- Option to redeem 7.5% Bonds 2012

On 21 December, Hotel San Antonio plc announced that it is giving all existing 7.5% 2012 bondholders the option to redeem their current holding at €102 per bond. The offer will be available between and including 22 December 2010 and 5 January 2011.

All bondholders who are on the Company’s register as at today 21 December 2010 are eligible for this offer and will be receiving a Tender Offer Memorandum together with an Acceptance Form. Bondholders who submit their Acceptance Form on or before 5 January 2011 will receive €102 per bond (equivalent to 102% of the Redemption value of each bond on 30 May 2012) together with the accrued interest on 26 January 2011.

The Company stated that it will only accept to repurchase Bonds pursuant to the submission by Bondholders of a valid Acceptance Form and in accordance with the terms, conditions and procedures set out in the Tender Offer Memorandum.

Due to this optional redemption, trading in the 7.5% Hotel San Antonio plc 2012 Bonds will be suspended between 22 December and 26 January, both days included. Trading will then resume on 27 January 2011.

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