Pokrovka Suite Hotel Moscow - new Mamaison property

Prague | 22^nd February 2007: MaMaison Hotels & Apartments, a brand of Orco Property Group, is nearing completion on the newest member of its collection, Pokrovka Suite Hotel. Located in the very heart of the lively and cosmopolitan Russian capital, Pokrovka will be Moscow’s first genuine all-suite hotel. The grand opening of this luxurious 5star hotel will take place in May 2007. Pokrovka Suite Hotel is the first Russian property in MaMaison Hotels & Apartments’ collection.

“Pokrovka Hotel & Apartments is unique in the MaMaison collection. Our normal strategy is to source investment opportunities with a particular focus on buildings of an historical nature. In the past we have successfully renovated and reconstructed a number of historical properties across the Central and Eastern European region, retaining the local atmosphere and cultural heritage of each.

Pokrovka is MaMaison’s very first complete new construction. Located on a site of historical note in the Russian capital, it presented a unique set of development challenges. Simply gaining development permission for such a location in the very heart of downtown Moscow is a tribute itself to the reputation and recognition of MaMaison and its renowned hospitality collection.

We are very proud of Pokrovka Suite Hotel, our first venture onto the Russia market. We believe it encompasses all the unique attributes integral to the MaMaison brand and concept across the region. I hope that future guests of Pokrovka Suite Hotel will appreciate its enviable combination of modern elegance and age-old charm,”states Daniel Penet, Director of Sales and Marketing for MaMaison Hotels & Apartments.

Pokrovka Suite Hotel is located on Pokrovka Street, between the Garden and Boulevard Rings in the northern part of downtown Moscow. Historically, the Pokrovka area connected the Kremlin to the royal residence and mansions in the countryside. Nowadays, the Pokrovka area has developed into the chosen location for upscale offices, chic cafes, restaurants and boutiques.

Pokrovka, exclusively designed by Jestico+Whiles, will become the first genuine all-suite hotel in the Russian capital featuring an exquisite restaurant and state-of-the-art SPA, underground parking and business centre with the latest technical equipment. MaMaison Pokrovka Suite Hotel has 84 suites, with individual categories featuring a different lay out, view and decoration. Interior design, inspired by the latest trends in residential style, has adopted and combined elements from the “modern” thirties – openness and lots of light – and from the fifties – pastel colors and interesting shapes.

On this occasion, MaMaison Hotels & Apartments would also like to present Fedor Filimonov, the new General Manager of Pokrovka Suite Hotel.

In this role, Fedor will be responsible for managing the day to day operations of the 5star Pokrovka Suite Hotel. Fedor was born in Moscow, Russia. His background encompasses over 16 years in Hotels/Resort Management. Most recently, Fedor was Hotel Director for the largest Cruise Company, Royal Caribbean International, in Miami, Florida.

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)