Hilton Hotels Corporation is one of the leading global hospitality companies.

As of April 2007 there are 2,645 hotels and 485,000 rooms employing 101,000 people in more than 80 countries. The company owns, manages or franchises a portfolio of brands, including Hilton, Conrad Hotels, Doubletree, Embassy Suites Hotels, Hampton Inn, Hampton Inn & Suites, Hilton Garden Inn, Hilton Grand Vacations, Homewood Suites by Hilton, and The Waldorf-Astoria Collection. It was founded by Conrad Hilton in Cisco, Texas and now has headquarters in Beverly Hills, California. Aiming to offer top class service to its guests, Hilton has become a leader in the hospitality industry. The company is around 5% owned by the founding family. On July 3, 2007, Hilton announced it would be bought out by the Blackstone Group in an all cash deal valued at $26 billion USD. The buyout was completed on October 24, 2007. Hilton brands • • • • • • • • • • • Hilton Hotels Conrad Hotels Doubletree Embassy Suites Hotels Hampton Inn Hampton Inn & Suites Hilton Garden Inn Hilton Grand Vacations Company Homewood Suites by Hilton The Waldorf-Astoria Collection LivingWell Health Clubs operates health and fitness clubs in the group's hotels. It also includes a chain of standalone clubs, which are mainly in the UK, but has a small number of branches in other countries.

DLF Hotels is an integrated hospitality development and ownership company focused on premium segment hotels, resorts, serviced apartments, and family recreational clubs. DLF Hotels has a vision to be India's leading hospitality development and asset Ownership Company, and amongst the largest such companies globally. The company develops, acquires, finances and actively manages a rapidly growing hospitality portfolio. With approximately 6,000 rooms under current development in most major cities and tourist destinations in India, DLF Hotels is on track to create a portfolio of 25,000 rooms in the next 5 years. DLF Hotels is a strategic investor in the world famed Amanresorts Group. Amanresorts is the world’s leading hospitality and lifestyle business. The group currently owns and operates 22 luxury hotels, many with residences, in 12 countries. DLF Hotels is the hospitality development arm of DLF Ltd, India’s largest and most reputed real estate development company.

Luxury and Business Hotels DLF Hotels, and through its joint venture with Hilton Hotels, DLF-Hilton Hotels, is developing a chain of business hotels and serviced apartments throughout India. The developments include world renowned hotel brands such as the Conrad, Hilton, Hilton Garden Inn and serviced apartment / extended stay products such as Hilton Residences and Homewood Suites. With 5,000 rooms under active development, the DLF-Hilton together will create 50-70 hotels and serviced apartments across India by 2012. DLF Hotels has also signed an agreement with Four Seasons Hotels and Resorts to operate a luxury hotel at DLF Golf Links, in Gurgaon. Targeted to open by end 2010, Four Seasons Hotel Gurgaon will be located at the DLF Golf & Country Club in DLF City, Gurgaon. The 230 room Hotel will overlook the picturesque 18-hole, Arnold Palmer Signature Golf Course, and will feature several dining options, a full feature spa, as well as facilities for meetings and functions.

PARTNERS Amanresorts Group In the high-end travel community, Aman is recognised as one of the pre-eminent and most innovative luxury hotel groups in the world for its ability to create unique resort destinations. Aman positions itself as a lifestyle alternative rather than simply a lodging plus food and beverage product. The Aman concept aims to provide the affluent leisure traveller with superior service in luxurious surroundings. Each resort embodies the same principles and philosophy: environmentally friendly and aesthetically pleasing settings; a design that is quietly contemporary and in cultural harmony with its surroundings; service that emphasizes the individual; and a resort size that assures a personal and a memorable guest experience.. The luxury of the setting is matched by impeccable service and attention to details that leave the guests with a memorable experience. Aman has repeatedly been recognized by travel publications including Condé Nast, Travel & Leisure, Gallivanter’s Guide, Harper’s Hideaway and Zagat Survey, as the preeminent, high-end hotel company in the world for its ability to create unique resort destinations. Hilton Hotels Corporation Hilton Hotels Corporation is the leading global hospitality company, with more than 2,800 hotels and 480,000 rooms in 76 countries and territories, including 100,000 team members worldwide. The company owns, manages or franchises a hotel portfolio of some of the best known and highly regarded brands, including Hilton®, Conrad®, Doubletree®, Embassy Suites Hotels®, Hampton Inn®, Hampton Inn & Suites®, Hilton Garden Inn®, Hilton Grand Vacations™, Homewood Suites by Hilton® and The Waldorf=Astoria Collection®. The Hilton Family of Hotels adheres to founder Conrad Hilton's philosophy that, "It has been, and continues to be, our responsibility to fill the earth with the light and warmth of hospitality." The company put a name to its unique brand of service that has made it the best known and most highly regarded hotel company: be hospitable®. The philosophy is shared by all brands in the Hilton Family of Hotels, and is the inspiration for its overarching message of kindness and generosity.

About HILTON-DLF Joint Venture Hilton International has firmed up its plans for a 26:74 joint venture with DLF group for hotel business in India. Hilton, one of the world’s largest hotel companies, will bring in $143m to the venture DLF will hold 74% in the JV Company, and Hilton will hold the remaining minority stake as a symbol of its commitment to the venture The joint venture company plans to develop and own 75 hotels and serviced apartments over the next seven years. The JV-owned hotels will represent several brands from the Hilton Hotels Corporation portfolio, including Hilton Hotels, Hilton Garden Inn, Homewood Suites by Hilton and Hilton Residences The JV Company will develop and build these properties, while Hilton will manage them. Over the next five to seven years, Hilton will invest up to USD 143 million in the JV Company, before consideration of debt. The initial stage of the joint venture will involve 20 hotels in a number of key locations, including Chandigarh, Chennai and Kolkata A large number of these hotels are expected to be Hilton Garden Inn properties -- a business hotel brand, offering focused service Beyond the initial 20 sites, the JV Company will continue to identify and acquire sites and undertake new hotel developments Hilton’s average revenue per room in the Asia-Pacific region grew about 15% in the first three months of this year, Klein said. The development of the first few hotels will be financed with equity from the joint venture

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Hilton will build its Hilton Hotels and Hilton Garden Inn brand in India, a move made possible by its $5.7 billion purchase of UK-based Hilton Group. The JV-owned hotels will represent several brands from the Hilton Hotels Corporation portfolio, including Hilton Hotels, Hilton Garden Inn, Homewood Suites by Hilton and Hilton Residences. The JV Company will develop and build these properties, while Hilton will manage them. The initial stage of the joint venture will involve 20 hotels in a number of key locations, including Chandigarh, Chennai and Kolkata. A large number of these hotels are expected to be Hilton Garden Inn properties -- a business hotel brand, offering focused services. Beyond the initial 20 sites, the JV Company will continue to identify and acquire sites and undertake new hotel developments in due course of time. This will be the first direct investment by the $4.4-bn Hilton group in India. The Indian partner’s contribution to the JV will be purely in terms of its land, which will be brought in as equity to the venture The JV will be involved in developing the properties and make downstream investment in companies engaged in hospitality business. The downstream investment either through acquisition or direct investments will involve a strategic equity stake between 26% and 100% in such companies. It is learnt that DLF’s equity contribution to the JV will be via its land whose value is pegged in the $400-450-m region. It has already identified 30-odd sites across the country for the venture including some service apartments in selected cities The JV is also expected to be involved in the business of service apartments, which may be located in the vicinity of the hotels. These service apartments will be under the Hilton Residence and Homewood Suites’ brands. This apart Hilton also has existing hotel management arrangements in Shilim in Maharashtra, Bangalore, Hyderabad and Chennai. The 3,000acre 100-villa resort, Shilim Retreat by Hilton may be launched in ’07.

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Hilton is also planning to introduce other global brands including Conrad, Hampton Inns and Scandic into India. The first 10 sites where the Hilton-DLF joint venture will open hotels are as follows:

1. Hilton Garden Inn, Saket 2. Hilton Garden Inn Rohini, New Delhi 3. Hilton Garden Inn Mysore, Karnataka 4. Hilton Whitefield Bangalore 5. Hilton Kolkata 6. Hilton Garden Inn Bhubaneshwar 7. Homewood Suites Bhubaneshwar 8. Hilton Garden Inn Hyderabad 9. Homewood Suites Hyderabad 10. Hilton Goa Convention Centre In line with this strategy, Hilton Hotels Corporation has recently named plans to open 1,000 hotels in the USA in the next 5 years and 1,000 hotels outside North America in the next 10 years. A key area of focus for development is the Indian market, where the Company aims to develop and own 50 to 75 hotels here over the next 5 to 7 years thorough its partnership with DLF, India’s largest developer.

Major Facts about DLF-HILTON Joint Venture

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26:74 joint venture Joint venture company plans to develop and own 75 hotels and serviced apartments over the next seven years. Hilton will invest up to USD 143 million in the JV Company JV Company will develop and build these properties, while Hilton will manage them. The development of the first few hotels will be financed with equity from the joint venture JV Company will continue to identify and acquire sites and undertake new hotel developments in due course of time The Indian partner’s contribution to the JV will be purely in terms of its land, which will be brought in as equity to the venture

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