International Hotel Investments plc - Interim Directors’ Statement

On 14 September Island Hotels published its Interim Directors’ Statement covering the period since the publication of its half-year results as at 30 April 2012.

The Directors mentioned that the despite the negative economic situation existing in the UK (the Group’s core source market), as well as the competitive environment in which it operates, the Group overall performance in the third quarter has been marginally better than the corresponding period last year. Nevertheless the Directors’ expect that the Group’s aggregate results for the financial year ending 31 October 2012 will be in line to those registered the previous year when the Group registered an earnings before interest, depreciation and amortisation of €5.5 million and a pre-tax loss of €0.6 million.