International Hotel Investments plc - NPHC and Bayan Investments Co subscribe to IHI shares.

Following the approval at the Annual General Meeting of International Hotel Investments plc (IHI) held on 31 May 2006 of the resolution authorising the Directors to issue and allot up to 150 million shares in the Company and waiving pre-emption rights, the Board of Directors has issued and allotted shares to:

– National Projects Holding Company (NPHC) of Kuwait, which subscribed to an initial 2 million shares at euro 1 each and;

– Bayan Investments Co of Kuwait, which has subscirbed to 1,972,995 shares at euro 1 each.

As a result the issued share capital of International Hotel Investments plc increased to 143 million shares.

The subscribed shares have been fully paid-up and have been registered and admitted to trading by the Malta Stock Exchange.

Negotiations are actively ongoing on the issue of further shares in IHI to strategic investors in terms of the agreement entered into with NPHC.

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