LONRHO - PROPOSED SALE OF PRINCESS HOTELS

LONRHO PUBLIC LIMITED COMPANY
("LONRHO")
PROPOSED SALE OF PRINCESS HOTELS
16TH JULY,1998

THE BOARD OF LONRHO IS PLEASED TO ANNOUNCE THAT, AT THE EXTRAORDINARY GENERAL
MEETING HELD TODAY, SHAREHOLDERS PASSED THE RESOLUTION APPROVING THE SALE OF
PRINCESS HOTELS.

SUBJECT TO THE RECEIPT OF CERTAIN THIRD PARTY CONSENTS, COMPLETION IS EXPECTED
TO TAKE PLACE BY 31ST AUGUST, 1998.
PRESS ENQUIRIES :

LONRHO                                  NICHOLAS MORRELL    +44 171 201 6000
                                        ROBIN WHITTEN

DEUTSCHE MORGAN GRENFELL                RORY MACNAMARA      +44 171 545 8000
                                        JOHN MCINTYRE

CARDEW & CO.                            ANTHONY CARDEW      +44 171 930 0777
MORGAN GRENFELL & CO. LIMITED ("DEUTSCHE MORGAN GRENFE11"), WHICH IS REGULATED
IN THE UNITED KINGDOM BY THE SECURITIES AND FUTURES AUTHORITY LIMITED, IS
ACTING FOR LONRHO PUBLIC LIMITED COMPANY ("LONRHO") IN CONNECTION WITH THE
MATTERS DESCRIBED HEREIN AND IS NOT ACTING FOR ANY OTHER PERSON AND WILL NOT BE
RESPONSIBLE TO ANYONE OTHER THAN LONRHO FOR PROVIDING THE PROTECTIONS AFFORDED
TO ITS CUSTOMERS OR FOR PROVIDING ADVICE IN RELATION TO THE MATTERS DESCRIBED
HEREIN.