Raffles Hotels & Resorts has agreed to manage a new luxury resort and residence, Raffles Tortola, in the British Virgin Islands - in an agreement with Greenfield Property Holdings Limited.

Set on 50 acres of pristine beachfront property at the northeastern end of Tortola, Raffles Tortola will offer residents a secluded half-mile white sand beach and sweeping views of the shimmering Caribbean Sea.

Residents at Raffles Tortola, scheduled to open in 2010, can look forward to an elegantly appointed 100-room resort exuding the intimate, residential feel that distinguishes Raffles hotels and resorts across the globe. Located in this picturesque backdrop as well are 250 Raffles Residences of luxury villas, casitas, condominiums and estate lots available for ownership. In addition, residents will have a choice of four restaurants and bars offering an innovative and varied selection of cuisine and cocktails. Three swimming pools, a fitness centre and two beach clubs provide an extensive range of leisure activities at Raffles Tortola. The resort also features 5,000 square feet of meeting space for conferences, as well as corporate and social events.

Raffles Tortola will also bear another signature component of Raffles hotels and resorts found around the world - RafflesAmrita Spa. Ancient Sanskrit legend has it that 'Amrita' was the magical elixir of youth sought by deities.

Raffles Amrita Spa at Raffles Hotel and Raffles The Plaza in Singapore, as well as Raffles Resort Canouan Island in The Grenadines have all been acknowledged as best spa in their respective destinations. At Raffles Tortola, RafflesAmrita Spa will occupy an expansive 15,000 square feet, offering residents hours of pampering in an oasis of calm and luxury.

Raffles Tortola is only 10 minutes from Beef Island Airport and 15 minutes from Road Town, capital of the British Virgin Islands. Connections to Beef Island Airport are available through several Caribbean airports including San Juan, St Thomas, Antigua, St Kitts or St Martin.

Said Dr. the Honourable D. Orlando Smith, Chief Minister and Minister of Tourism of the British Virgin Islands, "The British Virgin Islands has long been able to offer world class accommodations, however, Raffles will bring to Tortola a degree of luxury which is truly first rate and world class. The business and tourism communities have long asked for a resort of this stature on Tortola and Raffles will meet that demand. The fact that this resort is 100% owned by British Virgin Islanders is a perfect example of how we as a people are able to develop a large-scale project with the same quality and success enjoyed by major investors throughout the world. This is an accomplishment of which we are all extremely proud."

"My partner, Percy Rhoden and I, are thrilled to be part of The British Virgin Islands dynamic tourism growth, and Raffles Tortola can only add to the island's reputation as a choice destination for visitors to the British Virgin Islands," said Mark Vanterpool, Co-Director of Greenfield Property Holdings Ltd. "This is Raffles' first project in the Virgin Islands and we are very pleased to be working with such a world renowned brand."

"Raffles Tortola will be distinguished by the heartfelt service and residential charm that is characteristic of the Raffles brand," said Diana Ee Tan, Managing Director of Raffles Hotels & Resorts. "This luxurious sanctuary will be an ideal point from which residents can enjoy the lush landscape and white sand beaches of Tortola, and we are delighted that Greenfield Property Holdings Ltd. has appointed Raffles to manage this gem in such an awe- inspiring locale and destination."