PROTEA LAUNCHES PROTEA HOTEL JBR - April 2007

The newly formed, Sharaf Protea Hotels Middle East, a joint venture between Protea Hotels and the Sharaf Group of United Arab Emirates, is proud to announce the opening of the first of three hotels in October 2007. The 90-bedroomed newbuild Protea Hotel JBR Executive Suites, Dubai, is ideally situated to satisfy the needs of both business and leisure markets.

The newly formed company, Sharaf Protea Hotels Middle East, was created to address the increasing demand in the U.A.E market for high quality hotels and furnished residential units, to satisfy international visitors to Dubai seeking top quality and luxury accommodation. The joint venture agreement was signed in January this year by the representatives Mr. Ibrahim Sharaf, Chairman of Sharaf Group of U.A.E and Mr. Otto Stehlik, Executive Chairman of Protea Hospitality Corporation of South Africa, Africa's leading hotel brand.

'The target audience is predominantly international travelers with discerning taste, and it is for this reason that we have entered into a joint venture agreement with Protea Hospitality Corporation, the largest hotel management group in Africa, known for its excellence in hotel management,' Yousuf Sharaf further explained.

Protea Hotels believes that the phenomenal growth in the U.A.E, which includes a large number of world-first projects, offers the groups the potential to grow exponentially, especially when considering the untapped potential in this expanding region.

Protea Hotel JBR Executive Suites offers excellent accommodation, a stunning coastline and local cultural heritage. Ideal for corporates or groups, the hotel features Internet connections in all rooms, hot spots, complimentary daily newspaper, spacious rooms with extra-length king size beds, air-conditioning and tea/coffee making facilities. Facilities include a restaurant, conference venues, a swimming pool and foreign exchange desk, amongst others. The hotel is close to the airport and numerous attractions.

Opening dates for the next three properties have been announced, bringing the total offering to four properties by Protea Hotels Middle East. Protea Hotel City Centre and Protea Hotel Sohar City Dubai are both set to open in January 2008, with Protea Hotel Business Bay Dubai, UAE opening in late 2008.