NEWS RELEASE:

CHIP Hospitality announces new GM at Best Western Charlottetown

CHARLOTTETOWN, PEI (April 9, 2008) - CHIP Hospitality is pleased to announce the appointment of Walter van Beek as the new General Manager of the Best Western Charlottetown.

After a distinguished career with Air Canada as a Director of In-flight Service, Mr. van Beek joined Delta Dailyfood in Montreal as Production and Sales Manager. His interest in the food and beverage industry also included positions as Catering and Sales Manager with Boaden Catering of Mississauga. Mr. van Beek’s most recent position has been as General Manager of Stanley Bridge Country Resort and Conference Centre in Stanley Bridge, PEI.

“We are pleased to have Walter guide our team at this key Atlantic property,” says Trevor Morgan, CHIP's Regional Vice President for Atlantic Canada. “Walter has a truly admirable work ethic and brings endless passion, creativity, and a winning attitude to everything he does.” In his new position, Mr. van Beek will guide a team of talented staff in further establishing the hotel as the destination of choice for business or leisure in Charlottetown. This is an exciting time for the Best Western Charlottetown as a 2-million dollar room upgrade commenced earlier this year. Renovations focus on the bedrooms and suites as well as becoming a 100% smoke free hotel. The Best Western Charlottetown is conveniently located near historical downtown Charlottetown and offers a wide range of facilities such as a heated indoor swimming pool, spa, fitness center, restaurant and lounge, as well as 6,000 square feet of meeting rooms and banquet facilities which can accommodate up to 200 people.

CHIP Hospitality is one of Canada’s leading hotel management companies and currently manages over 30 hotels and resorts in Canada with more than 7,700 rooms. The company manages independent hotels and hotels operating under major franchise brands including Crowne Plaza, Radisson, Residence Inn by Marriott, Holiday Inn, Hilton, Quality, Gouverneur, Best Western and Ramada properties. CHIP Hospitality is fully owned by British Columbia Investment Management Corporation (“bcIMC”), a Canadian leader in investment funds management that is based in Victoria, British Columbia (www.bcimc.com).

NOTE TO EDITORS: Photo available upon request.

Contacts:

Nathalie Jeghers
CHIP Hospitality - National Director of Sales
Tel.: 514.231.3075
njeghers@chiphospitality.com

Holly Peterson
CHIP Hospitality – Marketing Manager
Tel: (604) 646-8787 or (604) 512-9198
hpeterson@CHIPHospitality.com