Proposed Acquisition of Hotel in Chelsea, London

For Immediate Release 24 December 2013

Proposed Acquisition of Hotel in Chelsea, London

Millennium & Copthorne Hotels plc ("M&C") is pleased to announce that it will extend its global hotel portfolio with the acquisition of a new property in the Chelsea district of London, England.

Millennium Hotels (West London) Limited (the "Company"), a wholly-owned subsidiary of M&C, on 23 December entered into conditional purchase and sale agreements with subsidiaries of Harcourt Developments Limited, an Ireland-based development company, for the acquisition by the Company of the leasehold interest in a hotel located within the Chelsea Harbour mixed-use development in London, SW10 0XG, and its related hotel assets (the "Hotel"). The Hotel is a luxury property that borders the River Thames and offers 154 suites and 4 penthouses. The primary lease to be acquired has a remaining term of approximately 98 years.

The purchase price for the Hotel is £65 million, subject to standard purchase price adjustments, and completion of the acquisition is expected to occur during the first quarter of 2014.

M&C Chairman Kwek Leng Beng said, "We are delighted to be acquiring this property which will fit very efficiently into our existing portfolio of London properties. The Chelsea Harbour is one of the few hotels in the city to offer all-suite guest accommodation and is situated in a prestigious riverside area that will be going through further transformation and improvement in the near future."

Enquiries:

Millennium & Copthorne Hotels plc Tel: +44 (0) 20 7872 2444

Jonathon Grech, Group General Counsel and Company Secretary

John Chang, Chief Financial Officer

Peter Krijgsman - Financial Communications (Media)