SAN FRANCISCO, CA / Aug 22, 2001-- Visa International and Le Meridien have announced a multi-year strategic marketing partnership, providing the new partners with joint promotional opportunities while offering Visa cardholders added rewards and privileges when selecting Le Meridien properties around the world.

Based on this partnership, currently effective through June 2004, Visa and the 127 Le Meridien properties worldwide, plan to develop proprietary products, concepts, offers, co-op marketing plans and other initiatives, providing Visa cardholders who stay at Le Meridien with a range of benefits and incentives.

"Visa and Le Meridien represent a powerful travel partnership. By aligning with this leading international luxury hotel group, Visa plans to deliver exceptional benefits and service to its cardholders worldwide," said Tom Shepard, Visa International's executive vice president of Global Marketing Partnerships and Sponsorships. "This strategic alliance is an example of Visa's continued commitment to provide added value and benefits to our members and cardholders."

Edvj Massazza-Gal, senior vice president, Visa International EU Region adds, "With such a wide choice of hotels offered by this European based group, the partnership demonstrates the benefits which can be passed on by Visa to cardholders globally. We also look forward to working with our Members in the EU Region to provide specific and tailor-made programs that give an enhanced service to our cardholders wishing to stay at Le Meridien."

"Le Meridien is proud to join forces with Visa International to offer a solid portfolio of luxury hotels around the world, with premium service and overall value that will appeal to Visa's global network of discerning cardholders," remarked Norman Bekker, Manager Partnerships, Le Meridien. "Le Meridien is expanding rapidly around the world with an ambitious program which last year saw 19 hotels opening, with a further 19 scheduled to open in 2001 and 2002; or, put another way - 1.5 hotels opening each month somewhere in the world!"

Le Meridien has a current global portfolio of 127 hotels (more than 33,000 rooms) in 55 countries. Through the alliance that Le Meridien have with Nikko hotels, extended this year to include all Nikko hotels, Le Meridien has a total marketing network of 149 hotels in 63 countries and territories. A (pound)1 billion-plus turnover company, Le Meridien's portfolio is a mix of owned hotels and managed properties. The 127 hotels are currently divided between cities (92) and resorts (35). Le Meridien is also the largest single member of The Leading Hotels of the World - with 20 properties belonging to the prestigious marketing consortium.

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About Visa

Visa is the world's leading payments brand and the largest payments system worldwide. Visa-branded cards generate almost US$2 trillion in annual volume and are accepted at over 22 million locations around the world. The Visa organization plays a pivotal role in advancing new payment products and technologies to benefit its 21,000 member financial institutions and their cardholders. Visa is a leader in Internet based payments and is pioneering the creation of u-commerce, or universal commerce - the ability to conduct commerce anytime, anywhere, over any type of device. Visa can be found at www.visa.com.

About Le Meridien

Le Meridien hotels combine a European style and individual character with a genuine respect of the local culture. They offer a high level of personal service, exciting cuisine and an extensive range of business, conference, banqueting, health and leisure facilities. Visit the Le Meridien website at www.leMeridien.com.

Mike Sherman
650-432-3923
Visa U.S.A.