Banyan Tree Expands In India, Ireland & China

Within the last three months, the Group has secured agreements to manage three new resorts and three

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. October 14, 2008

SINGAPORE, September 13, 2006. Singapore Main-Board listed Banyan Tree Holdings Limited ('Banyan Tree' or the 'Group'), a leading manager and developer of premium resorts, hotels and spas in the Asia Pacific, recently announced that it has secured new agreements to manage two Banyan Tree Resorts and one Angsana Resort in India, and manage three new spas in Ireland, China and India respectively.

Mr Ho KwonPing, Executive Chairman of Banyan Tree said, 'These are exciting times for the Group as we continue with our growth expansion plans. We will continue to source out niche and exciting tourist destination markets to increase our presence in the world. These new agreements secured recently will increase our current pipeline of [21] hotel and [29] spa projects over the next three years.

Banyan Tree and Angsana Resorts in Karnataka, Chikmagalur, India

The hotel management agreement with Brigade Enterprises Pvt. Ltd. will see the Group establishing two resorts - a Banyan Tree Resort and Spa and an Angsana Resort and Spa, in Karnataka, a scenic, hilly location some four hours by car from Bangalore.

Banyan Tree Resort and Spa will be positioned as India's destination spa resort and will have approximately 25 rooms. Angsana Resort and Spa will have approximately 50 rooms. Both resorts will cater to the growing demand for destination spas and are scheduled for completion in 2008.

Banyan Tree Resort & Spa in Kerala, India

The Group entered into a joint venture with the Kapico Group Holding Co. K.S.C.C. to operate a Banyan Tree Resort and Spa in Kerala, India. 40 minutes by car and boat from Kochi, Banyan Tree Resort & Spa will be located on Vembanad Lake, near Poothhotta and Perumbalam. The project will comprise of about 100 water villas and luxury houseboats plus resort residential development. The Group will design the whole project. There is a put and call option (exercisable only at the grand opening of the resort) for the Group to invest 15% into the project. The Group has an additional option to invest a further 15% within 6 months of the grand opening. Completion of the resort is targeted for 2009.

Angsana Spa at Bunratty Castle Hotel in Ireland

Under the spa management agreement with the Blarney Group, Banyan Tree will manage an Angsana Spa at the 80-room Bunratty Castle Hotel, approximately 12 km from Shannon Airport, in County Clare, Ireland. Currently under renovation, the Bunratty Castle Hotel is nestled in the heart of Bunratty Village on a hillside near the 15th century Bunratty Castle, which is one of the finest in Ireland and Britain. The Spa will be the second Angsana Spa in Ireland, and is scheduled to open in October 2006.

Angsana Spa in Gurgaon, India

The Group signed a spa management agreement with Vipul Limited to establish an Angsana Spa in Gurgaon, located some 40 minutes by car from the capital city of New Delhi. Gurgaon is a large, fast growing city and a hub for large industries and multinational companies. Located on one hectare of an up-market residential development, the premier city spa will cater to the city of Gurgaon and is expected to open in 2008.

Angsana Spa at Royal Pines Resorts, Gold Coast, Australia

Located at the heart of the Gold Coast and situated on more than 200 hectares of magnificently landscaped gardens, the spa will cover two floors and have 17 treatment rooms. The Spa is scheduled to open by 2007.

Angsana Spa at Sofitel Fizi Tianmu Lake, Jiangsu, China

Owned by Liyang Fizi Development Co., Ltd., the upmarket 400 bedroom Sofitel Fizi Tianmu Lake Hotel will be built at Liyang, on the banks of Lake Tianmu. The Group's new Angsana Spa in Jiangsu will be a key amenity and will have 15 rooms. The Spa is scheduled to open by 2007.

These new management agreements are not expected to have any material financial impact on the Group's earnings per share and its net tangible assets for 2006.