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Acquisition of new Inter-Continental Hotel in New York

Acquisition of new Inter-Continental Hotel in New York

Bass PLC announces today, 16 July 1999, that Bass Hotels & Resorts has acquired a 208-room hotel, on Central Park South in New York, from Starwood Hotels and Resorts. It will be re-branded as an Inter-Continental Hotel and will be known as the Central Park Inter-Continental New York.

The consideration of $62.5 million is not material in relation to the net assets of Bass PLC.

Commenting on the deal, Tom Oliver, Chief Executive of Bass Hotels & Resorts said:

"New York is one of the world's most dynamic and exciting business destinations and our expansion in Manhattan plays a pivotal role in our strategy to grow the Inter-Continental brand."

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For further information, please contact:

Richard North, Finance Director     0171 409 1919
Mark Rigby, Media Relations     0171 409 8153
Jonathan Atack, Investor Relations     0171 409 8571
Melanie Brandman, Bass Hotels & Resorts     001 770 604 2000

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