ANNOUNCEMENTS

Roar Ingdal appointed new CEO of Norgani Hotels

The CEO of Royal Caribbean Cruise Lines (RCCL) Nordic and Baltic countries hired to bolster focus on strategic growth for the Norgani Hotels, - the leading Nordic hotel property company
 (Oslo, 24. January, 2008) - Roar Ingdal has been appointed as Chief Executive Officer of Norgani Hotels AS, where his mandate will be to create shareholder values through expanding the business in the Nordic region.
Ingdal is currently CEO of RCCL in Nordic and Baltic countries and has extensive managerial experience from the hotel and travel industry. Ingdal was CEO at Norlandia Hotels from 2005 to 2007.  In addition, he has considerable sales and marketing experience, from working as Head of marketing and sales in the Color Line group from 1992 to 2000.
"I look forward to join the company. Norgani enjoys respect in the hotel property industry thanks to its able organization and quality tenants, and this represents a solid platform for further profitable expansion," said Roar Ingdal. "My most immediate priorities will be to ensure a smooth integration of Norgani Hotels, develop the organization and employees and capitalize on attractive business opportunities, with the strong backing of Norwegian Property," Ingdal added
 
Ingdal will join Norgani Hotels, at latest May 1st, with a strong mandate to focus on strategic growth in the Nordic hotel property market.
 
"We are very pleased to have Roar at the helm of Norgani Hotels, and his appointment underlines our commitment to profitable growth of the hotel property business in the Nordic region. Roar brings relevant hotel and management experience, and he is qualified to deliver on his mandate to grow the company further under the Norwegian Property umbrella," said Petter Jansen, CEO of Norwegian Property.
For further information please contact:
Norgani Hotels: Roar Ingdal,  +47 9203 8777
Norwegian Property: Petter Jansen, +47 9009 8728