GHL Gresham Hotel

RNS Number:8208Y
Gresham Hotel Group Plc
18 May 2004

                            Gresham Hotel Group plc
                             Statement Re Approach

18th May 2004

On the 23 April 2004, the Board of Gresham Hotel Group plc ('Gresham' or the
'Board') announced the revised approach from a consortium of investors ('the
Consortium') at a level of Euro1.30 per share which contains an acceptance
condition of 54% of the ordinary shares.  The revised approach also contains a
provision that if an offer is made, the level of the offer will increase to
Euro1.35 per share, if the level of acceptances reaches 80%.

The Board and the Consortium continue to move forward with a view to the
Consortium announcing a firm intention to make an offer this week.

This announcement and the approach do not constitute a firm intention to make an
offer and, therefore, there can be no certainty that an offer will result.

A holder of 1% or more of the shares of Gresham may have disclosure obligations
under Rule 8.3 of the Irish Takeover Panel Act, 1997, Takeover Rules, 2001,
effective from the date of this announcement.


Enquiries:

Mon O'Driscoll    Managing Director, AIB Corporate Finance        Tel: + 353 1 667 0233

Patrick Coyle     Managing Director, Gresham Hotel Group plc      Tel: + 353 1 817 6209

Fiona Gillespie   Communications Consultant                       Mob: + 353 87 250 2447


AIB Corporate Finance Limited, which is regulated in Ireland by the Irish
Financial Services Regulatory Authority under the Investment Intermediaries Act
1995, is acting for Gresham and for no one else in relation to the matters
described in this announcement and will not be responsible to anyone other than
Gresham for providing the protections afforded to clients of AIB Corporate
Finance Limited or for providing advice in relation to the matters described in
this announcement.

This announcement does not constitute an offer or an invitation to purchase any
securities.

The Directors of Gresham accept responsibility for all the information contained
in this announcement.  To the best of the knowledge and belief of the Directors
of Gresham (who have each taken all reasonable care to ensure that such is the
case), the information contained in this announcement is in accordance with the
facts and does not contain anything likely to affect the import of such
information.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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