Executive Share Option Plan

Park Plaza Hotels Limited
28 September 2007



                                                               28 September 2007


                           Park Plaza Hotels Limited

                                ('the Company')

                          Executive Share Option Plan

As described in the Admission Document, the Company, on the recommendation of
the Remuneration Committee, adopted an executive share option plan (the 'Share
Option Plan') on 11 July 2007. In the Admission Document, the Company
contemplated the initial grant of options being made in the 6 week period
following the adoption of the Share Option Plan. However, as a result of the
Company being in a close period ahead of the publication of its half yearly
results, the initial grant was deferred until now.

On 27 September 2007, the Company made an initial grant of options under the
Share Option Plan over 387,294 ordinary shares of nil par value of the Company
('Shares') with an exercise price equal to the placing price of £5.50 per Share.

In the initial grant, the Company granted: (i) options which will become
exercisable on the third anniversary of the date of grant; and (ii) options
which will become exercisable in respect of a third of the Shares under option
on the first anniversary of the date of grant of the options, in respect of a
further third of the Shares under option on the second anniversary of the date
of grant and in respect of the remaining Shares under option on the third
anniversary of the date of grant.  Options will automatically lapse on the tenth
anniversary of the date of grant.

For the purposes of Rule 17 of the AIM Rules, the only director who received an
option in the initial grant was Chen Moravsky. Mr Moravsky was granted an option
over a total of 92,727 Shares at an exercise price of £5.50 per Share. Mr
Moravsky's option will become exercisable in respect of 30,909 Shares on 27
September 2008, in respect of a further 30,909 Shares on 27 September 2009 and
in respect of the remaining 30,909 Shares on 27 September 2010. The option may
not be exercised after 26 September 2017.

The exercise price per Share for options granted in the future under the Share
Option Plan will not be less than the closing price of a Share on the dealing
day immediately preceding the date of grant (as published in the Financial Times
on the date of grant).



Enquiries:


Park Plaza Hotels         Tel: [phone]
Chen Moravsky, Chief
Financial Officer

Hudson Sandler            Tel: [phone]
Jessica Rouleau / Wendy
Baker




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