Released on = May 16, 2007, 6:35 am

Press Release Author = Munira Mitra

Industry = Real Estate

Press Release Summary = The Ritz-Carlton Hotel Company, L.L.C. Announces First India
Hotel; Partners with Nitesh Estates to set-up a 250-room, five star property in
Bangalore .

Press Release Body = Chevy Chase, Md / Mumbai, May 16, 2007 -The Ritz-Carlton Hotel
Company, L.L.C., the leader in global luxury hospitality, has announced plans for
its first location in India. The Ritz-Carlton, Bangalore, a 250-room, five-star
property, will open in the nation's third-largest city by early 2010. Developed by
Nitesh Estates, The Ritz-Carlton, Bangalore, will be set up in the central business
district of the city.

Nitesh Estates has partnered with Ritz Carlton to facilitate the international
hospitality major's entry into India. This project also marks Nitesh Estates' foray
into the hospitality segment, one of the fastest growing and a lucrative segment for
the real estate and construction industry.

"India represents the next great international expansion opportunity for The
Ritz-Carlton Hotel Company," said Simon F. Cooper, president and chief operating
officer. "We are especially pleased that our initial presence will be in Bangalore,
a city whose thriving economy has made it the Silicon Valley of the nation. "Nitesh
Estates, the Bangalore-based developer, has committed to building a world-class
hotel in the heart of the city's central business district," he added.

Nitesh Shetty, managing director, Nitesh Estates said, "We are delighted that The
Ritz-Carlton Hotel Company will be entering the Indian market in association with
us. We hope to continue this partnership in other cities, as well."

The Ritz-Carlton, Bangalore will offer several restaurants, extensive meeting and
events space, a luxurious spa and outdoor swimming pool, and an entire floor
dedicated to high- end retail store boutiques. In addition to spacious rooms and
suites, the hotel will include The Ritz-Carlton Club, a private floor accessible
only by elevator key and offering light fare and dedicated concierge service
throughout the day. Wimberly Allison Tong & Goo will be the architect and Hotel
Interior Design Peter Silling will be the interior designer for the hotel.

About Nitesh Estates
A leading integrated property development company headquartered in Bangalore, Nitesh
Estates is engaged in the development of high end Residential Apartments, Office
buildings, Hotels and Retail Space. Nitesh Estates has bagged a Rs. 100 crore
built-to-suit residential complex for ITC Limited. Citigroup Property Investors
announced an investment of $100 million in Nitesh Estates earlier this year for the
development of various hotel projects. Also, in February 2007, New York-based
Och-Ziff Capital Management Group, one of the top five global hedge funds picked up
a 25% stake in Nitesh Estates for $51 million. Learn more at www.niteshestates.com.


Web Site = http://www.niteshestates.com

Contact Details = Duparc trinity, west wing ,11th floor,17, MG road,Bangalore , 560001
Phone: +918040174000