5 30 NH Latino - Buenos Aires (Argentina)

31 Share Performance PERCENTAGE REVALUATION OF NH HOTELES AND IBEX 35 TAKEOVER BID FOR 100% OF SOTOGRANDE NH Hoteles has launched a takeover for 100% of Sotogrande’s share capital, via a share swap at the ratio of one new NH Hoteles share per Sotogrande share. The offer is subject to approval at the General Shareholders’ Meeting. NH Hoteles already owns 79.06% of Sotogrande’s share capital, and the bid is therefore aimed at the remaining 20.94%. La Sociedad de Promoción y Participación Empresarial Caja de Madrid, which owns a 17.27% interest in Sotogrande, notified on 16 January 2006 that it would accept the offer, thus taking its stake in NH Hoteles to more than 10%. DIVIDEND PAYOUT In line with the dividend policy of recent years, NH Hoteles, subject to approval at the General Shareholders’ Meeting, will pay its shareholders a dividend of €0.26 per share. NH HOTELES OWNERSHIP STRUCTURE * Stable NH Hoteles shareholders are considered to be those represented on the Board of Directors.