County Hotels begins tendering for 8½% notes

New York, June 30 - County Hotels Group plc said that it has begun a cash tender offer for any or all its £58 million of outstanding 8½% senior secured notes due 2007.

County, a U.K.-based lodging company, had announced on June 15 that it was planning to shortly mount a cash tender offer for the notes, in the context of the company's strategic review of its hotel portfolios.

The company said that the tender offer was being made upon the terms and subject to the conditions set out in the official tender invitation dated June 30.

JP Morgan Chase Bank in London will be the tender agent for the offer (call 011+44 (0) 207 777 9467). J.P. Morgan Bank Luxembourg SA is the Luxembourg intermediary tender agent (call 011 + 352 4626 85 732 or 011 + 352 4626 85 496).

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