APSLEY HOTELS LIMITED (registered number: 1036984)

Notice is hereby given, pursuant to section 175 of the Companies Act 1985 (the “Act”) that at an Extraordinary General Meeting of the above-named Company (the “Company”) convened and held on 1st December 1999, the Company approved by Special Resolution, the redemption by the Company of all the 115,000 redeemable ‘C’ preference shares of £1 each in its capital for the aggregate sum of £70,039,815; and the funding of part of such redemption, in the sum of £45,752,389, out of the capital of the Company in accordance with section 173(2) of the Act. The statutory declaration of the Directors of the Company and the auditor’s report required by section 173(5) of the Act are available for inspection at the registered office of the Company at 20 North Audley Street, London W1Y 1WE. Any Creditor of the Company may at any time within the 5 weeks immediately following 1st December 1999, apply to the court under section 176 of the Act for an Order cancelling the Resolution for payment out of capital or for other relief.