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From: "G. Max" 1MIMIE=> To:' Subject: Date: Tue, 25 May 2004 20:37:03 +0000 April 12, 2004 Thomas J. Pritzker, Chairman and CEO of Hyatt Corporation 200 West Madison Street, Suite 3800, Chicago, IL 60606. Dear Mr. Pritzker: I am writing to bring Private Labeled Bottled Water to your attention

ul growth" — we avoid excessive multi- unit development within a given market that serves to dilute the performance of individual hotels. Source: Hyatt Corporation company reports. Hotels Rooms North America 287 83,013 Europe & Middle East 38 10,712 Latin America & Caribbean 9 2,703 Asia Pacific 56