Four Seasons Resorts To Build Residence Ships!

Hi Everyone,

I received this press release from Kvaerner Masa-Yards and thought it
would be of interest. If you have missed any of my news' postings,
they are available on my web site.

Best regards,
Ray
LIGHTHOUSE TRAVEL
800-719-9917 or 805-566-3905
http://www.lighthousetravel.com


15 Jun 2004,
KVAERNER MASA-YARDS INC. SIGNS CONDITIONAL CONTRACT FOR RESIDENCE SHIP



KVAERNER MASA-YARDS INC. SIGNS CONDITIONAL CONTRACT FOR RESIDENCE SHIP
Kvaerner Masa-Yards Inc potentially to build Luxury Residence Ship to
be operated by Four Seasons Hotels and Resorts

HELSINKI, Finland, 15 June, 2004
Kvaerner Masa-Yards Inc. (KMY), has signed a conditional contract with
FS Ocean Club Ltd., managed by Ocean Development Group, to design,
construct and deliver an approximately 42,500 Gross Ton luxury
residential ship to be branded, managed and operated by Four Seasons
Hotels and Resorts. The ship, to be named the M/S Four Seasons, will
be approximately 200 meters in length and will feature approximately
100 spacious residences varying from 125 square meters to 320 square
meters.

“KMY is excited to have the opportunity to work with both Four Seasons
and Ocean Development Group on this new project,” said Mr. Yrjö Julin,
President and CEO, KMY. “With our combined experience, we are sure
that M/S Four Seasons will promote the new residential lifestyle that
can be offered at sea.”

The value of the contract is approximately €276 million and will, when
confirmed correspond to about two thousand man-years employment at KMY
and its suppliers and subcontractors. KMY has built more than 25% of
the world’s modern passenger ship fleet, and enjoys an unprecedented
on-time delivery record. Construction of the M/S Four Seasons, which
is anticipated to take 24 months to complete, will commence when sales
targets for the residences have been reached, which is expected to
occur before July 2005.

The agreement includes an option to contract a similar vessel to be
exercised within year 2005 as soon as the sales targets for residences
have been reached for the second vessel.

“The signing of this conditional contract with KMY and our agreement
with Four Seasons are significant milestones in our plan to create a
unique residential community at sea,” said Chairman and CEO of Ocean
Development Group, Mr. Kristian Stensby. “The development in recent
years of branded luxury residential resort communities has shown there
is great potential demand for the unique lifestyle experience we will
offer.”

“We are excited to expand our residential portfolio with this new and
visionary lifestyle product,” added Kathleen Taylor, President,
worldwide business operations, Four Seasons Hotels and Resorts. “The
M/S Four Seasons will offer our guests the opportunity to experience
the Four Seasons lifestyle in locations where we do not currently have
a presence, and will become a showcase for the highly personalised
service for which Four Seasons is renowned.”

Very strange -- considering the tribulations of "The World" by Residensea.
If I recall correctly, residence sales never met expectations, they had to
discount the cruises for vacationers - and the residents had issues with
them.

Mark

"Ray Goldenberg" wrote in message
...
Hi Everyone,

I received this press release from Kvaerner Masa-Yards and thought it
would be of interest. If you have missed any of my news' postings,
they are available on my web site.

Best regards,
Ray
LIGHTHOUSE TRAVEL
800-719-9917 or 805-566-3905
http://www.lighthousetravel.com


15 Jun 2004,
KVAERNER MASA-YARDS INC. SIGNS CONDITIONAL CONTRACT FOR RESIDENCE SHIP



KVAERNER MASA-YARDS INC. SIGNS CONDITIONAL CONTRACT FOR RESIDENCE SHIP
Kvaerner Masa-Yards Inc potentially to build Luxury Residence Ship to
be operated by Four Seasons Hotels and Resorts

HELSINKI, Finland, 15 June, 2004
Kvaerner Masa-Yards Inc. (KMY), has signed a conditional contract with
FS Ocean Club Ltd., managed by Ocean Development Group, to design,
construct and deliver an approximately 42,500 Gross Ton luxury
residential ship to be branded, managed and operated by Four Seasons
Hotels and Resorts. The ship, to be named the M/S Four Seasons, will
be approximately 200 meters in length and will feature approximately
100 spacious residences varying from 125 square meters to 320 square
meters.

"KMY is excited to have the opportunity to work with both Four Seasons
and Ocean Development Group on this new project," said Mr. Yrjö Julin,
President and CEO, KMY. "With our combined experience, we are sure
that M/S Four Seasons will promote the new residential lifestyle that
can be offered at sea."

The value of the contract is approximately ?276 million and will, when
confirmed correspond to about two thousand man-years employment at KMY
and its suppliers and subcontractors. KMY has built more than 25% of
the world's modern passenger ship fleet, and enjoys an unprecedented
on-time delivery record. Construction of the M/S Four Seasons, which
is anticipated to take 24 months to complete, will commence when sales
targets for the residences have been reached, which is expected to
occur before July 2005.

The agreement includes an option to contract a similar vessel to be
exercised within year 2005 as soon as the sales targets for residences
have been reached for the second vessel.

"The signing of this conditional contract with KMY and our agreement
with Four Seasons are significant milestones in our plan to create a
unique residential community at sea," said Chairman and CEO of Ocean
Development Group, Mr. Kristian Stensby. "The development in recent
years of branded luxury residential resort communities has shown there
is great potential demand for the unique lifestyle experience we will
offer."

"We are excited to expand our residential portfolio with this new and
visionary lifestyle product," added Kathleen Taylor, President,
worldwide business operations, Four Seasons Hotels and Resorts. "The
M/S Four Seasons will offer our guests the opportunity to experience
the Four Seasons lifestyle in locations where we do not currently have
a presence, and will become a showcase for the highly personalised
service for which Four Seasons is renowned."

On Wed, 16 Jun 2004 06:30:11 GMT, "Mark K - SF"
wrote:

Very strange -- considering the tribulations of "The World" by Residensea.
If I recall correctly, residence sales never met expectations, they had to
discount the cruises for vacationers - and the residents had issues with
them.

Hi Mark,

One of the main complaints by the resident owners were the cruise
guests. The new venture's business plan will not allow cruise guests.
You must be a full owner or time-share owner. The residents of
Residensea bought the ship from the controlling company. Kind of
funny, Residensea is still marketing to cruisers as I got some
advertising yesterday. I guess they figured out they need to fill
those empty cabins with some revenue guests. g

Best regards,
Ray
LIGHTHOUSE TRAVEL
800-719-9917 or 805-566-3905
http://www.lighthousetravel.com

hey thats true why are they.....gone doing strange things.

beach resorts and spa