JJW Hotels & Resorts Adds Arc de Triomphe Hotel to its Expanding Portfolio

PARIS - 18th March 2003: It was announced that JJW Hotels & Resorts, the hotel group subsidiary of MBI International & Partners had purchased the Hotel Pierre Paris, for the sum of €11M.

This hotel will be known as Median Paris Arc de Triomphe.

Located in the heart of the 17eme arrondissement, within minutes from the Champs Elysees, the 50 room hotel will become the flagship of the Median brand and complement the portfolio which has recently been strengthened with the newly re-branded Median Paris Porte de Versailles and the forthcoming re-opening of Median Paris Saint Lazare. Median Hotels represent the JJW Hotels & Resorts mid-range activity, offering conveniently located, top of the range three star properties with F&B facilities.

Hotel Median Paris Arc de Triomphe is the latest acquisition in JJW Hotels & Resorts 75 strong group which also includes such prestigious properties as the Five Star The Grand Hotel Wien in Austria and the Pinheiros Altos luxury golf resort in Portugal.

Editors' Notes:

JJW Hotels & Resorts is a wholly owned subsidiary of MBI International & Partners, the global entity that combines the companies of Mohamed Bin Issa Al Jaber. MBI International is an influential business and community leader in Europe and the Middle East with a portfolio of business interests in a wide range of commercial sectors including hotels and resorts, development and investment, as well as the food industry. Operating through a corporate headquarters in London, MBI International has significant operations in France, Portugal, Austria, Egypt, Lebanon, Jordan and Saudi Arabia.