International Hotel Investments Plc

Report Publication Announcement • Jan 9, 2014

COMPANY ANNOUNCEMENT

Corinthia Hotel Benghazi

International Hotel Investments p.l.c. has entered into an agreement with the Libyan Foreign Investment Company to set up a joint stock company which will own a mixed-use development, incorporating the five-star Corinthia Hotel in Benghazi.

The project, located on a prime seafront site in Libya's second largest city, will comprise a five-star hotel with an inventory of 259 rooms and suites, 10,000 square metres of office space, 2,000 square metres of retail space, two restaurants, meeting rooms, banqueting halls, a spa and a business centre.

The necessary planning permits for the project have been issued by the Benghazi planning authorities, demolition works started last week, and the project is expected to be completed in mid-2017.

Alfred Fabri Company Secretary

9th January 2014