Board Announcement

20 Sep 2006 08:50

India Hospitality Corp.20 September 2006 For Immediate Release 20 September 2006 INDIA HOSPITALITY CORPORATION PLC BOARD APPOINTMENT India Hospitality Corporation, the AIM-listed special purpose acquisitionvehicle focusing on hospitality, leisure, tourism, travel and related businessesin India, is pleased to announce the appointment of Rajeev Talwar (51) to theBoard as a Director. The appointment is effective immediately. Mr Talwar was until recently Additional Director General (Ministry of Tourism)for the Government of India and also Chairman and Managing Director of the IndiaTourism Development Corporation, which manages government owned hotels, travelagencies and duty free shops. He was also Chief Executive Officer of theNational Council for Hotel Management and Catering Technology. Prior to joining the Ministry of Tourism, Mr Talwar was assigned to the DelhiGovernment where he managed many portfolios. He was the Principal SecretaryTransport and Tourism through 2004. He was earlier Special CommissionerTransport in 2001. He was a Director on the Board of the Delhi Metro RailCorporation in 2001 as well as through 2004. He was Managing Director and ChiefExecutive Officer of Delhi Tourism from August 2001 to December 2003 where hewas responsible for the implementation of the entire tourism policy of Delhi. Hewas also Secretary Environment in 1999-2000 and Secretary Information and PublicRelations Department from June 1999 to January 2005. From July 2004 till January2005 he was also Chairman and Managing Director of Delhi TransportationCorporation. Mr Talwar has been in the Indian Administrative Service (IAS) since hisinduction in 1978. During his 28 year career he has had extensive experience atsenior management level, being involved in policy making as well as havingwidespread field experience. His extensive career includes experience in civilaviation, tourism, labour, shipping, roads, inland waterways, coal and foodprocessing. As a result of his position, Mr Talwar has had exposure tomanagement of a large number of public and private sector enterprises along withstatutory bodies in the transport, tourism and infrastructure sectors. Mr Talwar holds a B.A. (Honours in History) and M.A. (History) from St.Stephen's College, Delhi. Commenting on the appointment, Jason Ader, Chairman and Chief Executive said: "We are delighted to announce Rajeev's appointment to the Board of IndiaHospitality Corporation. We are confident that his impressive breadth ofknowledge, skills and experience across Government and Corporate life willgreatly assist us in our future development." No further information falls to be disclosed under the AIM rules. For further information please contact: India Hospitality CorporationJason Ader, Chief Executive 001 212 445 7800Buchanan CommunicationsRichard Darby, Mark Edwards 020 7466 5000 Notes to Editors India Hospitality Corp. ("IHC") is a Special Purpose Acquisition Corporation(SPAC) created to partner with a privately owned hospitality related business inIndia. The recent $100m fundraising on AIM makes IHC the largest SPAC focused onfast growing Indian cities and top tourist destinations in India. The management team is headed by Jason Ader, who has a proven track record inhospitality sector investment and research and was previously Senior ManagingDirector with Bear Stearns & Co before founding New York based investmentmanager Hayground Cove. This information is provided by RNS The company news service from the London Stock Exchange