Orient-Express Hotels Announces Closing of $138 Million Common Share Offering

Jan 19, 2010, 12:10 ET from Orient Express Hotels Ltd

HAMILTON, Bermuda, January 19 /PRNewswire-FirstCall/ -- Orient-Express Hotels Ltd. (NYSE: OEH, http://www.orient-express.com), today announced the closing of its previously announced public offering of 12 million Class A common shares. The company also announced that the underwriters for the offering exercised in full their over-allotment option to purchase an additional 1.8 million Class A common shares, bringing the total shares sold to 13.8 million at a price of $10.00 per share for gross proceeds of $138 million. Orient-Express Hotels Ltd. received net proceeds of approximately $131 million, after deducting underwriting discounts and estimated offering expenses.

Deutsche Bank Securities Inc. and Barclays Capital Inc. acted as joint book-running managers and underwriters for the offering.

    Contact:

    Martin O'Grady                         Pippa Isbell

    Vice President,                        Vice President,
    Chief Financial Officer                Corporate Communications
    Tel: +44-20-7921-4038                  Tel: +44-20-7921-4065
    E: martin.ogrady@orient-express.com    E: pippa.isbell@orient-express.com

SOURCE Orient Express Hotels Ltd