NEWS| India Hospitality Corp. Management Assumes Full Control

ndia Hospitality Corp. is pleased to announce that it has assumed direct operating control of its Indian subsidiaries, after the disengagement of the operating agreements between IHC's operating companies, Mars Restaurants Private Limited and SkyGourmet Private Limited and Mars Catering Services Private Limited , a company controlled by Sanjay Narang, as of 31 July 2009.

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Mr Sanjay Narang and Mr Arvind Ghei have now ceased to act as President and Chief Financial Officer of the Operating Companies, respectively, following the disengagement of the Agreements. Mr Narang will be appointed the honorary non-executive chairman of Sky Gourmet, the airline catering business, for a period of 2 years for the purpose of providing a smooth transition and business continuity.

IHC, via its subsidiary MRPL, has also entered into a licence agreement with Mr Narang whereby it has allowed the continued use of the Gordon House brand for the Hotel Sahar, Mumbai

IHC has subsequently entered into an arrangement with Mr Narang whereby IHC will franchise the aforementioned restaurant brands to Mr Narang for a period of 1 year for a franchise fee in the initial three month period.



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