IHC Presents at The Second Annual Bear Stearns and Motilal Oswal India Conference; Jason Ader Contrasts the Overheated Indian Luxury Hotel Market with the Significant Mid-Market Opportunities

London, United Kingdom

India Hospitality Corporation, the special purpose acquisition vehicle focussing on the Indian hospitality sector, is pleased to announce that following its successful debut on London's AIM last week after raising $100m, its Chief Executive Jason Ader addressed Tuesday's Second Annual Bear Stearns and Motilal Oswal India Conference in New York.

At the Conference, Jason Ader said: "While overheating of the Five Star deluxe real estate market in Mumbai and New Delhi has resulted in luxury hotel prices being extremely overvalued, I see substantial growth opportunities for IHC in mid-market hotels in secondary cities including Chennai, Hyderabad and Pune."

Details on the recent listing on AIM include:

-- IHC raised $100m at $6.00 per unit, closing its first week of trading at a premium of 12% to the placing price of $6.70 per unit.

-- The management team is headed by Jason Ader, who has a proven track record in research and investment within the hospitality sector. Mr Ader was one of the youngest ever Senior Managing Directors with Bear Stearns & Co before founding New York based investment manager, Hayground Cove.

-- IHC is targeting multiple acquisitions in fast-growing Indian cities and top tourist destinations in India.

IHC and the Indian Hospitality Market:

-- At 7-8% GDP growth, India has one of the fastest growing economies in the world.

-- The Indian hospitality industry is largely driven by its domestic market, particularly domestic tourism which grew 13.7% CAGR between 2000 and 2004.

-- IHC sees substantial opportunities in mid-market hotels in secondary cities to include Chennai, Hyderabad and Pune.

-- The rapid expansion of Indian middle class with increasing disposable income has risen from 300million people in 2005 to 500million in 2010 which, coupled with the growth in low cost travel, is fuelling further growth in domestic tourism.

-- Recent Government initiatives have addressed the significant imbalance in supply and demand across the sector, highlighting the growth potential, especially ahead of the 2010 Commonwealth Games.

Management

Directors and Executive Officers

The Company's current Directors and Executive Officers are as follows:


 Name                        Age         Position

 ----------------------------------------------------------------------

 Jason N. Ader                           Chief Executive Officer and

                                          Chairman of the Board of

                             38           Directors

 Andrew Sasson               36          Executive Director

 Raj Nandiwada               41          Executive Director

 Christa Short               33          Director

 Pawan Munjal                51          Director

 Anthony Juliano             39          Director

 Manvinder Puri              51          Director

 Rajeev Talwar(1)            51          Prospective Director

(1) Mr. Talwar is not currently a member of the Board of Directors of the Company. His appointment will only occur if and when he receives final approval by the requisite Indian governmental agencies of his resignation from his positions as Additional Director General, Ministry of Tourism and the Chairman and Managing Director of India Tourism Development Corporation. There can be no assurance that he will receive such approvals.

Jason N. Ader is the Company's Chief Executive Officer and Chairman of the Board of Directors. Mr. Ader founded and serves as the President and Chief Executive Officer of Hayground Cove Asset Management LLC, a New York-based investment management firm with approximately $1.46 billion of assets across funds and accounts under management as of May 31, 2006. Mr. Ader has a strong asset management record and, prior to founding Hayground Cove, served as a Senior Managing Director at Bear Stearns & Co. Inc., from 1995 to 2003, where he performed equity and high yield research for more than 50 companies in the gaming, lodging and leisure industries. From 1993 to 1995, Mr. Ader served as a Senior Analyst at Smith Barney covering the gaming industry. From 1990 to 1993, Mr. Ader served as a buyside analyst at Baron Capital, where he covered the casino industry. Mr. Ader has a B.S. degree in Economics from New York University and a M.B.A. in Finance from New York University, Stern School of Business.

CONTACT: Buchanan Communications for India Hospitality Corporation Richard Oldworth 07710 130 634 Amy Rajendran 020 7466 5122

CONTACT: Buchanan Communications for India Hospitality Corporation Richard Oldworth 07710 130 634 Amy Rajendran 020 7466 5122, ,

Source: Business Wire (Business Wire India)

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