PRNewswire -- Sunstone Hotel Investors, Inc. (NYSE: SHO) (“Sunstone”), sole managing member of Sunstone Hotel Partnership, LLC (the “Operating Partnership”), announced today that the Operating Partnership expects to commence on April 17, 2009 a cash tender offer and consent solicitation to purchase any and all of its outstanding 4.60% Exchangeable Senior Notes due 2027 (CUSIP 86801FAA4) (the “Notes”) and to solicit consents (the “Consents”) from the registered holders of the Notes to adopt a proposed amendment to the Indenture governing the Notes (the “Proposed Amendment”) pursuant to an offer to purchase and consent solicitation statement to be filed with the Securities and Exchange Commission. As of April 16, 2009, there was $186,012,000 aggregate principal amount of the Notes outstanding. Registered holders of the Notes may validly deliver their Consents without tendering the related Notes. However, holders that validly tender their Notes will be required to and will be deemed to have validly delivered their Consents. The tender offer and consent solicitation will expire, unless extended, at 12:00 midnight, New York City time, on May 14, 2009 (the “Expiration Time”).
