CNMV
COMISIÓN NACIONAL DEL MERCADO DE VALORES

Result of NH Hoteles, S.A.'s bid for Sotogrande, S.A.

Thursday, 21 December 2006


Pursuant to paragraph 2 of article 27 of Royal Decree 1197/1991, dated 26 July, the National Securities Market Commission (Comisión Nacional del Mercado de Valores) notifies that NH Hoteles, S.A.’s bid for 8,770,130 shares of Sotogrande, S.A. (after excluding 33,114,628 shares, equivalent to 79.06% of capital, which have been immobilized by its owner NH Hoteles, S.A., according to the bid prospectus) was accepted by 7,815,589 shares, i.e. 89.12% of the target shares and 18.66% of the target company’s capital.