Lonrho Regulatory News (LONR)

1 Oct 2007 14:02

Lonrho PLC01 October 2007 1st October 2007 Lonrho Plc ("Lonrho" or "the Company") Lonrho signs Heads of Agreement to lease and manage a 5 star, 256 room hotel in Democratic Republic of Congo Lonrho (AIM : LONR), the conglomerate with a structured portfolio of Africaninvestments, is pleased to announce that it has signed a Heads of Agreement withLuano Grand to lease and manage a 256 room, 5 star hotel at the proposed LuanoGrand development in Lubumbashi, in the Democratic Republic of Congo. Luano Grand (www.luanogrand.com ) is a proposed mix-use retail, residential,office and hotel complex that was officially launched at the South AfricanConsulate in Lubumbashi on Friday 28th September 2007. The launch was presidedover by His Excellency Moise Katumbi, the Governor of Katanga Province and anumber of Ministers of State and Government officials from South Africa andBelgium. Construction of the complex is scheduled to begin in 2008. Amongst the 300 guests attending the launch of the project were representativesof the IDC (Industrial Development Corporation) and DBSA (Development Bank ofSouth Africa). The hotel will have 256 rooms and 50 long stay apartments and is designed to beconnected to a retail mall, which in turn will have access to offices andresidential units. Lonrho Hotels, a division of Lonrho Plc, will lease andmanage the hotel and long stay apartments in the project. David Lenigas, the Chairman and CEO of Lonrho Plc, commented : "The development of Katanga Province in the DRC is being fuelled by thesignificant foreign direct investment into the mining of the copper and cobaltnatural resources in the region. Companies such as Phelps Dodge and Nikanor areinvesting an estimated US$ 4 billion in mining projects in Katanga over the nextfive years and, with this, the demand for quality accommodation and supportservices will be significant. Lonrho is delighted to be involved with thismajor, forward-looking project that will generate jobs and prosperity." ENQUIRIES Lonrho Plc +44 (0) 20 7016 5105David Lenigas, Chief Executive +44 (0)7881 825 378Emma Priestley, Executive Director +44 (0)7867 785 177 Pelham PRCharles Vivian +44 (0) 20 7743 6672 +44 (0) 7977 297903Alisdair Haythornthwaite +44 (0) 20 7743 6676 +44 (0) 7714 721379 Collins Stewart EuropeHugh Field +44 (0) 20 7523 8350Jonny Sloan NOTES TO EDITORS About LONRHO: Lonrho Plc is an expanding conglomerate that is rapidly growing a successfulbusiness throughout Africa. The Company is listed on the London AIM stockexchange (LONR). Lonrho is strategically focused on the development of businessopportunities in infrastructure, transportation, support services and naturalresources. The Company has over 20,000 shareholders and substantialinstitutional backing to support its mandate to build a profitable business thatplays a fundamental role in the development of the African economy. Since 2006, the Company has invested in or acquired control of: • Hotel Cardoso - www.hotelcardoso.co.mz (retained) • Nare Diamonds - www.narediamonds.com • Luba Freeport - www.lubafreeport.com • Fly540 - www.fly540.com • Norse Air - www.norseair.co.za • Swissta Holdings - www.swissta.com • SA Independent Liner Services • Bytes & Pieces This information is provided by RNS The company news service from the London Stock Exchange