Distributed March 13, 2003
For Immediate Release

News Service Contact: Mark Nickel

Barry S. Sternlicht elected trustee of the Brown Corporation

The Corporation of Brown University has elected Barry S. Sternlicht, a 1982 graduate of Brown, to a six-year term as trustee beginning March 1, 2003.

PROVIDENCE, R.I. — At its winter meeting Saturday, Feb. 22, 2003, the Corporation of Brown University elected Barry S. Sternlicht to a six-year term as trustee, beginning March 1. Sternlicht, a 1982 Brown graduate, is chairman and CEO of the Starwood Hotels and Resorts Worldwide Inc., and is the founder, president and CEO of Starwood Capital Group LLC. He lives in Greenwich, Conn., with his wife Miriam Reichert-Sternlicht, a 1983 Brown graduate.

The Corporation, governing body of Brown University, is composed of a 12-member Board of Fellows and a 42-member Board of Trustees, all elected by the Corporation. It is responsible for establishing broad policies for the operation of the University, for selecting a president to carry out those policies, for appointing administrative officers and faculty members, and for managing the funds and holding the real estate of the University.

Sternlicht received a Bachelor of Arts degree from Brown in 1982, concentrating in law and society, and an M.B.A. from Harvard in 1986. In his capacity as chairman and CEO of Starwood Hotels and Resorts Worldwide, he has oversight responsibility for all of the company's real estate holdings and financial affairs. Starwood is the world's largest lodging company, with more than 750 properties in 80 countries. The Starwood Capital Group, which Sternlicht founded in 1991 and currently serves as president and CEO, is a privately held investment management firm specializing in real estate-related investments. Starwood is one of the nation's most active real estate investors, with more than $6 billion in assets.

Sternlicht also serves on the boards of I-Star Financial, HealthMarket Inc., the Center for Christian-Jewish Understanding, the Committee to Encourage Corporate Philanthropy, Thirteen/WNET, and the Advisory Board of Directors of the Juvenile Diabetes Research Foundation. He is a member of the Council of Foreign Relations, Council for Italian-American Relations, Young Presidents Organization, and Urban Land Institute.