal securities laws, including statements concerning the sale of the MSLS business, that are not historical facts. We caution you that these statements are not guarantees of future events or performance and are subject to numerous risks and uncertainties, including satisfaction of customary closing conditions, including the receipt of necessary regulatory approvals. These statements are made as of the date of this press release, and we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

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SOURCE Marriott International, Inc.

Tom Marder of Marriot International, Inc., +1-301-380-2553, or
thomas.marder@marriott.com

http://www.marriott.com

Copyright (C) 2002 PR Newswire. All rights reserved.

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