Indian Hotels Co. Ltd.

Indian Hotels Co. Ltd. has informed the Exchange vide their letter dated September 17, 2007, that: "At a meeting of the Board of Directors of the Company held today at Mumbai this evening, the Directors have ratified an investment of USD 211.28 million made by Samsara Properties Limited, a 100% off shore subsidiary of the company, towards acquisition of 10.01% shares in Orient-Express Hotels Limited, a company listed on the New York Stock Exchange. The investment creates a platform for the Company to seriously explore the possibility of an alliance between The Indian Hotels Company Limited and Orient-Express Hotels Limited. Such an alliance will be complementary to both organisations and of mutual benefit. To achieve this purpose, friendly and constructive discussions between the two companies are expected to take place soon. Appropriate disclosure of this investment is being concurrently filed with the Securities Exchange Commission, USA"