Statement from Cipriani Family

Cipriani (Grosvenor Street) Ltd. Files for Administration in the UK to Protect Assets; Service Will Continue as Usual at the Renowned London Restaurant

NEW YORK, March 2, 2010 - Cipriani (Grosvenor Street) Ltd., a successful enterprise free of any
debt outside the liabilities resulting from the Orient-Express Hotel
litigation, is filing for administration to protect its assets. The
administration process will continue while the company pursues any appeal to
the Supreme Court in the UK litigation and trademark dispute against Orient
Express Hotels at OHIM, the Office of Harmonization in the Internal Market
(EU).

Service will continue as usual at our renowned London restaurant, which
will operate under a new name by April 24. Operations around the world remain
unaffected.

Matthew Hiltzik, Hiltzik Strategies, +1-212-430-5054, mhiltzik at hstrategies.com, or Rachel Adler, Hiltzik Strategies, +1-212-430-5053, radler at hstrategies.com