Madison named one of the World's
            Best Hotels by TRAVEL + LEISURE
             January 3, 2006

         MADISON HOTEL TOP RATED HOTEL IN
            ZAGAT SURVEY AND CONDE NAST
            TRAVELER
             November 3, 2005

         The Madison Hotel Rings
             in a New Summer Tradition
              June 17, 2003

         The Madison Hotel Garners High Honors
            in the First Year of Operation
               May 22, 2003

         The Madison Hotel Announces
            a New Sunset Tradition
              March 18, 2003

         Grill 83 Announces New
            Lunch and Dinner Menus
              Apr. 29, 2003

         AAA and Resorts/Great Hotels Release
              Feb. 28, 2003

         Madison Romance Release
              Jan. 28, 2003

         Preservation Awards
              Sept. 26, 2002

         Grill 83 Now Open in Downtown Memphis
              Aug. 16, 2002

          A Business Traveler's Elegant Escape
               May 7, 2002

          The Madison prepares to Open
               May 7, 2002

FOR IMMEDIATE RELEASE

Contact:
Amy Howell
Howell McQuain Strategies
1715 Aaron Brenner Dr., Suite 716
Memphis, TN 38120
(P) 901-737-0853 (F) 901-737-4609

MADISON HOTEL HIRES NEW GENERAL MANAGER, CESAR GONZALEZ

MEMPHIS - Madison Hotel announced today it has hired a new General Manager, Cesar Gonzalez.

Gonzalez has over 30 years experience in the hospitality and hotel management industry. He comes to the Madison from Walt Disney World Resort Orlando where he was the General Manager for six and a half years. He has also worked for such well-known organizations as Hilton Hotels Corporation, Marriot International, Inc., Occidental Hotels & Resorts, Hotel El Convento out of Old San Juan, Puerto Rico and El San Juan Hotel & Casino out of San Juan, Puerto Rico.

"We are delighted to have Cesar as our General Manager;" said Mohamad A. Hakimian, Managing Partner of the Madison, "his experience in very high quality and high profile hotels and his diverse background will lead our team at the Madison accomplish new heights in guest services and quality recognitions." Gonzalez graduated from Cornell University in 1976 with a degree in hospitality and hotel management. He was born in Puerto Rico and is married with three children.

Madison hotel is located in the former Tennessee Trust Building at 79 Madison Ave. It was rehabilitated for use as a 110-room luxury boutique hotel that features stylish, contemporary decor and imported fabrics and furnishings that give it a distinctly European feel. From the portraits of blues artists in the mezzanine to the clef sign-shaped stair rail, the hotel's design pays tribute to the heritage of Memphis musicians while maintaining the tradition of southern hospitality and community values. Hotel amenities include an indoor heated lap pool, a bank vault converted fitness center, 24-hour in-room dining and a rooftop pavilion that features sweeping views of the Mississippi River.

Madison Hotel is a member of the Small Luxury Hotels of the World and an AAA 4 Diamond award recipient and has been recognized by the readers of Conde Nast Traveler and Travel & Leisure as one of the "Top 75 US Hotels" and "Top 500 World Hotels" respectively. For more information on The Madison Hotel, and its "Sunset atop the Madison" event, please contact the hotel at 901-761-5748.