Strategic Hotels & Resorts Declares Second Quarter Dividends

CHICAGO, June 5 /PRNewswire-FirstCall/ -- Strategic Hotels & Resorts,
Inc. (NYSE: BEE), announced today that its Board of Directors has declared
a quarterly dividend of $0.24 per share of common stock. The dividend is
payable to shareholders of record as of the close of business on June 30,
2008. The dividend will be paid on July 10, 2008.

The company also announced today that its Board of Directors has
declared a quarterly dividend of $0.53125 per share of 8.5 percent Series A
Cumulative Redeemable Preferred Stock payable on June 30, 2008 to
shareholders of record on June 20, 2008, a quarterly dividend of $0.51563
per share of 8.25 percent Series B Cumulative Redeemable Preferred Stock
payable on June 30, 2008 to shareholders of record June 20, 2008 and a
quarterly dividend of $0.51563 per share of 8.25 percent Series C
Cumulative Redeemable Preferred Stock payable on June 30, 2008 to
shareholders of record June 20, 2008.

About the Company

Strategic Hotels & Resorts, Inc. is a real estate investment trust
(REIT) which owns and provides value-enhancing asset management of high-end
hotels and resorts in the United States, Mexico and Europe. The company
currently has ownership interests in 20 properties with an aggregate of
9,042 rooms. For a list of current properties and for further information,
please visit the company's website at http://www.strategichotels.com.