GHL Gresham Hotel

RNS Number:7617Z
Gresham Hotel Group Plc
08 August 2002

                            Gresham Hotel Group plc

                                 Result of EGM

Euro Sea Hotels N.V. and Irish River Holdings B.V. (together "Red Sea") who own
28% of the voting share capital of Gresham Hotel Group plc ("Gresham" or "the
Company") requisitioned an Extraordinary General Meeting ("EGM") of the Company
which was held yesterday. The resolutions proposed by Red Sea involved the
removal of four of the seven Board members, including Mr. Sean Henneberry, the
joint Chairman and the appointment of three persons proposed by Red Sea to the
Board.

Following the conduct of the poll on the resolutions yesterday afternoon and
evening, Mr. Donal Chambers (senior non-executive director), the Chairman of the
meeting duly declared the result of the vote (by way of poll) on resolutions 1-
7 put to the EGM (resolution 8 having been ruled out of order and irrelevant,
with the agreement of Red Sea) as follows:

Resolution 1, to remove Mr Patrick Bourke as a director:

                           Number of shareholders      Number of votes of         
Percentage vote
                                                       shareholders
In favour                  378                         29,003,946                 
54.65%
Against                    2,172                       24,064,210                 
45.35%

Resolution 2, to remove Mr David Bunworth as a director:

                           Number of shareholders      Number of votes of         
Percentage vote
                                                       shareholders
In favour                  381                         30,361,856                 
57.21%
Against                    2,178                       22,713,253                 
42.79%

Resolution 3, to remove Mr Sean Henneberry as a director:

                           Number of shareholders      Number of votes of         
Percentage vote
                                                       shareholders
In favour                  376                         30,319,039                 
57.14%
Against                    2,176                       22,743,748                 
42.86%

Resolution 4, to remove Ms Laura Magahy as a director:

                           Number of shareholders      Number of votes of         
Percentage vote
                                                       shareholders
In favour                  438                         30,701,208                 
57.85%
Against                    2,172                       22,371,369                 
42.15%

Resolution 5, to appoint Mr Tom Byrne as a director:

                           Number of shareholders      Number of votes of         
Percentage vote
                                                       shareholders
In favour                  495                         31,112,785                 
58.63%
Against                    2,057                       21,954,447                 
41.37%

Resolution 6, to appoint Mr Harvey Soning as a director:

                           Number of shareholders      Number of votes of         
Percentage vote
                                                       shareholders
In favour                  405                         29,177,864                 
55.00%
Against                    2,144                       23,869,724                 
45.00%

Resolution 7, to appoint Mr Amos Pickel as a director:

                           Number of shareholders      Number of votes of         
Percentage vote
                                                       shareholders
In favour                  392                         29,215,155                 
55.05%
Against                    2,161                       23,852,733                 
44.95%

He therefore declared that resolutions 1 - 7 were duly passed.

The passing of these resolutions has resulted in a new Board of the Company,
comprising three existing members, namely, Mr. Donal Chambers, Senior
Non-Executive Director, Mr. Bobbie Bastow, Finance Director and Mr. Patrick
Coyle, Chief Executive and Chairman, and three new directors, all Non-Executive
Directors, namely, Mr. Amos Pickel, Mr. Harvey Soning and Mr. Tom Byrne.

Mr. Coyle, in a statement after the meeting said "Following the results of the
poll at today's EGM, while we are sorry to lose the departing directors for
whose contribution to the Board over many years we are extremely grateful, I am
pleased to welcome the three new Directors to the Board of Gresham. In my
capacity as Chairman, I will act to ensure that as a Board we shall act in the
interests of the body of shareholders as a whole. Together with the continuing
Board members I look forward to the contribution that the new directors can
bring to the Board as we share the common purpose of the creation of shareholder
value, in what are difficult times for the hotel sector."

For further information contact:

Mr. Patrick Coyle, Chief Executive and Chairman of Gresham Hotel Group plc on 
+ 353 1 817 6209;

Robert Bastow, Finance Director of Gresham Hotel Group plc on + 353 1 817 6209;

Fiona Gillespie, Communications Consultant + 353 87 250 2447.




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