RNS Number:2887D
Thistle Hotels PLC
04 November 2002


                                                                 4 November 2002


                         THISTLE HOTELS PLC ("THISTLE")
                   SHARE PRICE MOVEMENT AND PRESS SPECULATION


Thistle notes the movement in its share price on 1 November 2002 and subsequent
press speculation that BIL International Limited ("BIL"), Thistle's largest
shareholder, is in discussions to sell its shareholding of approximately 46 per
cent. in Thistle to a third party.

Thistle has not been informed of any such discussions and notes BIL's
announcement today confirming that it is not engaged in such talks and/or
negotiations.

However, Thistle notes the announcement by BIL on 22 October 2002 which stated
that:

"BIL is aware that discussions are still ongoing with one of its substantial
shareholders and a prospective buyer to purchase a block of BIL shares."

Thistle is also aware of these discussions but has not been informed of any
outcome.

Thistle has also noted Orb a.r.l.'s ("Orb") announcement today which stated:


"Orb announces that it is considering various strategic options including the
acquisition of Thistle, but that it has not entered into formal discussions with
the board of Thistle. If such a transaction were to proceed, it is likely that
it would be an offer at a modest premium to the current share price."

Thistle confirms that no such discussions have taken place with Orb.

Enquiries:

THISTLE HOTELS PLC                                      Telephone: 020 7895 2304
Ian Burke, Chief Executive Officer

MERRILL LYNCH INTERNATIONAL                             Telephone: 020 7995 2000
Simon Mackenzie-Smith, Managing Director
Richard Nourse, Managing Director

HOGARTH PARTNERSHIP LIMITED                             Telephone: 020 7357 9477
Nick Denton
Chelsea Hayes

Merrill Lynch International is acting for Thistle and no one else in connection
with a possible offer for Thistle and will not be responsible to anyone else for
providing the protections afforded to the clients of Merrill Lynch International
nor for providing advice in relation to such possible offer.

NOTES TO EDITORS:


Thistle is the largest hotel operator in London with 22 hotels in prime
locations throughout the capital and has hotels in key regional cities of
England, Scotland and Wales.


There are 56 Thistle Hotels of which 18 are owned or leased and 38 are managed.
There are a total of 10,728 bedrooms of which 5,204 are in owned or leased
hotels and 5,524 are in managed hotels. In London there are 4,747 rooms in 16
owned or leased hotels and 1,268 rooms in 6 managed hotels. In the Regions there
are 457 rooms in 2 owned or leased hotels and 4,256 rooms in 32 managed hotels.


London hotels include the Thistle Tower, the Thistle Charing Cross, the Thistle
Marble Arch, the Thistle City Barbican, the Thistle Victoria and The Royal
Horseguards. Thistle operates hotels in Aberdeen, Bristol, Birmingham, Cardiff,
Edinburgh, Glasgow, Liverpool, Manchester and Newcastle among other regional
centres as well as hotels at airports in Aberdeen, East Midlands, Gatwick,
Heathrow, Luton and Manchester.


BIL is a Singapore listed investment holding company whose assets include a
45.9% shareholding in Thistle. BIL and Thistle have two common directors.


END


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

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