million with respect to a private placement of unsecured senior notes, subject to market and other conditions.

Sea Containers intends to use the net proceeds for general corporate purposes, which may include funding for the previously announced proposed GE SeaCo joint venture with GE Capital, repayment of debt, redemption of outstanding $2.10 cumulative preferred shares, series 1982, funding capital expenditure programmes for each of its businesses, and working capital.

BUSINESS BUC