Application for admission

India Hospitality Corp.
11 October 2007


For Immediate Release                                         11 October 2007



                            INDIA HOSPITALITY CORP.


      Application for admission of shares and warrants to the CREST system


New York, NY. - October 11, 2007 - India Hospitality Corp. (LSE: IHC, 'IHC' or 
'India Hospitality'), today announced that it has applied for admission of
de-materialized depositary interests representing its shares and warrants to the
CREST system. The CREST settlement system allows securities to be transferred
from one CREST account to another without the need to use share certificates,
warrants or written instruments of transfer. IHC believes that admission to the
CREST system will facilitate settlement of its shares and warrants in a more
timely and efficient manner and benefit its shareholders.


Securities issued by non-U.K. companies, such as IHC, cannot be held or
transferred in the CREST system. However, to enable investors to settle such
securities through the CREST system, a depositary or custodian can hold the
relevant securities and issue de-materialized depositary interests representing
the underlying securities, which are held in trust for the holders of the
depositary interests. It will be possible for CREST members to hold and transfer
interests in shares or warrants within CREST pursuant to a depositary interest
arrangement to be established by IHC with Capita IRG Trustees Limited (the
'Depositary'). The shares and warrants will not themselves be admitted to CREST.
Instead, the Depositary will issue depositary interests in respect of the
underlying shares and warrants ('Depositary Interests').


The Depositary Interests will be independent securities constituted under
English law and may be held and transferred through the CREST system. Depositary
Interests will have the same ISIN as the underlying shares and warrants and will
not require a separate listing on AIM. The Depositary Interests will be created
and issued pursuant to a Deed Poll entered into by the Depositary, which will
govern the relationship between the Depositary and the holders of the Depositary
Interests.


Application has been made for the Depositary Interests in respect of the
underlying shares and warrants to be admitted to CREST commencing on October 29,
2007. If CREST members wish to trade the Depositary Interests instead of holding
physical certificates, they can do so by submitting a stock deposit pursuant to
standard CREST procedures. Holders of certificated shares or warrants who are
not CREST members, but would like to dematerialize their shares or warrants, may
utilize a CREST transfer form. Transfers of the Depositary Interests will be
subject to stamp duty reserve tax at the rate of 0.5%.

Holders of shares or warrants who wish to continue holding and/or trading shares
or warrants in certificated form may continue to do so. Shares and warrants held
by IHC's 'affiliates' (as defined under Rule 144 of the U.S. Securities Act of
1933) will initially remain in certificated form.

U.S. persons holding shares or warrants may still be subject to transfer
restrictions under the U.S. securities laws requiring any resales to be pursuant
to an exemption from the U.S. Securities Act, such as Rule 144A or Regulation S.
Holders of shares or warrants should consult with their counsel with respect to
transfer questions. CREST members may be required to submit a deposit
certification form to Capita, certifying compliance with the relevant transfer
restrictions imposed by U.S. securities law. The deposit certification form must
be submitted to Capita no later than 6 hours after submission of a stock deposit
to CREST.

For further details, please refer to CREST operational bulletin number 1281,
issued on March 19, 2007, for the special procedures contained therein.
About India Hospitality Corp.

IHC was created as a blank-check company to acquire Indian businesses or assets in 
the hospitality, leisure, tourism, travel and related industries, including but 
not limited to hotels, resorts, timeshares, serviced apartments and restaurants.

In August 2006, IHC raised US $103 million in an IPO and private placement and is 
listed on AIM, a market operated by London Stock Exchange plc, under the ticker IHC.  
IHC was sponsored and advised by Hayground Cove Asset Management LLC, a New 
York-based investment management firm with approximately US $1.9 billion in assets 
under management as of July 31, 2007.

In July 2007, IHC closed on the acquisition from Navis Capital Partners and its 
Affiliates of India-based Mars Restaurants Private Limited ('Mars'), an emerging 
hotel and restaurant company, and SkyGourmet Catering Private Limited 
('SkyGourmet'), an airline catering company operating out of four locations in India.

About Mars and SkyGourmet

Since its incorporation in 2000, Mars has diversified into bakery outlets and 
operating and managing food courts and hotels. SkyGourmet was incorporated in 2002 
and is headquartered in Mumbai. SkyGourmet currently provides in-flight catering 
services to a number of domestic and international airlines, including Jet Airways, 
Kingfisher Airlines, Air India Express, Indian Airlines, Malaysian Airlines and 
Air France. It has operations in Mumbai, Bangalore, New Delhi and Pune. For the 
nine months ended December 31, 2006, the combined entities had audited revenues 
of approximately US $18.9 million and 1,700 employees.


For further information, please contact:

Investor Relations Contact:            203-682-8200

ICR Inc.

William Schmitt

Media Contact:                         [phone]

Buchanan Communications

Richard Darby, Isabel Podda

Nominated Adviser and Broker:          [phone]

Deutsche Bank

Mumtaz Naseem

Deutsche Bank is IHC's nominated adviser and broker for the purposes of the AIM 
Rules for Companies. Its responsibilities as IHC's nominated adviser and broker 
under the AIM Rules for Nominated Advisers are owed solely to London Stock Exchange 
plc and not to IHC, any director of IHC or any other person.

No offer or invitation to purchase or subscribe for ordinary shares in or warrants 
to purchase or subscribe for ordinary shares or warrants of IHC is being made by 
this announcement.

                      This information is provided by RNS
            The company news service from the London Stock Exchange