HONOLULU, OAHU, HAWAII - Outrigger Hotels & Resorts has been appointed to manage its second hotel in New Zealand -- the luxury Outrigger at Clearwater Resort located on the South Island, in Christchurch's lakes district.

Located on 480 acres, the 96-unit resort and its surrounding recreational, retail and PGA Championship golf facilities have a combined value of US$45 million, and include a range of luxurious villa-style accommodations interspersed by 37 acres of lakes teeming with trout and native water fowl.

The overall resort concept was developed by Clearwater Holdings, which is owned by John Darby, Michael Coburn and Lady Diana Isaac. As leader of the development team, Darby indicated that Clearwater is now recognized as an important international facility, as well as a major conference and incentive destination and luxury leisure resort.

"We are delighted to have attracted an international operator of Outrigger's stature to Christchurch," said Darby. "It places Clearwater among a group of outstanding international resorts and contributes to Clearwater's reputation as New Zealand's premier golf resort."

Outrigger, Hawaii's largest hotelier, will assume management prior to June 1, 2004. The hotelier has expanded rapidly throughout Australia and New Zealand's most popular resort destinations. The addition of Clearwater brings the total portfolio of Outrigger managed properties open or under construction in the region to 15.

The Outrigger at Clearwater Resort includes the US PGA endorsed Clearwater Lakes Golf Course, which has hosted the New Zealand PGA Championship for the past two years. The par-72 championship course was designed by developer John Darby in conjunction with New Zealand golfing legend, Sir Bob Charles.

In addition to its championship golf course, Clearwater currently offers a wide range of activities, including the award-winning Lakes Restaurant; various meeting, conference, and banquet facilities; tennis courts; special activities and tours in and around Christchurch; walking and jogging trails; trout fishing equipment and facilities; and a private helipad allowing easy access to nearby skiing and other expeditions. In addition, other facilities to be introduced in the near future include a full service spa, swimming pool and fitness center.

Outrigger at Clearwater Resort is located 15 minutes from Christchurch and seven minutes from Christchurch International Airport, New Zealand's second international gateway.

With its current total of 96 units, New Zealand's newest Outrigger resort offers a range of accommodation styles, including two-story "over-water" villas with private docks. An additional 60 units will be completed by early 2005, and future plans call for ongoing additions that will result in a total of more than 200 accommodations by the end of 2005.

The one-, two- and three-bedroom hotel villas and garden suites boast spectacular views of the lakes and New Zealand's highest mountain range, the Southern Alps. Unit amenities include full kitchens, air conditioning, Jacuzzi-style tubs, high-speed Internet access, private parking, entertainment and cable TV systems and high quality furnishings.

According to Bill Henderson, vice president-business development for Outrigger Hotels & Resorts, Outrigger is delighted to have secured a presence at such a prestigious resort.

"In December 2003, we opened Outrigger at the Beacon in Queenstown, and we have been working with Clearwater Holdings for a number of months to conclude this management agreement," Henderson said. "We are especially pleased to have this opportunity to work with high quality developers such as Mr. Darby and his partners to maximize the future value of this exciting new resort," he added.

Dave Lawrence, Managing Director for Outrigger's South Pacific operations based in Australia, said he was particularly excited about opening a resort in the South Pacific linked to a world-class golf course - Outrigger's first golf-related venture outside Hawaii.

"Having successfully hosted the New Zealand PGA three times, the Clearwater Lakes Course adds another value-added sales point for our world-wide marketing network," remarked Lawrence. "As the home of the internationally televised New Zealand PGA Championship, we expect to leverage this coverage through our own international marketing resources that include specialized golfing and other special interest divisions."

Outrigger operates sales and reservation offices in 14 countries worldwide in addition to its headquarter office in Honolulu. The 57-year old company is well established in the travel industry and maintains an extensive international sales force, reservation system and network of travel partners.

For more information on Outrigger Hotels & Resorts, visit its website at www.outrigger.com.