Interim Results

India Hospitality Corp.
28 September 2007


For Immediate Release                                          28 September 2007


                            India Hospitality Corp.


      Consolidated financial statements for the period ended June 30, 2007


New York, NY. - September 28, 2007 - India Hospitality Corp. (LSE: IHC, IHC or
India Hospitality), today announced that is has filed consolidated financial
statements for the period from January 1, 2007 to June 30, 2007. For the period
from January 1, 2007, the Company generated an operating loss of US $742,886 and
a pre-tax profit of US $1,818,976 or US $0.09 per share. As of June 30, 2007,
the Company had a cash balance of US $100.5 million.


In July 2007, IHC closed on the acquisition from Navis Capital Partners and its
Affiliates of India-based Mars Restaurants Private Limited (MRPL or Mars), an
emerging hotel and restaurant company, and SkyGourmet Catering Private Limited (
SCPL or SkyGourmet), an airline catering company operating out of four locations
in India for an aggregate purchase price of US $109.9 million.


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. The Company 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.


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 the period    For the period
                                                         from              from
                                               1 January 2007     incorporation
                                                           to                to
                                                    30-Jun-07        to 30 June
                                                                           2006
                                                          US$               US$

Administrative expenses                             $(742,886)          $(6,000)

Operating loss                                       (742,886)           (6,000)

Finance revenue                                     2,561,862                 -

Profit before tax                                   1,818,976           (6,000)
Income tax                                                 -                  -

Profit for the period attributable to              $1,818,976          $(6,000)
equity holders
of the parent

Earnings per share for continuing            Note  $ per share      $ per share
operations
Basic, profit for the year attributable to     2         $0.09            $0.00
ordinary equity holders of the parent

CONSOLIDATED BALANCE SHEET (UNAUDITED)
As at 30 June 2007

                                                June 30, 2007     June 30, 2006
                                                          US$               US$
ASSETS
Current assets
Cash                                             $100,503,549            $6,250
Other receivables                                     426,651                 -
Prepaid expenses                                       18,185                 -

Total assets                                     $100,948,385            $6,250

EQUITY & LIABILITIES
Equity attributable to equity holders of
the parent
Called up share capital                               $21,334            $6,250
Share premium account                              97,701,685                 -
Retained profit                                     3,085,366           (6,000)
Total equity                                      100,808,385               250

Current liabilities
Accrued expenses                                      140,000                 -
Loans due to related parties                                -             6,000

Total liabilities                                     140,000             6,000

Total equity and liabilities                     $100,948,385            $6,250



Note 2. Earnings per share figures are calculated in accordance with IAS 33,
Earnings per Share.

Basic earnings per share amounts are calculated by dividing profit for the
period attributable to ordinary equity holders of the Company by the weighted
average number of ordinary shares outstanding during the period. The following
reflects the income and share data used in the total operations basic earnings
per share computations:
Profit attributable to equity holders of the parent US $1,818,976
Weighted average number of ordinary shares for basic earnings per share
21,333,334



For Further Information Contact:
Investor Relations Contact: ICR Inc.
William Schmitt
203-682-8200


Media Contact: Buchanan Communications
Richard Darby, Isabel Podda
[phone]


Nominated Adviser and Broker: Deutsche Bank
Mumtaz Naseem
[phone]


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.




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