Strategic Hotels & Resorts Declares Second Quarter Dividends

CHICAGO, June 9  /PRNewswire-FirstCall/ -- Strategic Hotels & Resorts, Inc. (NYSE:BEE) announced today that it has declared a quarterly dividend of $0.23 per share of common stock.  The dividend is payable to shareholders of record as of the close of business on Friday, June 30, 2006.  The dividend will be paid on July 10, 2006.

The company also announced today that it has declared a quarterly dividend of $0.53125 per share of 8.5 percent Series A Cumulative Redeemable Preferred Stock payable on June 30, 2006, to shareholders of record on June 20, 2006, and a quarterly dividend of $0.51563 per share of 8.25 percent Series B Cumulative Redeemable Preferred Stock payable on June 30, 2006, to shareholders of record June 20, 2006.  Additionally, the company has declared a quarterly dividend of $0.24635 per share of 8.25 percent Series C Cumulative Redeemable Preferred Stock payable on June 30, 2006, to shareholders of record June 20, 2006.  This represents a partial payment of the scheduled quarterly dividend of $0.51563 per share, which reflects the closing of the Series C offering on May 17, 2006.

About the Company

Strategic Hotels & Resorts, Inc. is a real estate investment trust (REIT), which owns and asset manages high-end hotels and resorts.  The company has ownership interests in 19 properties with an aggregate of 9,658 rooms.  For further information, please visit the company's website at http://www.strategichotels.com/ . 

DATASOURCE: Strategic Hotels & Resorts, Inc.



CONTACT:  James Mead, Chief Financial Officer of Strategic Hotels &

Resorts, Inc., [phone]; or Leslie Loyet, General Information,

[phone], or Tim Grace, Media Inquiries, [phone], both of

Financial Relations Board



Web site:  http://www.strategichotels.com/ 

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