International Hotel Investments Plc

Capital/Financing Update • Jul 21, 2016

COMPANY ANNOUNCEMENT

€55 million 4% Secured Bonds 2026

International Hotel Investment p.l.c. (The 'Company') is pleased to announce that the issue of €55,000,000 4% Secured Bonds 2026 (the 'Bonds') has been heavily oversubscribed with applications exceeding €148 million. As a result, the public offer which opened on 20th July 2016 closed on the same day.

Existing IHI shareholders had been given preference to subscribe to the first €30 million of the Bonds while the remaining €25 million was offered to the general public. In terms of the prospectus, the Company will be announcing the basis of acceptance and the allocation policy by not later than 27th July 2016.

The Board of Directors wishes to thank the shareholders of the Company, financial intermediaries and the investing public for their support.

Alfred Fabri Company Secretary

21st July 2016