Raffles International Signs Deal to Manage New Deluxe Hotel in Ankara

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. October 14, 2008

SINGAPORE, December 14, 2005. Raffles International has today signed a management contract with Gulsan Insaat, Sanayi, Turizm, Nakliyat ve Ticaret A.S., to manage a new hotel development in Ankara under the Swiss^otel brand. The 150-room deluxe hotel will be named Swiss^otel Ankara and is scheduled to open in April 2006.

Meinhard Huck, Managing Director of Swiss^otel Hotels & Resorts, commented, "Turkey's phenomenal growth in the tourism sector has greatly contributed to the success of our two existing Swiss^otel properties in Istanbul and G"ocek. Riding on this success, we are indeed delighted and look forward to the opening of Swiss^otel Ankara in the Turkish Capital. Swiss^otel Ankara will deliver the finest in Swiss hospitality with its exquisite hotel facilities, and warm, efficient service. It will no doubt complement the expected increase in tourist arrivals to Turkey, given the growing demands for more exotic vacations and event venues. We are also honoured that Gulsan Insaat, Sanayi, Turizm, Nakliyat ve Ticaret A.S. has entrusted us to manage its new development in Ankara."

Mr aefik G"ul, Chairman of Gulsan Insaat, Sanayi, Turizm, Nakliyat ve Ticaret A.S., added: "The Swiss^otel brand name has gained a reputation in Turkey for offering exceptional standards of hospitality and service. We are confident that Swiss^otel Ankara, managed by Raffles International under the Swiss^otel brand, will be a popular accommodation of choice for business and leisure travelers alike. It will also be a very attractive facility which will enhance the hotel landscape of Ankara."

Swiss^otel Ankara is located in Cankaya, a prime city location within the vicinity of the presidential palace and international embassies. The hotel offers easy access to the city centre, with all major shopping streets, cafes and restaurants within walking distance. Swiss^otel Ankara is approximately 45 minutes from Esenboga airport.

The hotel will have 150 elegantly appointed guest rooms and suites equipped with the latest state-of-the-art technology and featuring an extensive range of amenities and services. An exclusive Executive Lounge will also be available for the business traveller.

Hotel facilities include three food and beverage outlets, offering a wide range of international and local specialities. For the growing MICE (meetings, incentives, conventions and exhibitions) market, the property features a meeting and conference area, with a 900sqm grand ballroom, seven meeting rooms and a spacious foyer with a capacity of up to 1500 persons. The conference and meeting areas will be equipped with the latest audiovisual systems, including simultaneous translation booths, 24-hour technical support on site, and a business centre with full secretarial services.

For total relaxation and recreation, the Amrita Spa offers a range of rejuvenating spa treatments and the traditional Turkish bath. There is also a wellness centre featuring an Olympic sized indoor swimming pool as well as a well-equipped gym.

The hotel will also offer an underground parking garage, accommodating up to 200 cars, with a valet parking service available.

Mr Michel Van der Elst has been appointed as the General Manager of Swiss^otel Ankara. Mr Van der Elst has been with Swiss^otel Hotels & Resorts for many years now and was formerly the Resident Manager of Swiss^otel The Bosphorus in Istanbul and the Area Controller in the Middle East.