DUBAI, 22 August 2007 — Swiss-Belhotel International headquartered in Hong Kong, has announced the signing of a Memorandum of Understanding with an international investment company for a new hotel in Dubai. This announcement marks the group’s fourth property in the Gulf region, on the heels of hotel announcements in Kuwait, Doha and Sharjah. BB Sood, chief executive officer representing the Owning Company said:”We are delighted to be working with Swiss-Belhotel International, which is rapidly expanding its presence in the Middle East.” “The 4 star business hotel with168 rooms, which will be located on the Mina Road nearby Port Rashid, will be known as Swiss-Belhotel Elite, Dubai and a soft opening slated for May-June of 2008,” said Edgar Solenthaler, vice president, Operations & Development, Middle East, Swiss-Belhotel International.