Following a strong demand for the 6.25 per cent €25,000,000 Bond issue, International Hotel Investments plc (IHI) has announced its allotment policy.

Holders of 5 per cent IHI Convertible Bonds 2009 (the ‘Maturing Bonds’) – applications received from holders of the Maturing Bonds will be met in full, including any rounding up to the nearest thousand. Any excess applications received from these investors are subject to the allocation policy applied to preferred applicants as follows:

Preferred Applicants – applications received from investors who already hold investments in one or more of the Corinthia Group’s listed companies will be met in full up to the first €20,000. Any balance on these applications will be scaled down to circa 14.3 per cent and any unallocated balances thereafter will participate in the allocation policy applicable to the general public.

General public applicants and unallocated applications from preferred applicants (at the preferential stage) – will be met in full up to the first €6,500 and the remaining balances scaled down to 11.99 per cent.

This, in effect, means that applications up to €27,600 from preferred applicants, accounting for 97 per cent of applications received from the said applicants, and 69 per cent of applications received from the general public, will be accepted in full.

Interest on the bonds will start from the date of this announcement. Allotment letters and refunds of un-allocated monies will be paid by Monday, 12 April by direct credit to the bank account indicated on the respective application forms.