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January 04, 2007 04:19 PM Eastern Time

Steiner Leisure Limited Announces Agreement to Operate a New Luxury Spa at The Ritz–Carlton, Palm Beach

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NASSAU, The Bahamas--(BUSINESS WIRE)--Steiner Leisure Limited (NASDAQ:STNR) today announced that its luxury resort spa division has entered into an agreement to operate a new luxury spa facility located at The RitzCarlton, Palm Beach, a Mobil Five-Star, American Automobile Association (AAA) Five Diamond luxury resort located on seven acres of pristine oceanfront property at the southern tip of Palm Beach Island.

The approximately 28,000 square foot spa will be built as part of an ongoing $45 million expansion of the resort that will also include a new pool, three new restaurant concepts, a 3,000 square-foot oceanfront terrace, expanded Ritz Kids and Ritz Teens programs, and more. After completion of the expansion, the resort will have 309 newly-renovated guest rooms and suites.

The elegant spa facility will include a total of 15 treatment rooms and suites, some featuring their own private gardens. Additional features of the spa include men's and women's changing lounges, Roman baths, steam rooms, a relaxation lounge, a coed spa garden, a fitness center, a yoga/Pilates studio, a hair and nail salon, barber shop and a spa boutique. A full compliment of spa services custom-tailored for the unique Palm Beach setting and spa environment will be featured.

Steiner Leisure estimates that the new spa will open in the fourth quarter of 2007. Due to the expansion work, The Ritz-Carlton, Palm Beach is closed until later in the first quarter of 2007.

Leonard Fluxman, President and Chief Executive Officer of Steiner Leisure, said: "We are extremely pleased to become associated with the prestigious Ritz-Carlton brand at their spectacular Palm Beach resort. We look forward to providing resort guests with what we expect to be a highlight of their Ritz-Carlton experience.

Ezzat Coutry, Senior Vice President for the Caribbean and Mexico for The Ritz-Carlton Hotel Company called the addition of the spa a key element in the repositioning of the resort as a lifestyle choice appealing to guests of any age, from those seeking classic beauty treatments to others hoping to relax and rejuvenate in a luxurious setting.

Steiner Leisure Limited is a worldwide provider of spa services. The Companys operations include spas and salons on 126 cruise ships, and in 52 resort spas and two luxury day spas. Our cruise line and land-based resort customers include Carnival Cruise Lines, Caesars Entertainment, Celebrity Cruises, Crystal Cruises, Cunard/Seabourn Cruise Lines, Hilton Hotels, Holland America Line, Kerzner International, Marriott Hotels, Norwegian Cruise Lines, Princess Cruises and Royal Caribbean Cruises. Our Elemis Limited subsidiary manufactures its Elemis® brand products for use in our cruise ship and land-based spas. This top quality European line of beauty products is also distributed worldwide to exclusive hotels, salons, health clubs and destination spas. Elemis®, as well as other Steiner products, including La Therapie®, Ionithermie, and Steiner Hair Care, are available at www.timetospa.com.

Steiner Leisure owns and operates four post secondary schools (comprised of a total of 14 campuses) located in Miami, Orlando, Pompano Beach and Sarasota, Florida; Baltimore, Maryland; Charlottesville, Virginia; York, Pennsylvania; Salt Lake City and Lindon, Utah; Las Vegas, Nevada; Tempe and Phoenix, Arizona; and Westminster and Aurora, Colorado. Offering degree and non-degree programs in massage therapy and, in some cases, skin care, these schools train and qualify spa professionals for health and beauty positions within the Steiner family of companies or other industry entities.

Forward-Looking Statements

Our statements with respect to the proposed services at, the proposed expansion of, and the estimated opening date of our operations at, the above resort may be deemed to be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements do not guarantee the timely construction or final characteristics of this new spa or the resort expansion, since known and unknown risks and other factors may preclude results that match these statements. Such risks and factors include uncertainties beyond our control that could adversely affect the timely construction and final characteristics of resort facilities such as at the Ritz-Carlton Palm Beach, including, among other things, our lack of control over the construction and the venue where the spas will be located and possible weather-related delays. Other risks are described in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for 2005.



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