International Hotel Investments Plc

Capital/Financing Update • Apr 10, 2015

COMPANY ANNOUNCEMENT

New Bond Issue

Issue of €45,000,000 5.75% International Hotel Investments p.l.c. Unsecured Bonds 2025 and redemption of €35,000,000 6.25% International Hotel Investments p.l.c. Unsecured Bonds 2015-2019

Following regulatory approval received on Friday 10th April 2015, International Hotel Investments p.l.c. (the "Company") announces that it will be issuing €45,000,000 5.75% Unsecured Bonds redeemable in 2025 (the "Bonds") with a nominal value of €100 per Bond, issued at par.

Furthermore, the Company announces that the Board of Directors has resolved to redeem the €35,000,000 6.25% Unsecured Bonds 2015-2019 (ISIN: MT0000111253) (the "Maturing Bonds") on 11th July 2015 in accordance with the terms of the prospectus dated 12th June 2009.

The Company will be granting preference to holders of the Maturing Bonds to subscribe to the Bonds by surrendering the Maturing Bonds. The Company therefore announces that the Cut-Off Date for such eligibility shall be 10th April 2015. Trading in the Maturing Bonds shall be suspended as from 13th April 2015, so as to facilitate the process to surrender and transfer the Maturing Bonds to the Bonds.

Full details of the Bond Issue are included in the Prospectus dated 10th April 2015 which will be available on the Company's website (www.ihiplc.com) from 14th April 2015 and at Authorised Financial Intermediaries from 20th April 2015. Application forms will be mailed to holders of Maturing Bonds on 15th April 2015.

Alfred Fabri Company Secretary

10th April 2015