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  Thistle Hotels Obtains Long Term Management of
The Cumberland Hotel, London
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The Former Le Meridien Hotel Will be Operated by
Thistle under a New Deluxe Brand 'Guoman'

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LONDON, England, November 15, 2004 - Situated at the top of Park Lane, close to Marble Arch, Hyde Park and just round the corner from Madonna's London home, The Cumberland hotel is now ready to share its unique fusion of design and technology with visitors from all over the world.

Newly redesigned and completely refurbished, the Cumberland meets the needs of guests seeking something different from a large, modern hotel. With 900 rooms, the hotel offers style, comfort and perfect personal service with modern British art and the latest in technology throughout.

The hotel is the first in the UK to operate under Thistle Hotels' new de luxe brand Guoman. "The Cumberland is a flagship, and the perfect hotel with which to launch the Guoman brand. It occupies a superb location at the top of Park Lane on Oxford Street, and offers a unique experience to leisure and business users alike," says Beverly King, Chief Operating Officer, Thistle Hotels.

The Cumberland experience begins the moment you enter the spacious gallery-style lobby. Artworks from some of Britain's leading contemporary artists are exhibited together with electronic projections on water and a unique sound installation. The Cumberland also offers an intimate bar, a brasserie and a fine dining restaurant with a separate breakfast and dining suite offering global cuisine.

All 900 light, airy rooms feature Egyptian cotton bed linen, thick mattresses, soft lighting, a power shower and luxurious bathrobes. Rooms all include works of art that guests can see and touch plus hi-tech features such as massive plasma screen or LCD TVs providing multiple channels, downloadable movies and music, and the ability to surf the web or self-checkout.

The Cumberland's meetings and events facilities rank among the best in London, with a completely self-contained complex featuring 26 flexible, multi-functional, air-conditioned rooms perfect for anything from private meetings to full-scale conferences.

The Cumberland is situated just off Oxford Street on Great Cumberland Place, London W1.

BIL International Limited

BILís key investments are as follows:

Thistle Hotels - 100% stake
Molokai Ranch - 100% stake
Denarau Island Resort - 100% stake

Thistle Hotels
Thistle Hotels is one of the largest hotel chains in the UK, with over 55 properties. In London alone, Thistle has 23 hotels, making it the cityís biggest hotel group.

Molokai Ranch
Molokai Ranch is a 64,000-acre property encompassing more than 40% of the island of Molokai, just 28 miles or 20 minutes by air from Honolulu. It offers a variety of investment options, luxury accommodation and unique activities for tourists. BIL International is developing this unique property, which includes rolling pastures, oceanfront residential lots and a golf course under restoration.  Also located on the property and with a sprawling view of the west end of the island, is the Molokai Ranch-owned Sheraton Molokai Lodge and Beach Village, a 22- room boutique hotel and 40 room tent platform and beach camp which offers the perfect blend of luxury and adventure.

Denarau Island Resort
Denarau Properties is BILís wholly-owned property asset in Fiji. During the 2002 Financial Year, important progress was made towards realising value by further sales in three residential projects, as well as the planning of hotel and retail projects. During the year, we also appointed a professional golf management company to manage the golf course which is jointly owned with Starwood. BIL expects its Denarau asset to continue to produce positive cashflow from continued land sales and developments over the coming years.


 
Contact:
The Cumberland
http://www.thecumberland.co.uk
Also See: London Bridge Holdings Ltd and More London Development Ltd Developing the 245 room Hilton London Tower Bridge at More London / April 2004
The Royal Bank of Scotland Signs Marriott International as Operator of Grosvenor House Hotel in London and the Shelbourne Hotel in Dublin, both Former Le Meridiens / February 2004
Robert Peel, Ousted as Chief Executive of Thistle Hotel Group Eight Years Ago, Bounces Back with Another Hotel Business / February 2004


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