WHITE PLAINS, NY— Starwood Hotels & Resorts Worldwide, Inc. has completed the sale of the 376-room Sheraton Lisboa Hotel & Towers in Lisbon, Portugal to Sociedade de Construcoes Marope SA. Sheraton will continue to manage the hotel, which the owner plans to renovate. In addition, Starwood and its joint venture partner Hines have sold the 432-room Westin Galleria in Dallas, TX to Galleria Investors, a fund advised by UBS Realty Investors LLC. Westin will continue to manage the hotel for the new owners who plan a full renovation of the property. Starwoods proceeds from these two hotel sales is $42 million. Since 2003, Starwood has sold more than $1.1 billion worth of assets. The proceeds from these two hotels combined with other recent asset sales totals $154 million, part of an additional $500 million the company intends to sell by the middle of 2005. The company expects to use proceeds for share repurchase and for general corporate purposes.