Purchase, NY (April 7, 2011) - Eagle Hospitality Properties Trust, Inc., a Maryland corporation (the "Company"), has received nominations from Esopus Creek Value Series Fund LP of two individuals for election to the Board of Directors of the Company, pursuant to the terms of the Company's 8.25% Series A Cumulative Redeemable Preferred Shares, $0.01 par value per share (the "Preferred Directors"). The names of and biographical information for the two nominees are listed below. The information was provided to the Company by Esopus Creek Value Series Fund LP and has not been independently verified by the Company. No other nominees for Preferred Director were received by April 5, 2011, the extended deadline for submission of nominees, and therefore no other nominees for Preferred Directors will be considered at the Annual Meeting.
As previously noticed, the Annual Meeting will be held on Tuesday, April 12, 2011, at 11:00 a.m., local time, in Conference Room 37D at the offices of Skadden, Arps, Slate, Meagher & Flom LLP, Four Times Square, New York, New York 10036. The Company is not soliciting or requesting proxies.
1. Lauren Krueger
Ms. Krueger, age 36, is a managing member and joined Esopus Creek Advisors LLC, the general partner of the Esopus Creek Value Series Fund LP in April 2010. Most recently, Ms. Krueger was a vice president in the credit-related opportunities unit of D.E. Shaw Group, a global investment and technology development firm with approximately $19 billion in investment capital. She joined the D.E. Shaw Group in 2003 and became a vice president in 2006. During her tenure at the D.E. Shaw Group, Ms. Krueger invested in distressed and deep value securities, in both the public and private markets. She served on the Board of Directors and as the Chief Restructuring Officer of FAO Schwarz Inc., a prominent toy retailer, and on the Board of Directors of The Boyds Collection, LTD. (private equity holdings of the D.E. Shaw Group). Prior to her work at the D.E. Shaw Group, Ms. Krueger was a memeber of the restructuring group at Lazard Frères & Co. LLC, an investment bank, from 2002 to 2003. From October 2006 until March 2010, Ms. Krueger served on the Board of Kid Brands, Inc. (formerly known as Russ Berrie and Company, Inc.), a public company that through its subsidiaries, designs and markets branded infant and juvenile products, where she was a member of the executive and compensation committees. Ms. Krueger received her MBA from Columbia University, where she was a member of the Beta Gamma Sigma honor society, and her A.B. in Economics from Princeton University.
2. Martin J. Bienenstock
Martin J. Bienenstock, age 58, is currently the head of the Business Solutions & Governance Department and a member of the Executive Committee at Dewey & LeBoeuf LLP ("Dewey LeBoeuf"), a prominent law firm. Mr. Bienenstock has been at Dewey & LeBoeuf since December 2007. Prior to joining Dewey LeBoeuf, Mr. Bienenstock was the co-head of the Business Finance & Restructuring Department at Weil, Gotshal & Manges LLP, a prominent law firm, and served on its Management Committee. Mr. Bienenstock was at Weil, Gotshal & Manges from 1977 until 2007. Mr. Bienenstock's practice areas encompass governance advice for healthy or troubled companies, crisis management and restructuring, and international restructuring. He designs methods for companies and their boards to establish risk reporting systems so they may stay abreast of all material risk factors facing the company, as well as reducing risk and increasing stockholder value. One of Mr. Bienenstock's current assignments at Dewey LeBoeuf is the representation of Series C Preferred Stockholders of Innkeepers USA Trust.
Mr. Bienenstock also teaches Corporate Reorganization as the Robert B. and Candice J. Haas Lecturer in law at Harvard Law School, and for the last three years has been an adjunct professor at the University of Michigan School of Law. At both schools, Mr. Bienenstock teaches Corporate Reorganization which identifies diverse causes of business failure and distress and analyzes how corporate governance can mitigate or eliminate distress. The courses all analyze how chapter 11 deals with distressed companies so that out of court solutions can be compared with chapter 11.
Mr. Bienenstock received his B.S. from the University of Pennsylvania in 1974, and his J.D. from the University of Michigan School of Law in 1977.
CONTACT: Eagle Hospitality Properties Trust, Inc.
Mark Hamrick, Investor Relations, (214) 295-3607