Environmentally friendly Residence Belgicka

Prague, 28th March 2007: MaMasion Hotels & Apartments, a brand of ORCO Property Group, has been supporting the strategy of "sustainable development" since the last year. The Residence Belgická, included in the company's portfolio, is thanks to its size and flexibility one of the first projects that practices this programme. For its attitude to the environment, the Residence Belgická was recognized as "Environmentally Friendly Service" and awarded "Eco Flower Label" as well as it was granted the licence to use the Czech Eco Label by the Ministry of the Environment of the Czech Republic. The Residence took part in the Eco Label selection procedure on 14th March 2007 and sequentailly fulfilled all the conditions defined by the MoE directive No. 43-2005 and the EU regulation for the "Tourist Accommodation Service".

Eva Šibřinová, the General Manager of Residence Belgická, says: "We are very happy that MaMasion Hotels & Apartments, with its Residence Belgická, is one of the pioneers in following the environmental principles on the Czech hospitality market. I am proud of the fact the the hard work of our team was awarded the Eco Label. The main privilege of using this label is the resulting international recognition and preferences within the scope of travel movement in EU."

Eco-labelling is a term used to refer to products (and services), which are friendlier towards the environment and the health of the consumer during their entire life cycle. Meanwhile, their quality remains very high.

Consumer products (and services) are marked with a logo, which serves as a clear and comprehensible indication for the customer that the marked product (service) was subjected to evaluation by an independent third party, which has already guaranteed the quality of 330 products. Currently, more than 82 Czech and foreign companies use the Eco-label on one or more products and this number is constantly growing.

Eco-labelling services will receive a state-guaranteed certification of a higher utility value on the basis of passing strict tests and thereby verifying compliance with qualitative and environmental requirements, as well as an international recognition which proves that the product is environmentally friendly and recommendation to customers from a number of environmental NGOs.

Residence Belgicka is located in the leafy Prague district Vinohrady just a few steps from Namesti Miru. The classic Art Nouveau building decked out in a vibrant, yet soothing, feng-shui style offers 30 stylish luxury serviced apartments renovated by famous designer Barbara Skorpilova. Thanks to its size and character, the residence offers guests high standards and personal attention. One major advantage of Residence Belgicka over classic hotel chains is its inherent flexibility and readiness to assist in any way – both in terms of visiting guests and the local environment.

The Residence continues to undergo improvements in its design. MaMaison Hotels & Apartments has invested much into the development and maintenance of this luxurious project. Recent reconstruction of the meeting room, which guests can use (free of charge) for various business meetings or gatherings with friends, has been completed, as well as a billiard room for free time. Apartments are equipped with modern kitchens, ideal for those enjoying an extended stay at the residence. Additional high standard room or delivery service ensures that all class of guest has immediate access to top flight catering and cuisine. Internet, free of charge is also available; the lobby supports WI-FI connection and the apartments have ADSL. Guests at the Residence can enjoy 24 hours access to the fitness centre and sauna, with unlimited use of the health club (including swimming pool) in fellow Americka, just a few meters away.

Guests are predominantly from English speaking countries, here for extended stay; generally representatives of international companies, enjoys the unique style of accommodation until international projects are finished or until they have found some private property. Thanks to it additional capacity as a short stay residence, weekends and holidays in Residence Belgicka are 100% booked. Proof of this residence’s ongoing success is that guests continue to return or even sign long term company contracts.

Notes for editors:

ORCO Property Group is a leading investor, developer and asset manager in the Central European real estate and hospitality market, currently managing assets of approximately EUR 1,3 billion as estimated on 31/12/2006. Operating in Central Europe since 1991, ORCO Property Group is a public company, based in Luxembourg, and listed on both the Euronext and Prague Stock Exchange. ORCO Property Group’s portfolio includes, IPB Real, MaMaison Hotels & Apartments, Viterra Development, ORCO Real Estate, and other retail properties. ORCO Property Group operates in a number of countries including, mainly, the Czech Republic, Hungary, Poland, Russia, Croatia, Germany and Slovakia. ORCO Property Group is continually analyzing investment into new territories. ORCO Property Group is also sponsor and manager of the Endurance Real Estate Fund for Central Europe, a Luxembourg–regulated, closed–end umbrella fund whose total subscribed capital represents EUR 141.6 million, and which currently manages assets of approx. EUR 160 million. Estimated total value of the Fund’s portfolio after investment of full subscribed capital is ca. EUR 500 million. The Endurance Fund is dedicated to institutional investors and focuses on acquisitions in Central European real estate markets. ORCO has opened a second sub fund in the ENDURANCE umbrella fund, with an initial equity target of EUR 100 million. The fund started its activities in October 2006, is dedicated to institutional investors, and focused on the acquisition, development, management and disposition of middle class and luxury residential properties located across Central Europe, Germany, Croatia, and Russia.

MaMaison Hotels & Apartments

A brand of ORCO Property Group, operating all hospitality products. These products are the most luxurious of their kind and excel in design originality and high levels of service. Some MaMaison Hotels & Apartments properties belong to the very prestigious group, Small Luxury Hotels of the World and Hotels & Preference.

MaMaison Hotels & Apartments is a new brand, established by the union of two hospitality divisions, MaMaison Residences and ORCO Hotels Collection.

This brand currently operates the following properties in Central Europe:

Prague (Czech Republic):

- Hotel Pachtuv Palace (www.pachtuvpalace.com)

- Riverside Hotel (www.riversideprague.com)

- Residence Belgicka (www.mamaison.com)

Ostrava (Czech Republic):

- Imperial Hotel (www.imperial.cz)

Bratislava (Slovakia):

- Residence Sulekova (www.residence-sulekova.com)

Warsaw (Poland):

- Hotel Le Regina (www.leregina.com)