Forest City Commercial Group, a subsidiary of Forest City Enterprises, Inc. announced today that it has finalized an agreement with Starwood Hotels & Resorts Worldwide, Inc. HOT to manage the DoubleTree Pittsburgh Hotel at Liberty Center as The Westin Convention Center, Pittsburgh, effective January 18, 2001.

Developed and built by Forest City in partnership with Jos. L. Muscarelle, Inc. in 1987, the hotel has been managed by DT Management Inc., a subsidiary of Hilton Hotel Corporation since 1995.

The hotel is connected via an enclosed walkway to the 131,000 square foot David L. Lawrence Convention Center in downtown Pittsburgh. The convention center is currently undergoing a $328 million expansion program to be completed in 2003, which nearly triples the exhibit space.

"We are very enthusiastic about the city's plans for the new convention center and what it will mean for Pittsburgh in terms of increased convention business," said Brian J. Ratner, senior vice president of East Coast development for Forest City. "Westin has a great deal of experience in the convention business and we are confident that the center will greatly benefit from having Westin connected as an integral part to meet the increased demand," he continued.

The 618-room hotel offers 25,000 square feet of meeting space that accommodates up to 1,200 people, an indoor pool, fitness facilities, sauna, whirlpool, and steam baths. Beginning in 2001 the hotel will undergo a $10 million renovation program to refurbish all meeting space and guest rooms, including the addition of Westin's signature Heavenly Bed(SM). In addition, a proposal to expand the hotel by 504 guest rooms and 44,000 square feet of meeting space has been submitted to the city for approval. The hotel is located in Liberty Center, a 504,000-square-foot, mixed-use office development, home to Federated Investors.

"We are delighted to be partnering again with Forest City, a premier hotel developer. Our partnership with Forest City at the Sheraton Station Square Hotel has resulted in the highest occupancy rate in the city," said Ted Darnall, president of North American operations for Starwood. "There's a strong synergy between the two companies and we welcome this opportunity to work together again and increase our presence in Pittsburgh," he added. The Sheraton Station Square Hotel is currently undergoing a $25 million renovation and expansion including a 97,000-square-foot tower with eight meeting rooms and 104 guest rooms. In Pittsburgh, Starwood also manages the 595-room Westin William Penn.

"We are making other significant investments in the Pittsburgh market because we have such confidence in the growth of the area," Mr. Ratner said, citing the expansion of the Station Square entertainment/retail center and the construction of the 1.2 million-square-foot Mall at Robinson in Robinson Township, due to open in October 2001.

Westin Hotels & Resorts, with more than 120 hotels and resorts in 25 countries, is owned by Starwood Hotels & Resorts Worldwide, Inc. Starwood is one of the leading hotel and leisure companies in the world with more than 725 properties in 80 countries and 120,000 employees at its owned and managed properties. With internationally renowned brands, Starwood is a fully integrated owner, operator and franchiser of hotels and resorts including: St. Regis, The Luxury Collection, Sheraton, Westin, Four Points by Sheraton and W brands, as well as Starwood Vacation Ownership, Inc., one of the premier developers and operators of high quality vacation interval ownership resorts. For reservations or more information please call (800)-WESTIN-1, contact your travel counselor or visit www.westin.com.

Forest City Enterprises, Inc. is a $3.9 billion, NYSE-listed real estate company headquartered in Cleveland, Ohio, principally engaged in the ownership, development, acquisition and management of commercial and residential real estate throughout the United States. The company's portfolio of property investments includes interests in 15.7 million square feet of leasable space in 41 retail centers; 33,000 residential units in 108 apartment communities; 7.2 million square feet in 24 office buildings; and 3,000 rooms in nine hotels. This diversified portfolio is operated by regional offices in New York, Los Angeles, Boston, Tucson, Denver, Washington, D.C. and San Francisco.

Gretchen Kloke
914-640-5236