HAMILTON, Bermuda, November 3 /PRNewswire-FirstCall/ -- Third Quarter 2009 Earnings Summary

    - Third quarter total revenues, excluding Real Estate, of $142.5 million
    - Same store RevPAR down 20% in local currency, 26% in US dollars
    - Adjusted EBITDA before Real Estate and Impairment of $30.6 million


    Key Events

    - Windsor Court Hotel, New Orleans sold in October, for $44.3 million,
      over 50x 2008 EBITDA
    - Total proceeds from non-core asset sales now $86.3 million
    - Letter of intent signed in October for sale of third non-core hotel
      asset
    - Relaunched Hotel das Cataratas, Iguassu Falls, Brazil, upgraded to
      Orient-Express standards
    - Returned refurbished Road to Mandalay river cruise ship in Burma to
      service
    - Commenced conversion of historic convent into 56 key hotel Palacio
      Nazarenas, Cuzco, Peru, scheduled for completion in 2011
    - Sold a further two residential villas at Napasai, Koh Samui, Thailand
      for $1.7 million

Orient-Express Hotels Ltd. (NYSE: OEH, http://www.orient-express.com), owners or part-owners and managers of 49 luxury hotels, restaurants, tourist trains and river cruise properties operating in 25 countries, today announced its results for the third quarter ended September 30, 2009.

The net loss for the period was $13.0 million (loss of $0.17 per common share) on revenue of $144.2 million, compared with net earnings of $6.4 million ($0.15 per common share) on revenue of $176.7 million in the third quarter of 2008. The net loss from continuing operations for the period was $2.7 million (loss of $0.04 per common share) compared with net earnings from continuing operations of $20.6 million ($0.48 per common share) in the third quarter of 2008. The adjusted net earnings from continuing operations for the period was $1.4 million ($0.02 per common share) compared with adjusted net earnings from continuing operations of $22.6 million ($0.53 per common share) in the third quarter of 2008.

Commenting on the quarter, Paul White, President and Chief Executive Officer said, "The third quarter has again demonstrated the resilience of the Orient-Express business model. Our focus on the high end leisure traveller and our international diversification translated into RevPAR declines that were not as steep as those experienced by the luxury sector in general or the 'big brand' operators that rely heavily on group and corporate business. Nevertheless, the quarter was another challenging trading period for the Company and the industry as a whole.

"During the quarter we continued to expedite the sale of non-core assets, with $86.3 million of sales completed so far this year. A non-binding letter of intent has since been signed for the sale of a third non-core hotel asset, and total proceeds are expected to rise to over $100 million by the end of 2009. The completed sales, coupled with the equity raised in April, has helped to reduce our net debt from $835.3 million at December 31, 2008 to $705.8 million.

"Progress continues on our Real Estate developments in St. Martin. The construction of Porto Cupecoy is nearing completion, with the grand opening scheduled for February 2010. To date the project is nearly 50% sold. We expect the balance of 93 condominiums to be sold over the next two to three years at an anticipated average price of $0.6 to $0.7 million, which will further deleverage the balance sheet.

"Trading has been consistent with our expectations. It is particularly pleasing to see the operational efficiencies continue through the high season, when savings are more challenging in the luxury sector. Again in this quarter, we achieved savings sufficient to offset 47% of the revenue drop, excluding Charleston Place, which was consolidated from January 1, 2009."

Business Highlights

Revenue, excluding Real Estate revenue, was $142.5 million in the third quarter of 2009, down $30.8 million from the third quarter of 2008. On a same store basis, revenue, excluding Real Estate revenue, was down by 22% in US dollars or by $37.7 million.

Revenue from Owned Hotels for the third quarter was $116.5 million, including $10.0 million from Charleston Place. This excludes revenue from Windsor Court Hotel, which has been accounted for as a discontinued operation. On a same store basis, revenue from Owned Hotels declined by 21% year over year. Owned Hotels same store RevPAR declined by 20% in local currency (26% in US dollars).

Trains and Cruises revenue fell by 23% or $7.0 million. These operations have a high variable cost component and EBITDA fell by only $2.6 million.

Adjusted EBITDA before Real Estate and Impairment was $30.6 million compared to $51.3 million in the prior year. The principal variances from the third quarter of 2008 included results from owned hotels in Italy (down $3.9 million), Reid's Palace, Madeira (down $1.2 million), Grand Hotel Europe, St Petersburg (down $2.9 million), La Residencia, Mallorca (down $1.8 million), La Samanna, St. Martin (down $1.2 million), Orient-Express Safaris, Botswana (down $1.2 million), and the Venice Simplon-Orient-Express (down $2.7 million).

The results for the third quarter include a non-cash fixed asset impairment charge of $9.8 million relating to the Company's ownership of Lilianfels Blue Mountains, Katoomba, Australia.

During the quarter, work started on a fully-financed $14.1 million, 56 key hotel Palacio Nazarenas, Cuzco, Peru, scheduled for completion in 2011. The hotel, a conversion of an historic convent, will complement our next door Hotel Monasterio with a presidential suite, 29 junior suites, 9 suites and 17 deluxe oxygen-enriched rooms.

The entirely refurbished Road to Mandalay river cruise ship in Burma returned to service in August 2009, after an absence of more than 12 months, following damage sustained during Cyclone Nargis. A new Governor's Suite and five additional state cabins have been created. Deluxe cabins have been reduced in number and expanded to improve the guest experience.

Regional Performance

Europe: In the third quarter, revenues from Owned Hotels were $67.5 million, down 23% from $88.1 million in the third quarter of 2008. EBITDA was $25.6 million in 2009 versus $35.9 million in the prior year. Same store RevPAR decreased by 18% in local currency (26% in US dollars). Overall the Italian hotels experienced a 12% fall in local currency RevPAR (19% in US dollars). Reid's Palace, which is heavily dependent on the weakened UK outbound market experienced a 35% fall in local currency RevPAR (39% in US dollars). Similarly, La Residencia, which is also largely dependent on the UK market, experienced a 31% fall in local currency RevPAR (36% in US dollars). Grand Hotel Europe, St Petersburg continued to be adversely affected by the global recession and suffered a 28% fall in local currency RevPAR (44% in US dollars). The depreciation of the rouble had a $1.4 million adverse impact on the hotel's EBITDA.

North America: Revenue was $19.9 million, including $10.0 million with respect to Charleston Place, South Carolina which was consolidated from January 1, 2009. Excluding this hotel, revenue was 25% lower than the third quarter of 2008. Excluding EBITDA of $1.8 million from Charleston Place, there was an EBITDA decrease of $2.2 million. Same store RevPAR for the region fell by 31%. The region includes La Samanna, St. Martin, which was significantly impacted by the economic downturn as well as the closure of the property for one week due to a hurricane threat. Consequently, the hotel suffered a 41% fall in RevPAR.

Southern Africa: Revenue of $7.2 million was 29% lower year over year, and EBITDA of $1.1 million was 58% lower than in the third quarter of 2008.

South America: Revenue decreased by 10% to $11.3 million in the third quarter of 2009, from $12.5 million in the third quarter of 2008. EBITDA was $0.9 million, compared to $1.9 million last year. Copacabana Palace had a RevPAR decrease of 19% in local currency, and EBITDA was down by $0.5 million. The region's EBITDA results were impacted by a $1.6 million EBITDA loss at Hotel das Cataratas which was relaunched under the Orient-Express brand in October 2009.

Asia Pacific: Revenue for the third quarter of 2009 was $10.7 million, a decrease of 2% year over year. EBITDA was $2.8 million compared to $2.2 million in the third quarter of 2008. Same store RevPAR in local currency for the region fell by 4% from $172 to $166.

Hotel management and part-ownership interests: EBITDA for the third quarter of 2009 was a loss of $0.1 million compared to a profit of $4.7 million in the third quarter of 2008, which included $3.1 million of EBITDA from Charleston Place.

Restaurants: Revenue from restaurants in the third quarter of 2009 was $2.2 million compared to $2.9 million in the same quarter of 2008, and EBITDA was a loss of $0.5 million compared with a loss of $0.3 million in 2008.

Trains and Cruises: Revenue was down $7.0 million in the third quarter of 2009, a decrease of 23% year over year, and EBITDA was down by $2.6 million, reflecting the high level of variable costs in the trains business.

Central costs: In the third quarter of 2009, central costs were $7.4 million compared with $6.2 million in the prior year period. In the quarter, there was a $0.5 million increase in the cost of non-cash equity-compensation awards.

Depreciation and amortization: The depreciation and amortization charge for the third quarter of 2009 was $11.0 million compared with $8.9 million in the third quarter of 2008. The current year quarter includes $1.9 million relating to Charleston Place, which was consolidated from January 1, 2009.

Interest: The interest charge for the third quarter of 2009 was $7.8 million compared with $10.9 million in the third quarter of 2008.

Tax: The tax charge for the quarter was $7.9 million compared to a charge of $8.2 million in the same quarter in the prior year. The third quarter 2009 tax charge includes a deferred tax charge of $1.7 million arising in respect of fixed asset timing differences following appreciation of certain local currencies against the US dollar in the quarter. There was also a benefit to deferred tax of $2.9 million in respect of the impairment charge in the quarter.

Discontinued Operations: The charge in the third quarter of 2009 was $10.3 million. Discontinued operations in the third quarter include the results of Windsor Court Hotel, New Orleans, Bora Bora Lagoon Resort and La Cabana, Buenos Aires. The charge included an operating loss in the quarter of $0.4 million and impairment charges, net of tax, of $5.4 million relating to La Cabana and $4.5 million relating to Bora Bora Lagoon Resort.

Investment: Capital expenditure in the third quarter was $10.4 million which was necessary to complete projects at, in particular, Grand Hotel Europe and Copacabana Palace. This also included $5.9 million for Road To Mandalay, which is fully covered by insurance. There was an additional $9.0 million deposit for the New York hotel project. In addition, the Company invested $8.9 million during the quarter in the Company's development at Porto Cupecoy and $3.5 million was invested in Hotel das Cataratas.

Liquidity and Capital Reserves

At September 30, 2009, the Company had total debt of $830.1 million, working capital loans of $8.4 million and cash balances of $132.8 million (including $17.8 million of restricted cash), giving a total net debt of $705.8 million compared with total net debt of $683.9 million at the end of the second quarter of 2009. Additionally, at September 30, 2009, Other Liabilities Held for Sale included $36.8 million of debt relating to The Windsor Court Hotel, which was repaid in October when the hotel was sold.

At September 30, 2009, undrawn amounts available to the Company under committed short-term lines of credit were $25.0 million and undrawn amounts available to the Company under secured revolving credit facilities were $12.0 million, bringing total cash availability at September 30, 2009, to $169.8 million, including restricted cash of $17.8 million.

At September 30, 2009, approximately 56% of the Company's debt was at fixed interest rates and 44% was at floating interest rates. The weighted average maturity of the debt was approximately 2.7 years and the weighted average interest rate (including margin) was approximately 3.5%.

Outlook

"As we enter the low season period, we see business conditions continuing to stabilize. Bookings remain very last minute, a trend we expect to continue into 2010", said Paul White. "We maintain our tight control of costs and capital expenditures and are pursuing the sale of non-core assets and developed Real Estate in line with our strategy. Having achieved key milestones in all three of these areas, with further progress expected in the coming months, the Company can now begin to evaluate growth opportunities in management, ownership or a combination of both. Our aim continues to be to deleverage the Company significantly by the end of 2011, with a targeted 4-5 times ratio of debt to EBITDA on a stabilized basis."

    Reconciliation to reported earnings

    $'000 - except per share amounts     Three months ended   Nine months
                                          September 30           ended
                                                              September 30
                                            2009     2008     2009     2008

    EBITDA                                19,315   51,110   46,609  116,688
    Adjusted items:
    Legal costs (1)                           19        -      648        -
    Management restructuring (2)             755        -    1,472        -
    Impairment (3)                         9,809        -   16,857        -
    Adjusted EBITDA                       29,898    51,110  65,586  116,688
                                         (13,015)    6,379 (51,967)  21,505

    US GAAP reported net
    (losses)/earnings
    Discontinued operations net of tax     10,308   14,172  34,473   19,135
    Net (loss)/earnings from
    continuing operations                  (2,707)  20,551 (17,494)  40,640
    Adjusted items net of tax:
    Legal costs (1)                            19        -     648        -
    Management restructuring (2)              455        -   1,080        -
    Impairment (3)                          6,866        -  13,914        -
    Interest rate swaps (4)                   113       583    965      137
    Foreign exchange (5)                   (3,355)    1,466   (368)  (2,075)
    Adjusted net earnings/(loss) from
    continuing operations                   1,391    22,600 (1,255)  38,702
    Reported EPS                            (0.17)     0.15  (0.80)    0.51
    Reported EPS from continuing
    Operations                              (0.04)     0.48  (0.27)    0.96
    Adjusted EPS from continuing
    Operations                               0.02      0.53  (0.02)    0.91
    Number of shares (millions)             76.84     42.47   65.08   42.47

1. Costs associated with litigation challenging the Company's class B common share structure, as reported in the 2008 Form 10-K.

2. Restructuring and redundancy costs incurred in 2009 as the final part of the Company's cost reduction program.

3. Goodwill and fixed asset impairment charges recorded on four owned properties.

4. Swaps that did not qualify for hedge accounting.

5. Foreign exchange, net of tax, is a non-cash item arising on the translation of certain assets and liabilities denominated in currencies other than the reporting currency of the entity concerned.

Management evaluates the operating performance of the Company's segments on the basis of segment net earnings before interest, foreign currency, tax (including tax on unconsolidated companies), depreciation and amortization (segment EBITDA), and believes that segment EBITDA is a useful measure of operating performance, for example to help determine the ability to incur capital expenditure or service indebtedness, because it is not affected by non-operating factors such as leverage and the historic cost of assets. EBITDA is also a financial performance measure commonly used in the hotel and leisure industry, although the Company's segment EBITDA may not be comparable in all instances to that disclosed by other companies. Segment EBITDA does not represent net cash provided by operating, investing and financing activities under U.S. generally accepted accounting principles (U.S. GAAP), is not necessarily indicative of cash available to fund all cash flow needs, and should not be considered as an alternative to earnings from operations or net earnings under U.S. GAAP for purposes of evaluating operating performance.

Adjusted net earnings, adjusted net earnings from continuing operations, and adjusted E.P.S. are non-GAAP financial measures and do not have any standardized meanings prescribed by U.S. GAAP. They are, therefore, unlikely to be comparable to similar measures presented by other companies, which may be calculated differently, and should not be considered as an alternative to net earnings, cash flow from operating activities or any other measure of performance prescribed by U.S. GAAP. Management considers adjusted net earnings, adjusted net earnings from continuing operations, and adjusted E.P.S. to be meaningful indicators of operations and uses them as measures to assess operating performance because, when comparing current period performance with prior periods and with budgets, management does so after having adjusted for non-recurring items, foreign exchange (a non-cash item) and significant disposals of assets or investments, which could otherwise have a material effect on the comparability of the Company's core operations. Adjusted net earnings, adjusted net earnings from continuing operations, and adjusted E.P.S. are also used by investors, analysts and lenders as measures of financial performance because, as adjusted in the foregoing manner, the measures provide a consistent basis on which the performance of the Company can be assessed.

This news release and related oral presentations by management contain, in addition to historical information, forward-looking statements that involve risks and uncertainties. These include statements regarding earnings outlook, investment plans, debt reduction, asset sales and similar matters that are not historical facts. These statements are based on management's current expectations and are subject to a number of uncertainties and risks that could cause actual results to differ materially from those described in the forward-looking statements. Factors that may cause a difference include, but are not limited to, those mentioned in the news release, unknown effects on the travel and leisure markets of terrorist activity and any police or military response, varying customer demand and competitive considerations, failure to realize hotel bookings and reservations and planned property development sales as actual revenue, inability to sustain price increases or to reduce costs, rising fuel costs adversely impacting customer travel and the Company's operating costs, fluctuations in interest rates and currency values, uncertainty of completing proposed asset sales, adequate sources of capital and acceptability of finance terms made more difficult by the current crisis in financial markets and by weakening national economies, possible loss or amendment of planning permits and delays in construction schedules for expansion or development projects, delays in reopening properties closed for repair or refurbishment and possible cost overruns, shifting patterns of tourism and business travel and seasonality of demand, inability to reduce funded debt as planned or to agree loan agreement waivers or amendments, adverse local weather conditions, changing global and regional economic conditions in many parts of the world and weakness in financial markets, legislative, regulatory and political developments, and possible continuing challenges to the Company's corporate governance structure. Further information regarding these and other factors is included in the filings by the company with the U.S. Securities and Exchange Commission.

Orient-Express Hotels will conduct a conference call on Wednesday, November 4, 2009 at 10.00 am ET (15.00 GMT) which is accessible at +1-866-966-5335 (US toll free) or +44(0)20-3037-9120 (Standard International access). The conference ID is 'Orient-Express'. A replay of the conference call will be available until 5.00pm (ET) Wednesday, November 11, 2009 and can be accessed by calling +1-866-583-1035 (US toll free) or +44(0)20-8196-1998 (Standard International) and entering replay access passcode: 3917290#. A replay will also be available on the company's website: http://www.orient-expressinvestorinfo.com.

                            ORIENT-EXPRESS HOTELS LTD
                      Three Months ended September 30, 2009
                          SUMMARY OF OPERATING RESULTS
                                   (Unaudited)

                                                    Three months ended
                                                       September 30
    $'000 - except per share amount                  2009        2008

    Revenue and earnings

    from unconsolidated companies
    Owned hotels
    - Europe                                       67,535      88,117
    - North America                                19,897      13,184
    - Rest of World                                29,113      33,437
    Hotel management & part ownership interests      (141)      4,664
    Restaurants                                     2,151       2,899
    Trains & Cruises                               23,944      30,984
    Revenue and earnings from unconsolidated
    companies before Real Estate                  142,499     173,285
    Real Estate                                     1,688       3,454
    Total (1)                                     144,187     176,739

    Analysis of earnings
    Owned hotels
    - Europe                                       25,595      35,905
    - North America                                   (68)        300
    - Rest of World                                 4,704       6,681
    Hotel management & part ownership interes        (141)      4,664
    Restaurants                                      (494)       (269)
    Trains & Cruises                                7,686      10,247
    Central overheads                              (7,418)     (6,195)
    EBITDA before Real Estate and Impairment       29,864      51,333
    Real Estate                                      (740)       (223)
    EBITDA before Impairment                       29,124      51,110
    Impairment                                     (9,809)          -
    EBITDA                                         19,315      51,110
    Depreciation & amortization                   (11,041)     (8,931)
    Interest                                       (7,781)    (10,858)
    Foreign exchange                                4,709      (2,531)
    Earnings before tax                             5,202      28,790
    Tax                                            (7,909)     (8,239)
    Net (losses)/earnings from continuing
    Operations                                     (2,707)     20,551
    Discontinued operations                       (10,308)    (14,172)
    Net (losses)/earnings on common shares        (13,015)      6,379
    (Losses)/earnings per common share              (0.17)       0.15
    Number of shares - millions                     76.84       42.47

(1) Comprises earnings from unconsolidated companies of $2,012,000 (2008 - $5,798,000) and revenue of $142,175,000 (2008 - $170,941,000).

                            ORIENT-EXPRESS HOTELS LTD
                      Three Months Ended September 30, 2009
                SUMMARY OF OPERATING INFORMATION FOR OWNED HOTELS

                                    Three months ended
                                        September 30
                                     2009         2008
    Average Daily Rate
    (in U.S. dollars)
    Europe                            797          962
    North America                     273          308
    Rest of World                     282          279
    Worldwide                         458          517

    Rooms Available (000's)
    Europe                             82           82
    North America                      67           66
    Rest of World                     119          109
    Worldwide                         268          257

    Rooms Sold (000's)
    Europe                             48           55
    North America                      36           41
    Rest of World                      55           66
    Worldwide                         139          162

    RevPAR (in U.S. dollars)
    Europe                            470          639
    North America                     147          193
    Rest of World                     130          167
    Worldwide                         238          324

                                                            Change %
    Same Store RevPAR                                    Dollar   Local
    (in U.S. dollars)                                           currency
    Europe                            470          639     -26%     -18%
    North America                     193          282     -31%     -31%
    Rest of World                     145          180     -19%     -18%
    Worldwide                         280          379     -26%     -20%



                            ORIENT-EXPRESS HOTELS LTD
                      Nine Months ended September 30, 2009
                          SUMMARY OF OPERATING RESULTS
                                   (Unaudited)

                                                        Nine months ended
                                                           September 30
    $'000 - except per share amount                      2009        2008

    Revenue and earnings from unconsolidated
    companies
    Owned hotels
    - Europe                                          133,212     194,100
    - North America                                    75,877      49,772
    - Rest of World                                    85,278     105,044
    Hotel management & part ownership interests         1,774      17,618
    Restaurants                                         8,717      12,162
    Trains & Cruises                                   52,205      73,101
    Revenue and earnings from unconsolidated

    companies before Real Estate                      357,063     451,797
    Real Estate                                         1,688      11,980
    Total (1)                                         358,751     463,777

    Analysis of earnings
    Owned hotels
    - Europe                                           37,357      65,277
    - North America                                    11,957       8,936
    - Rest of World                                    17,253      23,061
    Hotel management & part ownership interests         1,774      17,618
    Restaurants                                            31       1,516
    Trains & Cruises                                   15,983      21,616
    Central overheads                                 (19,356)    (20,153)
    EBITDA before Real Estate and Impairment           64,999     117,871
    Real Estate                                        (1,533)     (1,183)
    EBITDA before Impairment                           63,466     116,688
    Impairment                                        (16,857)          -
    EBITDA                                             46,609     116,688
    Depreciation & amortization                       (29,992)    (27,609)
    Interest                                          (24,588)    (33,546)
    Foreign exchange                                      487       2,131
    (Losses)/earnings before tax                       (7,484)     57,664
    Tax                                               (10,010)    (17,024)
    Net (losses)/earnings from continuing
    Operations                                        (17,494)     40,640
    Discontinued operations                           (34,473)    (19,135)
    Net (losses)/earnings on common shares            (51,967)     21,505


    (Losses)/earnings per common share                  (0.80)       0.51
    Number of shares - millions                         65.08       42.47

(1) Comprises earnings from unconsolidated companies of $6,362,000 (2008 - $18,323,000) and revenue of $352,389,000 (2008 - $445,454,000).

                            ORIENT-EXPRESS HOTELS LTD
                      Nine Months Ended September 30, 2009
                SUMMARY OF OPERATING INFORMATION FOR OWNED HOTELS

                                     Nine months ended
                                      September 30
                                     2009         2008
    Average Daily Rate

    (in U.S. dollars)
    Europe                            717          879
    North America                     364          406
    Rest of World                     276          282
    Worldwide                         420          484

    Rooms Available (000's)
    Europe                            212          217
    North America                     164          162
    Rest of World                     353          343
    Worldwide                         729          722

    Rooms Sold (000's)
    Europe                            102          128
    North America                      92          108
    Rest of World                     174          209
    Worldwide                         368          445

    RevPAR (in U.S. dollars)
    Europe                            344          519
    North America                     205          271
    Rest of World                     136          172
    Worldwide                         212          299

                                                             Change %
    Same Store RevPAR                                    Dollar    Local
    (in U.S. dollars)                                           Currency
    Europe                            344          521     -34%     -23%
    North America                     272          368     -26%     -25%
    Rest of World                     148          184     -20%     -14%
    Worldwide                         235          332     -29%     -21%



                            ORIENT-EXPRESS HOTELS LTD
                CONSOLIDATED AND CONDENSED BALANCE SHEETS
                                   (Unaudited)

                                                   September 30 December 31
                                                           2009        2008
    $'000
    Assets

    Cash                                                132,769      77,826
    Accounts receivable                                   62,515     45,232
    Due from related parties                              14,519      9,985
    Prepaid expenses                                      25,548     19,297
    Inventories                                           44,206     43,265
    Other assets held for sale                            74,971    156,207
    Real estate assets                                   107,711     83,983
    Total current assets                                 462,239    435,795

    Property, plant & equipment, net book value        1,431,993  1,352,996
    Investments                                           70,681     67,464
    Goodwill                                             149,460    154,054
    Other intangible assets                               20,795     20,255
    Other assets                                          38,463     38,569
                                                       2,173,631  2,069,133

    Liabilities and Equity

    Working capital facilities                             8,402     54,179
    Accounts payable                                      26,266     23,243
    Accrued liabilities                                   97,059     72,277
    Deferred revenue                                      69,397     55,988
    Other liabilities held for sale                       42,775     78,837
    Current portion of long-term debt and capital
    leases                                               170,074    138,813
    Total current liabilities                            413,973    423,337

    Long-term debt and obligations under capital
    leases                                               660,064    657,952
    Deferred income taxes                                168,523    162,199
    Other liabilities                                     36,441     41,476
    Total liabilities                                  1,279,001  1,284,964

    Shareholders' equity                                 893,061    782,598
    Non-controlling interests                              1,569      1,571
    Total equity                                         894,630    784,169
                                                       2,173,631  2,069,133


    Contact:
    Martin O'Grady
    Vice President, Chief Financial Officer
    Tel: +44-20-7921-4038
    E: martin.ogrady@orient-express.com

    Pippa Isbell
    Vice President, Corporate Communications
    Tel: +44-20-7921-4065
    E: pippa.isbell@orient-express.com

SOURCE Orient-Express Hotels Ltd