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<SEC-DOCUMENT>0001191638-08-000257.txt : 20080219
<SEC-HEADER>0001191638-08-000257.hdr.sgml : 20080218
<ACCEPTANCE-DATETIME>20080219070635
ACCESSION NUMBER:		0001191638-08-000257
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080219
FILED AS OF DATE:		20080219
DATE AS OF CHANGE:		20080219

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INTERCONTINENTAL HOTELS GROUP PLC /NEW/
		CENTRAL INDEX KEY:			0000858446
		STANDARD INDUSTRIAL CLASSIFICATION:	HOTELS & MOTELS [7011]
		IRS NUMBER:				250420260
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-10409
		FILM NUMBER:		08624673

	BUSINESS ADDRESS:	
		STREET 1:		67 ALMA ROAD
		STREET 2:		WINDSOR
		CITY:			BERKSHIRE
		STATE:			X0
		ZIP:			SL4 3HD
		BUSINESS PHONE:		4045513500

	MAIL ADDRESS:	
		STREET 1:		67 ALMA ROAD
		STREET 2:		WINDSOR
		CITY:			BERKSHIRE
		STATE:			X0
		ZIP:			SL4 3HD

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SIX CONTINENTS PLC
		DATE OF NAME CHANGE:	19950531
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>ihg200802196k.htm
<DESCRIPTION>FULL YEAR RESULTS TO 31.12.07
<TEXT>
<html>
    <head>
        <title></title>
    </head>

    <body>
        <p align="center"><font size="2">SECURITIES AND EXCHANGE COMMISSION</font></p>

        <p align="center"><font size="2">Washington DC 20549</font></p>

        <p align="center"><font size="4"><b>FORM 6-K</b></font></p>

        <p align="center"><font size="2">REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16
        AND 15d-16 OF<br>
        THE SECURITIES EXCHANGE ACT OF 1934</font></p>

        <p align="center"><font size="2">For&nbsp;19&nbsp;February, 2008</font></p>

        <p align="center"><font size="4"><b>InterContinental Hotels Group PLC</b><br>
        (Registrant's name)</font></p>

        <p align="center"><font size="2">67 Alma Road, Windsor, Berkshire, SL4 3HD, England<br>
        (Address of principal executive offices)</font></p>

        <p align="left"><font size="2">Indicate by check mark whether the registrant files or will
        file annual reports under cover Form 20-F or Form 40-F.</font></p>

        <p align="center"><font size="2">Form
        20-F&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Form 40-F</font></p>

        <p align="left"><font size="2">Indicate by check mark whether the registrant by furnishing
        the information contained in this form is also thereby furnishing the information to the
        Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.</font></p>

        <p align="center">
        <font size="2">Yes&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
        No</font></p>

        <p align="left"><font size="2">If "Yes" is marked, indicate below the file number assigned
        to the registrant in connection with Rule 12g3-2(b): Not applicable</font></p>
        <hr align="center" width="100%" noshade size="2">

        <p align="center"><font size="2">EXHIBIT INDEX</font></p>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="bottom">
                <th colspan="2">
                </th>

                <th colspan="2">
                </th>

                <th colspan="2">
                </th>
            </tr>

            <tr valign="top">
                <td align="left" width="20%">Exhibit Number</td>

                <td align="left" width="5%">&nbsp;</td>

                <td align="left" width="69%">Exhibit Description</td>
            </tr>

            <tr valign="top">
                <td align="left"><br>
                99.1</td>

                <td align="left">&nbsp;</td>

                <td align="left"><br>
                Full Year Results to 31.12.07&nbsp;dated&nbsp;19 February,&nbsp;2008</td>
            </tr>

            <tr valign="top">
                <td align="left">
                </td>

                <td align="left">&nbsp;</td>

                <td align="left">
                </td>
            </tr>

            <tr valign="top">
                <td align="left">
                </td>

                <td align="left">&nbsp;</td>

                <td align="left">
                </td>
            </tr>
        </table>

        <p>&nbsp;</p>
        <hr align="center" width="100%" noshade size="2">

        <p align="left"><font size="2">99.1</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">19 February
        2008</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">InterContinental Hotels Group
        PLC</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Full Year Results to 31
        December 2007</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        &nbsp;</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="706" border="0">
            <tr>
                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: black 0.5pt solid; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="706" colspan="2">
                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Headlines</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="26">
                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    o</p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="680">
                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">System size increase
                    of 5%, 28,848 net rooms, taking total to 585,094 (3,949 hotels).</font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="26">
                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    o</p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="680">
                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Global constant
                    currency RevPAR growth of 7%.</font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="26">
                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    o</p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="680">
                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Total gross revenue*
                    from all hotels in IHG&rsquo;s system of $18bn, up 14% in constant
                    currency.</font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="26">
                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    o</p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="680">
                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Continuing revenue
                    up 12% from &pound;786m to &pound;883m, up 20% at constant currency.</font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="26">
                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <a name="OLE_LINK1"></a>o</p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="680">
                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Continuing operating
                    profit up 19% from &pound;200m to &pound;237m, up 30% at constant
                    currency.</font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="26">
                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    o</p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="680">
                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Operating profit
                    including discontinued operations up 6% from &pound;231m to
                    &pound;245m.</font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="26">
                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    o</p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="680">
                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Adjusted continuing
                    earnings per share up 23% from 38.0p to 46.9p. Total basic earnings per share
                    of 72.2p.</font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="26">
                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    o</p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="680">
                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Final dividend up
                    12% to 14.9p. Total dividend of 20.6p, up 12%. &pound;3.5bn returned to
                    shareholders since March 2004.</font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="26">
                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    o</p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="680">
                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">2007 signings up 22%
                    to 125,533 rooms (873 hotels). Fourth quarter signings of 41,908 rooms, taking
                    pipeline to 225,872.</font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="26">
                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    o</p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="680">
                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">January 2008 global
                    constant currency RevPAR growth of 5.4%.</font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="706" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; BORDER-BOTTOM: 0.5pt solid" align="left">
                    <font style="FONT-SIZE: 8pt; FONT-FAMILY: 'ARIAL NARROW'">*See appendix 5 for
                    definition. All figures and movements unless otherwise noted are at actual
                    exchange rates and before exceptional items. See appendix 3 for analysis of
                    financial headlines. Constant exchange rate comparatives shown in appendix
                    4.</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="706" border="0">
            <tr>
                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: black 0.5pt solid; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="middle" width="706">
                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Commenting on the
                    results and trading, Andrew Cosslett, Chief Executive of InterContinental
                    Hotels Group PLC said:</font></b></p>
                </td>
            </tr>

            <tr style="HEIGHT: 41pt">
                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="706">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">&ldquo;IHG delivered
                    a strong performance in 2007 reporting continuing revenue growth of 20% in
                    constant currency. The number of rooms in our system grew by a record 5% and
                    global RevPAR increased 7%, with all our brands out-performing in their major
                    markets across the world. We&nbsp;signed almost 900 hotels into our development
                    pipeline during the year, more than three times the number signed in 2003, our
                    first year as an independent company.</font></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">&ldquo;We are
                    continuing to strengthen our brands, and to expand their geographic reach. The
                    2005 relaunch of the InterContinental brand is now delivering major benefits,
                    with significant RevPAR outperformance and a further 33 new hotels signed in
                    the year. During the year we announced the relaunch of our biggest brand,
                    Holiday Inn, and the response from our owner community has been very positive.
                    Following continued success in the US, Hotel Indigo and Staybridge Suites will
                    be opening in the UK in 2008, and we have plans for their wider geographic
                    roll-out.</font></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">&ldquo;</font><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">
                    We have the biggest development pipeline in the industry and this will deliver
                    another high level of hotel openings in 2008. With our broadly based portfolio
                    of brands and our resilient fee based business model we are positioned well for
                    future growth in what is now a less predictable economic
                    environment.</font><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">&rdquo;</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="706" border="0">
            <tr>
                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: black 0.5pt solid; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="706" colspan="2">
                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Rooms &ndash;
                    record signings and openings</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="26">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    o</p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="680">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">125,533 rooms were
                    signed in 2007, with excellent growth across all brands and all regions. In
                    Greater China, where we are the largest non-domestic hotel operator, 70 hotels,
                    25,590 rooms, were signed in the year. In the Middle East 19 hotels, 5,307
                    rooms, were signed, doubling the pipeline in that region. 33 InterContinental
                    hotels were signed, and in January 2008 IHG signed a 40 year agreement to
                    manage an InterContinental branded hotel in the Times Square area of New York
                    which is expected to open in mid 2010.</font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="26">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    o</p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="680">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">52,846 rooms were
                    added to the system including 3,542 rooms (15 hotels) through the IHG ANA joint
                    venture. In line with our strategy of driving quality growth 23,998 rooms were
                    exited, giving net room additions of 28,848 rooms. IHG has now added 47,419
                    rooms towards its three year target of adding 50,000 to 60,000 net rooms by the
                    end of 2008.</font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="26">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    o</p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="680">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">The pipeline of
                    hotels now stands at 1,674 (225,872 rooms). The global pipeline of Holiday Inn
                    brand family hotels grew by 204 hotels (26,793 rooms) to 1,077 hotels (127,087
                    rooms), and represents a 30% share of future pipeline supply in the US midscale
                    segment. The InterContinental pipeline stands at a record 62 hotels,
                    representing 39% of its current rooms open.</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="706" border="0">
            <tr>
                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: black 0.5pt solid; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="706">
                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Strengthening
                    Operating System</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="706">
                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Strong revenue
                    delivery to hotel owners through reservation channels and loyalty programme,
                    Priority Club Rewards:</font></p>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="706" border="0">
            <tr>
                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="26">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    o</p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="680">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">$6.8bn of rooms
                    revenue booked through IHG's reservation channels, up 19% and representing 45%
                    of total rooms revenue.</font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="26">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    o</p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="680">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">$5.2bn of rooms
                    revenue from Priority Club Rewards members, up 16% and representing 35% of
                    total rooms revenue.</font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="26">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    o</p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="680">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Internet revenues
                    increased from 16% to 17% of total rooms revenue, 85% from IHG's own
                    websites.</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="706" border="0">
            <tr>
                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: black 0.5pt solid; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="706">
                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Disposals and
                    returns of funds</font></b></p>
                </td>
            </tr>

            <tr style="HEIGHT: 27.9pt">
                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="706">
                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">In 2007 disposal
                    proceeds of &pound;106m were received. This included the sale of IHG&rsquo;s
                    33.3% interest in Crowne Plaza London The City for &pound;19m, the disposal of
                    Crowne Plaza Santiago for &pound;11m and Holiday Inn Disney, Paris for
                    &pound;14m, and the sale of IHG&rsquo;s 74.11% interest in the InterContinental
                    Montreal for &pound;17m.</font></p>

                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">In 2007 &pound;709m
                    was paid to shareholders by way of a special dividend with associated share
                    consolidation and 7.7m shares were repurchased at a cost of &pound;81m. This
                    leaves &pound;100m of a previously announced &pound;150m share buyback
                    programme to be completed and takes the total returned to shareholders since
                    March 2004 to &pound;3.5bn. There were 295m shares outstanding at the end of
                    December, 291m after the deduction of shares in the ESOP and 299m on a fully
                    diluted basis.</font></p>

                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">IHG&rsquo;s net debt
                    at the period end was &pound;825m including the $200m (&pound;100m) finance
                    lease on the InterContinental Boston.</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <br>
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="706" border="0">
            <tr>
                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: black 0.5pt solid; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="706">
                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Americas: strong
                    revenue and profit growth</font></b></p>
                </td>
            </tr>

            <tr style="HEIGHT: 143.2pt">
                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="706">
                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 3pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Revenue
                    performance</font></b></p>

                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 3pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">RevPAR increased
                    6.1% with rate generating all of the increase. InterContinental, Crowne Plaza,
                    Holiday Inn and Holiday Inn Express each outperformed their market segments,
                    with RevPAR up 10.1%, 7.5%, 4.9% and 6.7% respectively. In line with the
                    industry, RevPAR growth moderated in the fourth quarter as a result of slight
                    occupancy declines. Continuing revenue grew 16% from $778m to $902m driven by
                    34% growth in revenues from owned and leased hotels and 10% growth in managed
                    and franchised revenues.</font></p>

                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 3pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Operating profit
                    performance</font></b></p>

                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 3pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Operating profit
                    from continuing operations increased 11% from $395m to $440m. Continuing owned
                    and leased hotels profit increased from $22m to $40m, driven by 14% RevPAR
                    growth at the InterContinental New York and an $11m increased contribution from
                    the InterContinental Boston which opened in November 2006. While managed hotels
                    revenues grew strongly, up 9%, after the impact of increased revenue investment
                    to support new signings and openings and $6m of charges not related to
                    underlying trading, profit fell $9m to $41m. Franchised hotels profit increased
                    11% to $425m reflecting RevPAR growth of 5.8% and net rooms growth of
                    4.0%.</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="706" border="0">
            <tr>
                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: black 0.5pt solid; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="706">
                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">EMEA: strong
                    RevPAR and profit growth</font></b></p>
                </td>
            </tr>

            <tr style="HEIGHT: 27.5pt">
                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="706">
                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 3pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Revenue
                    performance</font></b></p>

                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 3pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">RevPAR increased
                    8.6%, driven by increased occupancy and 6.3% rate growth. The Middle East
                    continued to perform strongly, raising RevPAR by 19.6%. Continental Europe grew
                    RevPAR by 7.6%, with strong increases in France of 10.3% but slower growth in
                    Germany due to the year on year impact of the football 2006 World Cup. In the
                    UK, Holiday Inn and Holiday Inn Express outperformed their market segment with
                    RevPAR growth of 6.3%.</font></p>

                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 3pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Operating profit
                    performance</font></b></p>

                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 3pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Operating profit
                    from continuing operations increased 81% from &pound;37m to &pound;67m.
                    Continuing owned and leased hotel operations improved &pound;21m to &pound;17m.
                    The InterContinental London Park Lane contributed &pound;14m of the improvement
                    following the completion of its refurbishment at the end of June 2007. The
                    performance of the InterContinental Paris Le Grand continued to strengthen with
                    a 14% RevPAR increase and improved profit margins. Managed hotels profit
                    increased 16% from &pound;37m to &pound;43m benefiting from retained management
                    contracts on assets sold in 2006. Franchised hotels profit increased 21% from
                    &pound;24m to &pound;29m reflecting RevPAR growth of 7% and net rooms growth of
                    10%.</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="706" border="0">
            <tr>
                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: black 0.5pt solid; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="706">
                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Asia Pacific:
                    strong revenue and profit growth with growing contribution from China and
                    Japan</font></b></p>
                </td>
            </tr>

            <tr style="HEIGHT: 59.5pt">
                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="706">
                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Revenue
                    performance</font></b></p>

                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">RevPAR increased
                    8.9%, mainly driven by rate. All brands performed strongly with
                    InterContinental up 11.1%, Crowne Plaza up 6.5%, Holiday Inn up 8.7% and
                    Holiday Inn Express up 11.0%. Greater China RevPAR increased 7.0%, driven by
                    rate increases. Continuing revenues grew 27% from $204m to $260m, driven by 52%
                    growth in managed revenues and the doubling of franchised revenues.</font></p>

                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Operating profit
                    performance</font></b></p>

                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Operating profit
                    from continuing operations grew 21% from $52m to $63m. Owned and leased hotels
                    operating profit increased 16% to $36m. Managed hotels profit grew 18% to $46m.
                    The contribution from the increasing number of hotels under IHG management was
                    partly offset by the previously disclosed integration and ongoing costs
                    associated with the ANA joint venture in Japan and continued infrastructure
                    investment in China. Franchised hotels profit increased 20% to $6m driven by
                    RevPAR growth of 15% and net room count growth of 13%, offset by the impact of
                    higher costs associated with the ANA joint venture in Japan.</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="706" border="0">
            <tr>
                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: black 0.5pt solid; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="706">
                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Overheads, Tax
                    and Exceptional items</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="706">
                    <p style="MARGIN-TOP: 3pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Total regional
                    overheads increased &pound;4m to &pound;68m. Central overheads were flat at
                    &pound;81m.</font></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt; COLOR: #000000; FONT-FAMILY: 'ARIAL NARROW'">The
                    effective tax rate for 2007 is 22%; the underlying rate before the impact of
                    prior year items is 36%. As previously disclosed the effective tax rate will be
                    volatile in the immediate future and trend upwards over time. The effective tax
                    rate in 2008 is expected to be in the mid to high 20&rsquo;s.</font></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">In 2007 IHG
                    announced its intention to make a non-recurring revenue investment of up to
                    &pound;30m to accelerate implementation of the global relaunch of the Holiday
                    Inn brands, which will be treated as an exceptional item in 2008. IHG expects
                    to generate a strong return on this investment through RevPAR increases on
                    completion of the relaunch.</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Appendix 1: Asset
        d</font></b><b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">isposal
        programme</font></b>
        <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">detail</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="479" border="0">
            <tr>
                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: black 0.5pt solid; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="167">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: black 0.5pt solid; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="103">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Number of owned
                    hotels</font></b></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: black 0.5pt solid; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="104">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Proceeds</font></b></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: black 0.5pt solid; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="103">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Net book
                    value</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="167">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Disposed since April
                    2003</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="103">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">181</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="104">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">&pound;3.0bn</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="103">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">&pound;2.9bn</font></p>
                </td>
            </tr>

            <tr style="HEIGHT: 15.9pt">
                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="167">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Remaining
                    hotels</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="103">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">18</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="104">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="103">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">&pound;0.9bn</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">For a full list please
        visit</font>
        <u><font style="FONT-SIZE: 11pt; COLOR: #0000ff; FONT-FAMILY: 'ARIAL NARROW'">
        www.ihg.com/Investors</font></u></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Appendix 2:</font></b>
        <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Rooms</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="678" border="0">
            <tr>
                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: black 1.5pt solid; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="167">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: black 1.5pt solid; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Americas</font></b></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: black 1.5pt solid; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="113">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">EMEA</font></b></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: black 1.5pt solid; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="129">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Asia
                    Pacific</font></b></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: black 1.5pt solid; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="135">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Total</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="167">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Openings</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">31,744</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="113">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">7,956</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="129">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">13,146</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="135">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">52,846</font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="167">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Removals</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">(17,794)</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="113">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">(4,996)</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="129">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">(1,208)</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="135">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">(23,998)</font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="167">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Net
                    openings</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">13,950</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="113">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">2,960</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="129">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">11,938</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="135">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">28,848</font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="167">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <i><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Signings</font></i></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">75,279</font></i></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="113">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">19,153</font></i></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="129">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">31,101</font></i></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="135">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">125,533</font></i></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Appendix 3: Financial
        headlines</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="678" border="0">
            <tr>
                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: black 1.5pt solid; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="196">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-FAMILY: 'ARIAL NARROW'">Twelve months to 31 Dec
                    &pound;m</font></b></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: black 1.5pt solid; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="96" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <b><font style="FONT-FAMILY: 'ARIAL NARROW'">Total</font></b></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: black 1.5pt solid; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="95" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <b><font style="FONT-FAMILY: 'ARIAL NARROW'">Americas</font></b></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: black 1.5pt solid; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="99" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <b><font style="FONT-FAMILY: 'ARIAL NARROW'">EMEA</font></b></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: black 1.5pt solid; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="96" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <b><font style="FONT-FAMILY: 'ARIAL NARROW'">Asia Pacific</font></b></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: black 1.5pt solid; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="95" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <b><font style="FONT-FAMILY: 'ARIAL NARROW'">Central</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="196">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-FAMILY: 'ARIAL NARROW'">2007</font></b></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><i><font style="FONT-FAMILY: 'ARIAL NARROW'">2006</font></i></b></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-FAMILY: 'ARIAL NARROW'">2007</font></b></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="48" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><i><font style="FONT-FAMILY: 'ARIAL NARROW'">2006</font></i></b></p>
                </td>

                <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-FAMILY: 'ARIAL NARROW'">2007</font></b></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="50">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><i><font style="FONT-FAMILY: 'ARIAL NARROW'">2006</font></i></b></p>
                </td>

                <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="46">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-FAMILY: 'ARIAL NARROW'">2007</font></b></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="49">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><i><font style="FONT-FAMILY: 'ARIAL NARROW'">2006</font></i></b></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="46">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-FAMILY: 'ARIAL NARROW'">2007</font></b></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><i><font style="FONT-FAMILY: 'ARIAL NARROW'">2006</font></i></b></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.8pt solid" valign="top" width="196">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">Franchised operating
                    profit</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.8pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">244</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.8pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-FAMILY: 'ARIAL NARROW'">235</font></i></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.8pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">212</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.8pt solid" valign="top" width="48" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-FAMILY: 'ARIAL NARROW'">208</font></i></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.8pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">29</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.8pt solid" valign="top" width="50">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-FAMILY: 'ARIAL NARROW'">24</font></i></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.8pt solid" valign="top" width="46">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">3</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.8pt solid" valign="top" width="49">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-FAMILY: 'ARIAL NARROW'">3</font></i></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.8pt solid" valign="top" width="46">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.8pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="196">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">Managed operating profit</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">87</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-FAMILY: 'ARIAL NARROW'">85</font></i></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">21</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="48" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-FAMILY: 'ARIAL NARROW'">27</font></i></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">43</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="50">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-FAMILY: 'ARIAL NARROW'">37</font></i></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="46">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">23</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="49">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-FAMILY: 'ARIAL NARROW'">21</font></i></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="46">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="196">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">Continuing owned and leased operating
                    profit</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">55</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-FAMILY: 'ARIAL NARROW'">25</font></i></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">20</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="48" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-FAMILY: 'ARIAL NARROW'">12</font></i></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">17</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="50">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-FAMILY: 'ARIAL NARROW'">(4)</font></i></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="46">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">18</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="49">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-FAMILY: 'ARIAL NARROW'">17</font></i></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="46">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="196">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">Regional overheads</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">(68)</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-FAMILY: 'ARIAL NARROW'">(64)</font></i></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">(33)</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="48" colspan="2">
                    <p style="MARGIN: 0pt 0.1in 0pt 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-FAMILY: 'ARIAL NARROW'">(32)</font></i></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">(22)</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="50">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-FAMILY: 'ARIAL NARROW'">(20)</font></i></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="46">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">(13)</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="49">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-FAMILY: 'ARIAL NARROW'">(12)</font></i></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="46">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="196">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">Continuing operating profit pre
                    central overheads</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">318</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-FAMILY: 'ARIAL NARROW'">281</font></i></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">220</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="48" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-FAMILY: 'ARIAL NARROW'">215</font></i></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">67</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="50">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-FAMILY: 'ARIAL NARROW'">37</font></i></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="46">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">31</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="49">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-FAMILY: 'ARIAL NARROW'">29</font></i></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="46">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="196">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">Central overheads</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">(81)</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-FAMILY: 'ARIAL NARROW'">(81)</font></i></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">-</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="48" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-FAMILY: 'ARIAL NARROW'">-</font></i></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">-</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="50">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-FAMILY: 'ARIAL NARROW'">-</font></i></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="46">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">-</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="49">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-FAMILY: 'ARIAL NARROW'">-</font></i></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="46">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">(81)</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <i><font style="FONT-FAMILY: 'ARIAL NARROW'">(81)</font></i></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="top" width="196">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">Continuing operating
                    profit</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">237</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-FAMILY: 'ARIAL NARROW'">200</font></i></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">220</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="48" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-FAMILY: 'ARIAL NARROW'">215</font></i></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">67</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="50">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-FAMILY: 'ARIAL NARROW'">37</font></i></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="46">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">31</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="49">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-FAMILY: 'ARIAL NARROW'">29</font></i></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="46">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="196">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">Discontinued owned and leased
                    operating profit</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">8</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-FAMILY: 'ARIAL NARROW'">31</font></i></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">8</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="48" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-FAMILY: 'ARIAL NARROW'">6</font></i></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">0</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="50">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-FAMILY: 'ARIAL NARROW'">25</font></i></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="46">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">0</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="49">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-FAMILY: 'ARIAL NARROW'">0</font></i></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="46">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="196">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">Total operating profit</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">245</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-FAMILY: 'ARIAL NARROW'">231</font></i></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">228</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="48" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-FAMILY: 'ARIAL NARROW'">221</font></i></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">67</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="50">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-FAMILY: 'ARIAL NARROW'">62</font></i></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="46">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">31</font></p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="49">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-FAMILY: 'ARIAL NARROW'">29</font></i></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="46">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="BORDER-RIGHT: black 1.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1.5pt solid" valign="top" width="48">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="middle" width="196">
                &nbsp;</td>

                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="middle" width="48">
                &nbsp;</td>

                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="middle" width="48">
                &nbsp;</td>

                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="middle" width="48">
                &nbsp;</td>

                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="middle" width="47">
                &nbsp;</td>

                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="middle" width="9">
                &nbsp;</td>

                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="middle" width="48">
                &nbsp;</td>

                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="middle" width="50">
                &nbsp;</td>

                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="middle" width="46">
                &nbsp;</td>

                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="middle" width="50">
                &nbsp;</td>

                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="middle" width="47">
                &nbsp;</td>

                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="middle" width="48">
                &nbsp;</td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Appendix 4:</font></b>
        <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Constant currency continuing
        operating profits before exceptional items.</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="679" border="0">
            <tr>
                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: black 0.5pt solid; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="59">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
                    &nbsp;</p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: black 0.5pt solid; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="155" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Americas</font></b></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: black 0.5pt solid; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="141" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">EMEA</font></b></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: black 0.5pt solid; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="160" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Asia
                    Pacific</font></b></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: black 0.5pt solid; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="161" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Total***</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="59">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
                    &nbsp;</p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="81">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Actual
                    currency*</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="73">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Constant
                    currency**</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="66">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Actual
                    currency*</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="75">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Constant
                    currency**</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Actual
                    currency*</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="75">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Constant</font></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Currency**</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Actual
                    currency*</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="76">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Constant
                    currency**</font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: black 0.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="59">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Growth</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="81">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">2%</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="73">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">11%</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="66">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">81%</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="75">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">86%</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">7%</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="75">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">21%</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">19%</font></p>
                </td>

                <td style="BORDER-RIGHT: black 0.5pt solid; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 0.5pt solid" valign="top" width="76">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">30%</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="139">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'ARIAL NARROW'">Exchange
                    rates</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'ARIAL NARROW'">USD:GBP</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="75">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'ARIAL NARROW'">EUR:GBP</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="139">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 8pt; FONT-FAMILY: 'ARIAL NARROW'">2007</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 8pt; FONT-FAMILY: 'ARIAL NARROW'">2.01</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="75">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 8pt; FONT-FAMILY: 'ARIAL NARROW'">1.46</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="139">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 8pt; FONT-FAMILY: 'ARIAL NARROW'">2006</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 8pt; FONT-FAMILY: 'ARIAL NARROW'">1.84</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="75">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 8pt; FONT-FAMILY: 'ARIAL NARROW'">1.47</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 8pt; FONT-FAMILY: 'ARIAL NARROW'">* Sterling actual
        currency</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 8pt; FONT-FAMILY: 'ARIAL NARROW'">** Translated at constant 2006
        exchange rates</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 8pt; FONT-FAMILY: 'ARIAL NARROW'">*** After Central
        Overheads</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Appendix 5:</font></b>
        <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Definition of total gross
        revenue</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Total gross revenue is defined
        as total room revenue from franchised hotels and total hotel revenue from managed, owned
        and leased hotels. It is not revenue attributable to IHG, as it is derived mainly from
        hotels owned by third parties. The metric is highlighted as an indicator of the scale and
        reach of IHG&rsquo;s brands.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Appendix 6: Investor
        information for 2007 final dividend</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="678">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Ex-dividend Date: 26
                    March 2008</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="678">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Record Date: 28
                    March 2008</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="678">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Payment Date: 6 June
                    2008</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="678">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Dividend payment:
                    Ordinary shares 14.9p per share: ADRs 29.2c per ADR</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">For further information,
        please contact:</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="630" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="404">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Investor Relations
                    (Paul Edgecliffe-Johnson; Heather Wood):</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="226">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.1in" align="right">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">+44 (0) 1753 410
                    176</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="404">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Media Affairs
                    (Leslie McGibbon; Claire Williams):</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="226">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">+44 (0) 1753 410
                    425</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="404">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="226">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">+44 (0) 7808 094
                    471</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">High resolution images to
        accompany this announcement are available for the media to download free of charge from
        www.vismedia.co.uk . This includes profile shots of the key executives.</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        &nbsp;</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Presentation for Analysts and
        Shareholders</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-FAMILY: 'ARIAL NARROW'">A presentation with Andrew Cosslett (Chief
        Executive) and Richard Solomons (Finance Director) will commence at 9.30am (London time) on
        19 February at the Crowne Plaza, The City, 19 New Bridge Street, London, EC24V 6DB. There
        will be an opportunity to ask questions. The presentation will conclude at approximately
        10.30am (London time).</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 11pt; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-FAMILY: 'ARIAL NARROW'">There will be a live audio webcast of the results
        presentation on the web address
        <u><font style="COLOR: #0000ff; FONT-FAMILY: 'ARIAL NARROW'">
        www.ihg.com/prelims08</font></u><font style="FONT-FAMILY: 'ARIAL NARROW'">. The
        archived webcast of the presentation is expected to be on this website later on the day of
        the results and will remain on it for the foreseeable future. There will also be a live
        dial-in facility</font></font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="217">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">International dial-in</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="425">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">020 7863 6164</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">US Q&amp;A conference
        call</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-FAMILY: 'ARIAL NARROW'">There will also be a conference call, primarily
        for US investors and analysts, at 9.00am (Eastern Standard Time) on 19 February with Andrew
        Cosslett (Chief Executive) and Richard Solomons (Finance Director). There will be an
        opportunity to ask questions.</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="217">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">International dial-in</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="425">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">+44 (0)1452 556 518</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="217">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">US Toll Free</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="425">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">1866 966 4782</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="217">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">Conference ID:</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="425">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">32546784</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-FAMILY: 'ARIAL NARROW'">A recording of the conference call will also be
        available for 7 days. To access this please dial the relevant number below and use the
        access number 32546784#</font></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="217">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">International dial-in</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="425">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">+44 (0)1452 550 000</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="217">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">US Toll Free</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="425">
                    <p style="MARGIN-TOP: 0pt; FONT-SIZE: 11pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-FAMILY: 'ARIAL NARROW'">1866 247 4222</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 12pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Website</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">The full release and
        supplementary data will be available on our website from 7.00 am (London time) on Tuesday
        19 February. The web address is</font>
        <u><font style="COLOR: #0000ff; FONT-FAMILY: 'ARIAL NARROW'">
        www.ihg.com/prelims08</font></u></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="FONT-SIZE: 11pt; COLOR: #000000; FONT-FAMILY: 'ARIAL NARROW'">Notes to
        Editors:</font></b></p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">InterContinental Hotels Group
        PLC (IHG) of the United Kingdom [LON:IHG, NYSE:IHG (ADRs)] is one of the world's largest
        hotel groups by number of rooms. IHG owns, manages, leases or franchises, through various
        subsidiaries, over 3,900 hotels and more than 585,000 guest rooms in nearly 100 countries
        and territories around the world. IHG owns a portfolio of well recognised and respected
        hotel brands including
        InterContinental</font><sup><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">&reg;</font></sup>
        <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Hotels &amp; Resorts, Crowne
        Plaza</font><sup><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">&reg;</font></sup>
        <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Hotels &amp; Resorts, Holiday
        Inn</font><sup><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">&reg;</font></sup>
        <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Hotels and Resorts, Holiday Inn
        Express</font><sup><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">&reg;</font></sup><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">
        , Staybridge
        Suites</font><sup><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">&reg;</font></sup><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">
        , Candlewood
        Suites</font><sup><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">&reg;</font></sup>
        <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">and Hotel
        Indigo</font><sup><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">&reg;</font></sup><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">
        , and also manages</font>
        <font style="FONT-SIZE: 11pt; COLOR: #000000; FONT-FAMILY: 'ARIAL NARROW'">the world's
        largest hotel loyalty programme, Priority
        Club</font><sup><font style="FONT-SIZE: 11pt; COLOR: #000000; FONT-FAMILY: 'ARIAL NARROW'">&reg;</font></sup>
        <font style="FONT-SIZE: 11pt; COLOR: #000000; FONT-FAMILY: 'ARIAL NARROW'">Rewards</font>
        <font style="FONT-SIZE: 11pt; COLOR: #000000; FONT-FAMILY: 'ARIAL NARROW'">with over 37
        million members
        worldwide</font><font style="FONT-SIZE: 11pt; COLOR: #000000; FONT-FAMILY: 'ARIAL NARROW'">.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">The company pioneered the travel
        industry&rsquo;s first collaborative response to environmental issues as</font>
        <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">founder of the International
        Hotels and Environment Initiative (IHEI). The IHEI formed the foundations of the Tourism
        Partnership launched by the International Business Leaders Forum in 2004, of which IHG is
        still a member today. The environment and local communities remain at the heart of
        IHG&rsquo;s global corporate responsibility focus.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">IHG offers information and
        online reservations for all its hotel brands at</font>
        <u><font style="FONT-SIZE: 11pt; COLOR: #0000ff; FONT-FAMILY: 'ARIAL NARROW'">
        www.ihg.com</font></u><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">and
        information for the Priority Club Rewards programme at</font>
        <u><font style="FONT-SIZE: 11pt; COLOR: #0000ff; FONT-FAMILY: 'ARIAL NARROW'">
        www.priorityclub.com</font></u><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">
        . For the latest news from IHG, visit our online Press Office at</font>
        <u><font style="FONT-SIZE: 11pt; COLOR: #0000ff; FONT-FAMILY: 'ARIAL NARROW'">
        www.ihg.com/media</font></u></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="justify">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <u><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">Cautionary note regarding
        forward-looking statements</font></u></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'ARIAL NARROW'">This announcement contains
        certain forward-looking statements as defined under US law (Section 21E of the Securities
        Exchange Act of 1934). These forward-looking statements can be identified by the fact that
        they do not relate to historical or current facts. Forward-looking statements often use
        words such as &lsquo;anticipate&rsquo;, &lsquo;target&rsquo;, &lsquo;expect&rsquo;,
        &lsquo;estimate&rsquo;, &lsquo;intend&rsquo;, &lsquo;plan&rsquo;, &lsquo;goal&rsquo;,
        &lsquo;believe&rsquo; or other words of similar meaning. By their nature, forward-looking
        statements are inherently predictive, speculative and involve risk and uncertainty. There
        are a number of factors that could cause actual results and developments to differ
        materially from those expressed in or implied by, such forward-looking statements. Factors
        that could affect the business and the financial results are described in &lsquo;Risk
        Factors&rsquo; in the InterContinental Hotels Group PLC Annual report on Form 20-F filed
        with the United States Securities and Exchange Commission.</font><br>
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">This business review (BR) provides a commentary on the
        performance of InterContinental Hotels Group PLC (the Group or IHG) for the financial year
        ended 31 December 2007.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="FONT-SIZE: 11pt; TEXT-TRANSFORM: uppercase">Group
        Performance</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="619" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">12 months ended 31 December</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">2007</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">2006</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">%</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt">Group Results</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">&pound;m</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">&pound;m</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">change</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt">Revenue:</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Americas</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">450</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">422</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">6.6</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">EMEA</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">245</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">198</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">23.7</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Asia Pacific</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">130</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">111</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">17.1</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Central</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">58</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">55</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">5.5</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Continuing operations</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">883</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">786</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">12.3</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Discontinued operations</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">40</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">174</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">(77.0)</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">923</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">960</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">(3.9)</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt">Operating profit:</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Americas</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">220</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">215</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">2.3</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">EMEA</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">67</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">37</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">81.1</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Asia Pacific</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">31</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">29</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">6.9</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Central</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">(81)</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">(81)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">-</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Continuing operations</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">237</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">200</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">18.5</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Discontinued operations</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">8</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">31</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">(74.2)</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Operating profit before exceptional
                    items</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">245</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">231</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">6.1</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Exceptional operating items</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">30</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">27</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">11.1</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">___</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Operating profit</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">275</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">258</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">6.6</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Net financial expenses</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">(45)</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">(11)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">(309.1)</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">___</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Profit before tax*</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">230</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">247</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">(6.9)</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">___</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Analysed as:</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <i><font style="FONT-SIZE: 11pt">Continuing operations</font></i></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><i><font style="FONT-SIZE: 11pt">222</font></i></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-SIZE: 11pt">216</font></i></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-SIZE: 11pt">2.8</font></i></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <i><font style="FONT-SIZE: 11pt">Discontinued operations</font></i></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><i><font style="FONT-SIZE: 11pt">8</font></i></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-SIZE: 11pt">31</font></i></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <i><font style="FONT-SIZE: 11pt">(74.2)</font></i></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt">Earnings per ordinary share:</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Basic</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">72.2p</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">104.1p</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">(30.6)</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Adjusted</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">48.4p</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">42.9p</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">12.8</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Adjusted &ndash; continuing operations</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">46.9p</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">38.0p</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">23.4</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="619" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">*</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="576">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Profit before tax includes the results of
                    discontinued operations.</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>
        <!-- PAGE BREAK  --><!-- EEDocs PBStart-->
        <hr align="center" width="100%" noshade size="2">

        <p style="PAGE-BREAK-AFTER: always"></p>
        <!-- EEDocs PBEnd-->

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="FONT-SIZE: 11pt">Group Results</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">Revenue from continuing operations increased by 12.3% to
        &pound;883m and continuing operating profit increased by 18.5% to &pound;237m during the 12
        months ended 31 December 2007. The growth was driven by strong underlying RevPAR gains
        across all regions, hotel expansion in key markets and profit uplift from owned and leased
        assets. Furthermore, strong revenue conversion led to a 1.4 percentage point increase in
        continuing operating profit margins to 26.8%.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">Including discontinued operations, total revenue decreased by
        3.9% to &pound;923m whilst operating profit before exceptional items increased by 6.1% to
        &pound;245m, reflecting the year-on-year impact of asset disposals. Discontinued operations
        represent the results from operations that have been sold, or are held for sale, and where
        there is a coordinated plan to dispose of the operations under IHG&rsquo;s asset disposal
        programme. In this Business Review, discontinued operations include owned and leased hotels
        in the US, the UK and Continental Europe that have been sold or placed on the market from 1
        January 2006.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">As the weighted average US dollar exchange rate to sterling
        has weakened during 2007 (2007 $2.01:&pound;1, 2006 $1.84:&pound;1), growth rates for
        results expressed in US dollars are higher than those in sterling. Continuing operating
        profit before exceptional items was $474m, ahead of 2006 by 29.2%. Including discontinued
        operations, operating profit before exceptional items was $491m, 15.8% higher than 2006.
        Translated at constant currency, applying 2006 exchange rates, continuing revenue increased
        by 19.6% and continuing operating profit increased by 30.0%.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="619" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">12 months ended 31 December</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">2007</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">2006</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">%</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt">Total Gross Revenues</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">$bn</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">$bn</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">change</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">InterContinental</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">3.7</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">3.0</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">23.3</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Crowne Plaza</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">2.8</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">2.3</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">21.7</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Holiday Inn</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">6.7</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">6.3</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">6.3</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Holiday Inn Express</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">3.5</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">3.0</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">16.7</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Other brands</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">1.1</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">0.6</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">83.3</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Total</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">17.8</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">15.2</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">17.1</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="FONT-SIZE: 11pt">Total Gross Revenues</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">One measure of overall IHG hotel system performance is the
        growth in total gross revenue, defined as total room revenue from franchised hotels and
        total hotel revenue from managed, owned and leased hotels. Total gross revenue is not
        revenue attributable to IHG, as it is derived mainly from hotels owned by third
        parties.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">Total gross revenue increased by 17.1% from $15.2bn in 2006
        to $17.8bn in 2007, with strong growth levels achieved across IHG&rsquo;s key brands
        reflecting hotel performance and room growth. Translated at constant currency, total gross
        revenue increased by 14.5%.</font></p>
        <!-- PAGE BREAK  --><!-- EEDocs PBStart-->
        <hr align="center" width="100%" noshade size="2">

        <p style="PAGE-BREAK-AFTER: always"></p>
        <!-- EEDocs PBEnd-->

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="619" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="247" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="183" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <b><font style="FONT-SIZE: 11pt">Hotels</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="189" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <b><font style="FONT-SIZE: 11pt">Rooms</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="247" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt">Global hotel and room count</font></b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt">at 31 December</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">2007</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">Change</font></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">over 2006</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">2007</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">Change</font></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">over 2006</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="247" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Analysed by brand:</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">InterContinental</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">149</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">1</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">50,762</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">1,163</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Crowne Plaza</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">299</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">24</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">83,170</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">7,538</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Holiday Inn</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">1,381</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">(14)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">256,699</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">(3,771)</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Holiday Inn Express</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">1,808</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">122</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">156,531</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">12,949</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Staybridge Suites</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">122</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">25</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">13,466</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">2,513</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Candlewood Suites</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">158</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">28</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">16,825</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">2,676</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Hotel Indigo</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">11</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">5</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">1,501</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">608</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Other</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">21</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">17</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">6,140</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">5,172</font></p>
                </td>
            </tr>

            <tr style="HEIGHT: 6.7pt">
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">______</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="247" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Total</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">3,949</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">208</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">585,094</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">28,848</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">______</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="247" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Analysed by ownership type:</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Owned and leased</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">18</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">(7)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">6,396</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">(2,064)</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Managed</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">539</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">27</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">134,883</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">9,669</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Franchised</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">3,392</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">188</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">443,815</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">21,243</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">______</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="247" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Total</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">3,949</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">208</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">585,094</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">28,848</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">______</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="FONT-SIZE: 11pt">Global Hotel and Room Count</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">During 2007, the IHG global system (the number of hotels and
        rooms which are owned, leased, managed or franchised by the Group) increased by 208 hotels
        (28,848 rooms or 5.2%) to 3,949 hotels (585,094 rooms). The record growth level was driven,
        in particular, by continued expansion in the US, the UK, China and Japan, resulting in
        openings of 366 hotels (52,846 rooms).</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">Holiday Inn Express represented 58.7% of the net hotel
        growth, demonstrating strong market demand in the midscale, limited service sector. The
        extended stay portfolio, comprising Staybridge Suites and Candlewood Suites hotels,
        expanded by 53 hotels (5,189 rooms), indicating owner confidence in this sector. The net
        decline in the Holiday Inn hotel and room count (14 hotels and 3,771 rooms) primarily
        reflects IHG&rsquo;s continued strategy to reinvigorate the Holiday Inn brand through the
        removal of lower quality, non-brand conforming hotels in the US. This strategy is further
        supported by the worldwide brand relaunch of the Holiday Inn brand family, announced in
        October 2007, which entails the consistent delivery of best in class service and physical
        quality in all Holiday Inn and Holiday Inn Express hotels.</font></p>
        <!-- PAGE BREAK  --><!-- EEDocs PBStart-->
        <hr align="center" width="100%" noshade size="2">

        <p style="PAGE-BREAK-AFTER: always"></p>
        <!-- EEDocs PBEnd-->

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="534" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="207" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="158" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <b><font style="FONT-SIZE: 11pt">Hotels</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="168" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <b><font style="FONT-SIZE: 11pt">Rooms</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="207" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt">Global pipeline</font></b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt">at 31 December</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="74">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">2007</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">Change</font></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">over 2006</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">2007</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">Change</font></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">over 2006</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="207" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Analysed by brand:</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="74">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="25">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="181">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">InterContinental</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="74">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">62</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">26</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">20,013</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">6,802</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="25">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="181">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Crowne Plaza</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="74">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">118</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">58</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">36,362</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">19,249</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="25">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="181">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Holiday Inn</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="74">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">365</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">66</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">56,945</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">12,171</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="25">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="181">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Holiday Inn Express</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="74">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">712</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">138</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">70,142</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">14,622</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="25">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="181">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Staybridge Suites</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="74">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">157</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">37</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">17,150</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">4,545</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="25">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="181">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Candlewood Suites</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="74">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">207</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">79</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">18,605</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">6,882</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="25">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="181">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Hotel Indigo</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="74">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">52</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">28</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">6,565</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">3,520</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="25">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="181">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Other</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="74">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">1</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">1</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">90</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">90</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="25">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="181">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="74">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">______</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="207" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Total</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="74">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">1,674</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">433</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">225,872</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">67,881</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="25">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="181">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="74">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">______</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="207" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Analysed by ownership type:</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="74">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="25">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="181">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Managed</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="74">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">247</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">108</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">71,814</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">30,166</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="25">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="181">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Franchised</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="74">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">1,427</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">325</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">154,058</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">37,715</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="25">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="181">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="74">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">______</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="207" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Total</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="74">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">1,674</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">433</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">225,872</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">67,881</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="25">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="181">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="74">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">______</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="534" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="207">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="158" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <b><font style="FONT-SIZE: 11pt">Hotels</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="168" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <b><font style="FONT-SIZE: 11pt">Rooms</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="207">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt">Global pipeline signings</font></b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt">at 31 December</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="74">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">2007</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">Change</font></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">over 2006</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">2007</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">Change</font></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">over 2006</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="207">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="74">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="207">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Total</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="74">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">873</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">156</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">125,533</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">22,759</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="FONT-SIZE: 11pt">Global Pipeline</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">At the end of 2007, the IHG pipeline (contracts signed for
        hotels and rooms yet to enter the IHG global system) totalled 1,674 hotels (225,872 rooms).
        In the year, record room signings across all regions of 125,533 rooms led to pipeline
        growth of 67,881 rooms (or 43.0%). This level of growth demonstrates strong demand for IHG
        brands across all regions and represents a key driver of future profitability.</font></p>
        <!-- PAGE BREAK  --><!-- EEDocs PBStart-->
        <hr align="center" width="100%" noshade size="2">

        <p style="PAGE-BREAK-AFTER: always"></p>
        <!-- EEDocs PBEnd-->

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        THE AMERICAS</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="619" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">12 months ended 31 December</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">2007</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">2006</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">%</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt">Americas Results</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">$m</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">$m</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">change</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt">Revenue:</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Owned and leased</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">257</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">192</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">33.9</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Managed</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">156</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">143</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">9.1</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Franchised</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">489</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">443</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">10.4</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Continuing operations</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">902</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">778</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">15.9</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Discontinued operations*</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">62</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">74</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">(16.2)</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="165" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Total</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="165">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">$m</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">964</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">852</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">13.1</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="165" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Sterling equivalent</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="165">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">&pound;m</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">481</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">463</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">3.9</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt">Operating profit before exceptional
                    items:</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Owned and leased</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">40</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">22</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">81.8</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Managed</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">41</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">50</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">(18.0)</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Franchised</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">425</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">382</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">11.3</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">506</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">454</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">11.5</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Regional overheads</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">(66)</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">(59)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">(11.9)</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Continuing operations</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">440</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">395</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">11.4</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Discontinued operations*</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">16</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">12</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">33.3</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="165" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Total</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="165">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">$m</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">456</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">407</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">12.0</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="165" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Sterling equivalent</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="165">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">&pound;m</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">228</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">221</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">3.2</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">_____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="middle" width="43">
                &nbsp;</td>

                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="middle" width="122">
                &nbsp;</td>

                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="middle" width="166">
                &nbsp;</td>

                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="middle" width="96">
                &nbsp;</td>

                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="middle" width="96">
                &nbsp;</td>

                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="middle" width="96">
                &nbsp;</td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="619" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">*</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="576">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Discontinued operations are all owned and
                    leased.</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="619" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="427" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt">Americas Comparable RevPAR movement on
                    previous year</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="192">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">12 months ended</font></b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">31 December</font></b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">2007</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="427" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="192">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="427" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Owned and leased:</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="192">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="384">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">InterContinental</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="192">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">10.6%</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="427" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Managed:</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="192">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="384">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">InterContinental</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="192">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">10.8%</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="384">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Crowne Plaza</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="192">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">7.2%</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="384">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Holiday Inn</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="192">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">7.7%</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="384">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Staybridge Suites</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="192">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">2.0%</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="384">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Candlewood Suites</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="192">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">3.4%</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="427" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Franchised:</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="192">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="384">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Crowne Plaza</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="192">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">7.6%</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="384">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Holiday Inn</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="192">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">4.7%</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="384">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Holiday Inn Express</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="192">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">6.7%</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>
        <!-- PAGE BREAK  --><!-- EEDocs PBStart-->
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        <p style="PAGE-BREAK-AFTER: always"></p>
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        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="FONT-SIZE: 11pt">Americas Results</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">Revenue and operating profit from continuing operations
        increased by 15.9% to $902m and 11.4% to $440m respectively. Discontinued operations
        include the results of hotels sold during 2006 and 2007, together with two hotels currently
        on the market for disposal. Including discontinued operations, revenue increased by 13.1%
        whilst operating profit increased by 12.0%.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">The region achieved healthy RevPAR growth across all
        ownership types and RevPAR premiums to the US market segments for hotels operating under
        InterContinental, Crowne Plaza, Holiday Inn and Holiday Inn Express brands. During the
        fourth quarter, consistent with the US market, the region was impacted by a marginal
        softening in RevPAR growth due to a slight decline in occupancy levels.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">Continuing owned and leased revenue increased by 33.9% to
        $257m and operating profit increased by 81.8% to $40m. Positive underlying trading was
        driven by RevPAR growth of 9.7%, led by the InterContinental brand with growth of 10.6%.
        The results were favourably impacted by trading performance at the InterContinental Boston
        which became fully operational during the first half of the year (year-on-year profit
        increase of $11m) and trading at the InterContinental New York where robust market
        conditions lifted average occupancy levels to over 90%.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">Managed revenues increased by 9.1% to $156m during the year,
        driven by strong RevPAR growth, particularly in Latin America where rate-led RevPAR growth
        exceeded 20%. Robust brand performance resulted in RevPAR growth premiums, compared to
        respective US market segments, for InterContinental, Crowne Plaza and Holiday Inn. Growth
        in the extended stay segment was impacted by an increase in market supply. Managed revenues
        included $86m (2006 $80m) from properties that are structured, for legal reasons, as
        operating leases but with the same characteristics as management contracts.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">Managed operating profit decreased by 18.0% to $41m,
        including $6m (2006 $9m) from managed properties held as operating leases. The decline in
        profit principally reflects increased revenue investment to support growth in contract
        signings, the impact of fewer hotels under management contracts following the restructuring
        of the FelCor agreement in 2006, foreign exchange losses in Latin America and lower
        ancillary revenues together with higher costs at one of the hotels held as an operating
        lease. These items reduced operating profit margins in the managed estate by 8.7 percentage
        points to 26.3% and reduced continuing operating profit margins in the region by 2.0
        percentage points to 48.8%.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">Franchised revenue and operating profit increased by 10.4% to
        $489m and 11.3% to $425m respectively, compared to 2006. The increase was driven by RevPAR
        growth of 5.8%, net room count growth of 4.0% and fees associated with growth in
        signings.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">Regional overheads were affected positively in 2006 by lower
        claims in the Group-funded employee healthcare programme. Excluding this, regional
        overheads were in line with the prior period.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>
        <!-- PAGE BREAK  --><!-- EEDocs PBStart-->
        <hr align="center" width="100%" noshade size="2">

        <p style="PAGE-BREAK-AFTER: always"></p>
        <!-- EEDocs PBEnd-->

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="619" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="247" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="183" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <b><font style="FONT-SIZE: 11pt">Hotels</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="189" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <b><font style="FONT-SIZE: 11pt">Rooms</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="247" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt">Americas hotel and room count</font></b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt">at 31 December</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">2007</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">Change</font></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">over 2006</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">2007</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">Change</font></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">over 2006</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="247" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Analysed by brand:</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">InterContinental</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">50</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">1</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">16,624</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">99</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Crowne Plaza</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">172</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">17</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">47,893</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">5,289</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Holiday Inn</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">952</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">(35)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">177,999</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">(8,068)</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Holiday Inn Express</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">1,615</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">109</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">134,551</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">10,833</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Staybridge Suites</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">122</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">25</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">13,466</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">2,513</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Candlewood Suites</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">158</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">28</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">16,825</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">2,676</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Hotel Indigo</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">11</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">5</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">1,501</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">608</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">______</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="247" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Total</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">3,080</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">150</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">408,859</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">13,950</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">______</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="247" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Analysed by ownership type:</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Owned and leased</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">11</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">(2)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">4,029</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">(650)</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Managed</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">193</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">4</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">39,696</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">439</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Franchised</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">2,876</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">148</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">365,134</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">14,161</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">______</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="247" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Total</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">3,080</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">150</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">408,859</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">13,950</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">______</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="FONT-SIZE: 11pt">Americas Hotel and Room Count</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">The Americas hotel and room count grew by 150 hotels (13,950
        rooms) to 3,080 hotels (408,859 rooms). The growth includes openings of 274 hotels (31,744
        rooms) led by continued demand for Holiday Inn Express of 156 hotels (13,908 rooms).
        Franchised hotels contributed over 98% of net growth, reflecting sustained demand for the
        franchised model. Net growth also included removals of 124 hotels (17,794 rooms), of which
        Holiday Inn hotels represented 54.0% (69.2% of rooms).</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="534" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="207" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="158" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <b><font style="FONT-SIZE: 11pt">Hotels</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="168" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <b><font style="FONT-SIZE: 11pt">Rooms</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="207" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt">Americas pipeline</font></b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt">at 31 December</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="74">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">2007</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">Change</font></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">over 2006</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">2007</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">Change</font></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">over 2006</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="207" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Analysed by brand:</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="74">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="25">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="181">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">InterContinental</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="74">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">8</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">2</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">3,722</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">787</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="25">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="181">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Crowne Plaza</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="74">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">37</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">13</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">9,036</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">3,197</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="25">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="181">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Holiday Inn</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="74">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">265</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">53</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">33,029</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">6,463</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="25">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="181">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Holiday Inn Express</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="74">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">614</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">111</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">54,279</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">10,729</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="25">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="181">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Staybridge Suites</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="74">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">147</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">32</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">15,921</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">3,894</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="25">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="181">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Candlewood Suites</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="74">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">207</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">79</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">18,605</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">6,882</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="25">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="181">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Hotel Indigo</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="74">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">52</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">28</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">6,565</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">3,520</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="25">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="181">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="74">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">______</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="207" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Total</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="74">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">1,330</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">318</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">141,157</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">35,472</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="25">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="181">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="74">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">______</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="207" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Analysed by ownership type:</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="74">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="25">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="181">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Managed</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="74">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">21</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">7</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">4,961</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">1,251</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="25">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="181">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Franchised</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="74">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">1,309</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">311</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">136,196</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">34,221</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="25">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="181">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="74">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">______</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="207" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Total</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="74">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">1,330</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">318</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">141,157</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">35,472</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="25">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="181">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="74">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="85">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">______</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="FONT-SIZE: 11pt">Americas Pipeline</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">The Americas pipeline continued to achieve high growth levels
        and totalled 1,330 hotels (141,157 rooms) at 31 December 2007. During the year, 75,279 room
        signings were completed, compared with 61,673 room signings in 2006. These signing levels
        outpaced the prior year as demand for Holiday Inn and Holiday Inn Express continued to
        accelerate. Furthermore, the extended stay brands, Staybridge Suites and Candlewood Suites,
        contributed 24.3% of the region&rsquo;s room signings.</font></p>
        <!-- PAGE BREAK  --><!-- EEDocs PBStart-->
        <hr align="center" width="100%" noshade size="2">

        <p style="PAGE-BREAK-AFTER: always"></p>
        <!-- EEDocs PBEnd-->

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        EUROPE, MIDDLE EAST AND AFRICA (EMEA)</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="619" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">12 months ended 31 December</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">2007</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">2006</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">%</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt">EMEA Results</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">&pound;m</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">&pound;m</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">change</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt">Revenue:</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Owned and leased</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">121</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">92</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">31.5</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Managed</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">84</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">71</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">18.3</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Franchised</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">40</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">35</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">14.3</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Continuing operations</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">245</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">198</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">23.7</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Discontinued operations*</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">9</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">133</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">(93.2)</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="165" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Total</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="165">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">&pound;m</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">254</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">331</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">(23.3)</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="165" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Dollar equivalent</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="165">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">$m</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">509</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">608</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">(16.3)</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt">Operating profit before exceptional
                    items:</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Owned and leased</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">17</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">(4)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">525.0</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Managed</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">43</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">37</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">16.2</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Franchised</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">29</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">24</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">20.8</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">89</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">57</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">56.1</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Regional overheads</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">(22)</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">(20)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">(10.0)</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Continuing operations</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">67</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">37</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">81.1</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Discontinued operations*</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">-</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">25</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">-</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="165" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Total</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="165">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">&pound;m</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">67</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">62</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">8.1</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="165" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Dollar equivalent</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="165">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">$m</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">135</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">114</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">18.4</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="middle" width="43">
                &nbsp;</td>

                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="middle" width="122">
                &nbsp;</td>

                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="middle" width="166">
                &nbsp;</td>

                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="middle" width="96">
                &nbsp;</td>

                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="middle" width="96">
                &nbsp;</td>

                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="middle" width="96">
                &nbsp;</td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="619" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">*</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="576">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Discontinued operations are all owned and
                    leased.</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="619" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="427" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt">EMEA comparable RevPAR movement on previous
                    year</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="192">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">12 months ended</font></b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">31 December</font></b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">2007</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="427" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="192">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="427" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Owned and leased:</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="192">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="384">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">InterContinental</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="192">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">14.0%</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="427" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">All ownership types:</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="192">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="384">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">UK</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="192">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">6.2%</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="384">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Continental Europe</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="192">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">7.6%</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="384">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Middle East</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="192">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">19.6%</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>
        <!-- PAGE BREAK  --><!-- EEDocs PBStart-->
        <hr align="center" width="100%" noshade size="2">

        <p style="PAGE-BREAK-AFTER: always"></p>
        <!-- EEDocs PBEnd-->

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="FONT-SIZE: 11pt">EMEA Results</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">Revenue and operating profit from continuing operations
        increased by 23.7% to &pound;245m and 81.1% to &pound;67m respectively. Including
        discontinued operations, revenue decreased by 23.3% whilst operating profit increased by
        8.1%, reflecting the impact of hotels sold and converted to management and franchise
        contracts over the past two years.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">During the year, the region achieved RevPAR growth of 8.6%
        driven by substantial gains across all brands and ownership types. From a regional
        perspective, RevPAR levels benefited from the positive market conditions in the Middle
        East, France and the UK. The region&rsquo;s continuing operating profit margins increased
        by 8.6 percentage points to 27.3% as a result of improved revenue conversion in the owned
        and leased portfolio and increased scalability in the franchised operations.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">In the owned and leased estate, continuing revenue increased
        by 31.5% to &pound;121m as a result of trading at the InterContinental London Park Lane
        which became fully operational during the first half of 2007, together with strong rate-led
        RevPAR growth at the InterContinental Paris Le Grand. Effective revenue conversion led to
        an increase in continuing operating profit of &pound;21m to &pound;17m, including operating
        profit growth of &pound;14m at the InterContinental London Park Lane.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">EMEA managed revenues increased by 18.3% to &pound;84m and
        operating profit increased by 16.2% to &pound;43m. The growth was driven by management
        contracts negotiated in 2006 as part of the hotel disposal programme in Europe and strong
        underlying trading in markets such as the Middle East, the UK, Spain and Russia.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">Franchised revenue and operating profit increased by 14.3% to
        &pound;40m and 20.8% to &pound;29m respectively. The growth was principally driven by
        RevPAR gains and room count expansion in the UK and Continental Europe.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="619" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="247" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="183" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <b><font style="FONT-SIZE: 11pt">Hotels</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="189" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <b><font style="FONT-SIZE: 11pt">Rooms</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="247" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt">EMEA hotel and room count</font></b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt">at 31 December</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">2007</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">Change</font></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">over 2006</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">2007</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">Change</font></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">over 2006</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="247" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Analysed by brand:</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">InterContinental</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">62</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">(4)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">20,012</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">(1,411)</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Crowne Plaza</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">72</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">4</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">17,326</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">886</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Holiday Inn</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">335</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">18</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">52,842</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">2,214</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Holiday Inn Express</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">182</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">10</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">19,380</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">1,271</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">______</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="247" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Total</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">651</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">28</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">109,560</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">2,960</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">______</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="247" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Analysed by ownership type:</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Owned and leased</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">5</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">(5)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">1,674</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">(1,414)</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Managed</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">171</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">(3)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">39,073</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">(1,602)</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Franchised</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">475</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">36</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">68,813</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">5,976</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">______</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="247" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Total</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">651</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">28</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">109,560</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">2,960</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">______</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="FONT-SIZE: 11pt">EMEA Hotel and Room Count</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">During 2007, EMEA hotel and room count increased by 28 hotels
        (2,960 rooms) to 651 hotels (109,560 rooms). The net growth included the opening of 55
        hotels (7,956 rooms) and the removal of 27 hotels (4,996 rooms). System growth was led by
        openings in the UK of 22 hotels (2,522 rooms). Holiday Inn was the largest contributor of
        room openings, adding over 50% of the region&rsquo;s total.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>
        <!-- PAGE BREAK  --><!-- EEDocs PBStart-->
        <hr align="center" width="100%" noshade size="2">

        <p style="PAGE-BREAK-AFTER: always"></p>
        <!-- EEDocs PBEnd-->

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="619" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="247" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="183" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <b><font style="FONT-SIZE: 11pt">Hotels</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="189" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <b><font style="FONT-SIZE: 11pt">Rooms</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="247" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt">EMEA pipeline</font></b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt">at 31 December</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">2007</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">Change</font></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">over 2006</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">2007</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">Change</font></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">over 2006</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="247" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Analysed by brand:</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">InterContinental</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">24</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">14</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">5,960</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">3,411</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Crowne Plaza</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">25</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">10</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">6,298</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">2,631</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Holiday Inn</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">51</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">(3)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">9,546</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">1,728</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Holiday Inn Express</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">76</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">17</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">9,766</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">2,321</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Staybridge Suites</font></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Other</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">10</font></b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">1</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">5</font></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">1</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">1,229</font></b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">90</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">651</font></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">90</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">______</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="247" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Total</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">187</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">44</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">32,889</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">10,832</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">______</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="247" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Analysed by ownership type:</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Managed</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">70</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">31</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">15,203</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">7,514</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Franchised</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">117</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">13</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">17,686</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">3,318</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">______</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="247" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Total</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">187</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">44</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">32,889</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">10,832</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">______</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="FONT-SIZE: 11pt">EMEA Pipeline</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">The pipeline in EMEA increased by 44 hotels (10,832 rooms) to
        187 hotels (32,889 rooms). The growth includes a record level of 19,153 room signings,
        driven by exceptional demand in the Middle East, particularly the United Arab Emirates and
        Saudi Arabia. Across the region sustained demand for the Holiday Inn brand led to 6,004
        room signings during the year whilst the region also experienced a significant increase in
        room signings for the InterContinental and Crowne Plaza brands. The EMEA pipeline includes
        10 Staybridge Suites hotels (1,229 rooms), of which the first hotels are expected to open
        in the UK and the Middle East during 2008.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>
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        <p style="PAGE-BREAK-AFTER: always"></p>
        <!-- EEDocs PBEnd-->

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="FONT-SIZE: 11pt">ASIA PACIFIC</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="534" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="281" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="252" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">12 months ended 31 December</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="281" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">2007</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">2006</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="86">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">%</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="281" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt">Asia Pacific Results</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">$m</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">$m</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="86">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">change</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="281" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="86">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="281" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt">Revenue:</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="86">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="38">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="242" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Owned and leased</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">145</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">131</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="86">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">10.7</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="38">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="242" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Managed</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">99</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">65</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="86">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">52.3</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="38">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="242" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Franchised</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">16</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">8</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="86">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">100.0</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="281" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="86">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="143" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Total</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="138">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">$m</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">260</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">204</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="86">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">27.5</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="281" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="86">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="143" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Sterling equivalent</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="138">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">&pound;m</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">130</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">111</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="86">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">17.1</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="281" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="86">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="281" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt">Operating profit before exceptional
                    items:</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="86">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="38">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="242" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Owned and leased</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">36</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">31</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="86">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">16.1</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="38">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="242" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Managed</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">46</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">39</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="86">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">17.9</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="38">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="242" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Franchised</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">6</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">5</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="86">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">20.0</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="38">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="242" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="86">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="281" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">88</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">75</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="86">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">17.3</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="281" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Regional overheads</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">(25)</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">(23)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="86">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">(8.7)</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="281" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="86">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="143" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Total</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="138">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">$m</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">63</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">52</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="86">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">21.2</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="281" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="86">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="143" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Sterling equivalent</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="138">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">&pound;m</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">31</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">29</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="86">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">6.9</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="281" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="86">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="middle" width="39">
                &nbsp;</td>

                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="middle" width="105">
                &nbsp;</td>

                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="middle" width="138">
                &nbsp;</td>

                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="middle" width="83">
                &nbsp;</td>

                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="middle" width="83">
                &nbsp;</td>

                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="middle" width="86">
                &nbsp;</td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="534" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="365" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt">Asia Pacific comparable RevPAR movement on
                    previous year</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="168">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">12 months ended</font></b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">31 December</font></b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">2007</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="365" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="168">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="365" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Owned and leased:</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="168">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="37">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="327">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">InterContinental</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="168">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">7.3%</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="365" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">All ownership types:</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="168">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="37">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="327">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Greater China</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="168">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">7.0%</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>
        <!-- PAGE BREAK  --><!-- EEDocs PBStart-->
        <hr align="center" width="100%" noshade size="2">

        <p style="PAGE-BREAK-AFTER: always"></p>
        <!-- EEDocs PBEnd-->

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="FONT-SIZE: 11pt">Asia Pacific Results</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">Asia Pacific revenue increased by 27.5% to $260m whilst
        operating profit increased by 21.2% to $63m.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">The region achieved strong RevPAR growth across all brands
        and ownership types and continued its strategic expansion in China and Japan. Strong growth
        in total profit was achieved; however, revenue conversion was impacted by continued
        investment to support expansion, resulting in a 1.3 percentage point reduction in operating
        profit margins to 24.2%.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">In the owned and leased estate, revenue increased by 10.7% to
        $145m due to the combined impact of strong room and food and beverage trading at the
        InterContinental Hong Kong, despite the impact of renovation works throughout a significant
        part of the year. The hotel&rsquo;s revenue growth combined with profit margin gains drove
        the estate&rsquo;s operating profit growth of 16.1% to $36m.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">Managed revenues increased by 52.3% to $99m as a result of
        the full year contribution from the hotels which joined the system in 2006 as part of the
        IHG ANA joint venture in Japan, continued organic expansion in China and solid RevPAR
        growth across Southern Asia and Australia. Operating profit increased by 17.9% to $46m as
        revenue gains were offset by integration and ongoing costs associated with the ANA joint
        venture and continued infrastructure investment in China.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">Franchised revenues doubled from $8m to $16m, primarily
        driven by hotels in the IHG ANA joint venture. Similar to the managed operations, growth in
        profitability was impacted by ANA integration and ongoing costs.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">Regional overheads increased by $2m to $25m primarily as a
        result of investment in technology and corporate infrastructure in China and Japan and
        included the favourable impact of a legal settlement.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="619" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="247" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="183" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <b><font style="FONT-SIZE: 11pt">Hotels</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="189" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <b><font style="FONT-SIZE: 11pt">Rooms</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="247" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt">Asia Pacific hotel and room
                    count</font></b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt">at 31 December</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">2007</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">Change</font></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">over 2006</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">2007</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">Change</font></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">over 2006</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="247" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Analysed by brand:</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">InterContinental</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">37</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">4</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">14,126</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">2,475</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Crowne Plaza</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">55</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">3</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">17,951</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">1,363</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Holiday Inn</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">94</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">3</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">25,858</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">2,083</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Holiday Inn Express</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">11</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">3</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">2,600</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">845</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Other</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">21</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">17</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">6,140</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">5,172</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">______</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="247" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Total</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">218</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">30</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">66,675</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">11,938</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">______</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="247" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Analysed by ownership type:</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Owned and leased</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">2</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">-</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">693</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">-</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Managed</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">175</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">26</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">56,114</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">10,832</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Franchised</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">41</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">4</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">9,868</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">1,106</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">______</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="247" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Total</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">218</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">30</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">66,675</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">11,938</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">______</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="FONT-SIZE: 11pt">Asia Hotel and Room Count</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">Asia Pacific hotel and room count increased by 30 hotels
        (11,938 rooms) to 218 hotels (66,675 rooms). The net growth included 16 hotels (7,827
        rooms) in Greater China reflecting continued expansion in one of IHG&rsquo;s strategic
        markets, together with 15 hotels (3,542 rooms) in Japan that joined the system as part of
        the IHG ANA joint venture.</font></p>
        <!-- PAGE BREAK  --><!-- EEDocs PBStart-->
        <hr align="center" width="100%" noshade size="2">

        <p style="PAGE-BREAK-AFTER: always"></p>
        <!-- EEDocs PBEnd-->

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="619" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="247" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="183" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <b><font style="FONT-SIZE: 11pt">Hotels</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="189" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="center">
                    <b><font style="FONT-SIZE: 11pt">Rooms</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="247" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt">Asia Pacific pipeline</font></b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt">at 31 December</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">2007</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">Change</font></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">over 2006</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">2007</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">Change</font></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">over 2006</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="247" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Analysed by brand:</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">InterContinental</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">30</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">10</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">10,331</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">2,604</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Crowne Plaza</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">56</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">35</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">21,028</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">13,421</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Holiday Inn</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">49</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">16</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">14,370</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">3,980</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Holiday Inn Express</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">22</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">10</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">6,097</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">1,572</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">______</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="247" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Total</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">157</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">71</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">51,826</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">21,577</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">______</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="247" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Analysed by ownership type:</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Managed</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">156</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">70</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">51,650</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">21,401</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Franchised</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">1</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">1</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">176</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">176</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">______</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="247" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Total</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">157</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">71</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">51,826</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">21,577</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="216">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="87">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="95">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">______</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="93">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="FONT-SIZE: 11pt">Asia Pacific Pipeline</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">The pipeline in Asia Pacific increased by 71 hotels (21,577
        rooms) to 157 hotels (51,826 rooms). Demand in the Greater China market continued
        throughout the year and represented 82.3% of the region&rsquo;s room signings. From a brand
        perspective, Crowne Plaza attracted significant interest, contributing over half of the
        total room signings.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="FONT-SIZE: 11pt">Central</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="619" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="288" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">12 months ended 31 December</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">2007</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">2006</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">%</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt">Central Results</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">&pound;m</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">&pound;m</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">change</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Revenue</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">58</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">55</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">5.5</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Gross central costs</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">(139)</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">(136)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">(2.2)</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="165">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Net central costs</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="165">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">&pound;m</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">(81)</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">(81)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">-</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="165">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Dollar equivalent</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="165">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">$m</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">(163)</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">(149)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">(9.4)</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="331" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">_____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="FONT-SIZE: 11pt">Central Results</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">During 2007, net central costs were flat on 2006 but
        increased in line with inflation when translated at constant currency exchange
        rates.</font></p>
        <!-- PAGE BREAK  --><!-- EEDocs PBStart-->
        <hr align="center" width="100%" noshade size="2">

        <p style="PAGE-BREAK-AFTER: always"></p>
        <!-- EEDocs PBEnd-->

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="FONT-SIZE: 11pt; TEXT-TRANSFORM: uppercase">OTHER FINANCIAL
        INFORMATION</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="FONT-SIZE: 11pt">Exceptional operating items</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">Exceptional operating items of &pound;30m include an
        &pound;18m gain on the sale of financial assets and an &pound;11m gain on the sale of
        associate investments.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">Exceptional operating items are treated as exceptional items
        by reason of their size or nature and are excluded from the calculation of adjusted
        earnings per share in order to provide a more meaningful comparison of
        performance.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="FONT-SIZE: 11pt">Net financial expenses</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">Net financial expenses increased from &pound;11m in 2006 to
        &pound;45m in 2007, as a result of higher debt levels following payment of the &pound;709m
        special dividend in June 2007.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">Financing costs included &pound;10m (2006 &pound;10m) of
        interest costs associated with Priority Club Rewards where interest is charged on the
        accumulated balance of cash received in advance of the redemption points awarded. Financing
        costs in 2007 also included &pound;9m (2006 &pound;4m) in respect of the InterContinental
        Boston finance lease.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="FONT-SIZE: 11pt">Taxation</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">The effective rate of tax on profit before tax, excluding the
        impact of exceptional items, was 22% (2006 24%). By also excluding the impact of prior year
        items, which are included wholly within continuing operations, the equivalent tax rate
        would be 36% (2006 36%). This rate is higher than the UK statutory rate of 30% due mainly
        to certain overseas profits (particularly in the US) being subject to statutory rates
        higher than the UK statutory rate and disallowable expenses.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">Taxation within exceptional items totalled a credit of
        &pound;30m (2006 &pound;94m credit) in respect of continuing operations. This represented,
        primarily, the release of exceptional provisions relating to tax matters which were settled
        during the year, or in respect of which the statutory limitation period had expired. In
        2006, taxation exceptional items, in addition to such provision releases, included
        &pound;12m for the recognition of a deferred tax asset in respect of tax losses.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">Net tax paid in 2007 totalled &pound;69m (2006 &pound;49m)
        including &pound;32m (2006 &pound;6m) in respect of disposals.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="FONT-SIZE: 11pt">Earnings per share</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">Basic earnings per share in 2007 were 72.2p, compared with
        104.1p in 2006. Adjusted earnings per share were 48.4p, against 42.9p in 2006. Adjusted
        continuing earnings per share were 46.9p, 23.4% up on last year.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="FONT-SIZE: 11pt">Dividends</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">The Board has proposed a final dividend per share of 14.9p;
        with the interim dividend per share of 5.7p, the normal dividend per share for 2007 will
        total 20.6p.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="FONT-SIZE: 11pt">Share price and market capitalisation</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">The IHG share price closed at 884.0p on 31 December 2007,
        down from 1262.0p on 31 December 2006. The market capitalisation of the Group at the year
        end was &pound;2.6bn.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="FONT-SIZE: 11pt">Cash flow</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">The net movement in cash and cash equivalents in the 12
        months to 31 December 2007 was an outflow of &pound;131m. This included net cash inflows
        from operating activities of &pound;232m, net cash outflows from investing activities of
        &pound;19m and net cash outflows from financing activities of &pound;344m.</font></p>
        <!-- PAGE BREAK  --><!-- EEDocs PBStart-->
        <hr align="center" width="100%" noshade size="2">

        <p style="PAGE-BREAK-AFTER: always"></p>
        <!-- EEDocs PBEnd-->

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">Key components of investing and financing activities
        included:</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="619" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'SYMBOL'">&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font>
                    <font style="FONT-SIZE: 11pt">&nbsp;</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="576">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">proceeds from the disposal of hotels and equity
                    investments totalled &pound;106m;</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'SYMBOL'">&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font>
                    <font style="FONT-SIZE: 11pt">&nbsp;</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="576">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">capital expenditure totalled &pound;93m and
                    included the completion of the major refurbishment at the InterContinental
                    London Park Lane and the renovation works at the InterContinental Hong
                    Kong;</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'SYMBOL'">&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font>
                    <font style="FONT-SIZE: 11pt">&nbsp;</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="576">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">cash outflows associated with shareholder returns
                    during the year included a special dividend of &pound;709m and share buybacks
                    of &pound;81m; and</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'SYMBOL'">&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font>
                    <font style="FONT-SIZE: 11pt">&nbsp;</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="576">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">increased borrowings of &pound;553m.</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">IHG's cash flow strategy has focused on reducing capital
        intensity and returning surplus funds to shareholders. Capital investment in new projects
        will be made where this creates value by accelerating the development of IHG's brands. Such
        investment will be funded largely from the proceeds of hotel and minority shareholding
        disposals, with the objective of subsequently recycling that capital into other
        projects.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="FONT-SIZE: 11pt">Capital structure and liquidity management</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">Net debt at 31 December 2007 was &pound;825m and included
        &pound;100m in respect of the finance lease commitment for the InterContinental
        Boston.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="343" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="124">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">2007</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">2006</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="343" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt">Net debt at 31 December</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="124">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">&pound;m</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">&pound;m</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="343" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="124">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="343" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Borrowings (including derivatives):</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="124">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="300">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Sterling</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="124">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">275</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">102</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="300">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">US Dollar</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="124">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">439</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">282</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="300">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Euro</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="124">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">121</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">101</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="300">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Other</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="124">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">48</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">48</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="343" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Cash (including derivatives)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="124">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">(58)</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">(403)</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="343" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="124">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="343" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="124">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">825</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">130</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="343" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Excluding fair value of derivatives
                    (net)</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="124">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">-</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">4</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="343" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="124">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="343" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Net debt</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="124">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">825</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">134</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="343" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="124">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="343" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="124">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="343" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Average debt levels</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="124">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">536</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">92</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="343" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="124">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="343" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="124">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">2007</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">2006</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="343" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt">Facilities at 31 December</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="124">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">&pound;m</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">&pound;m</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="343" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="124">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="343" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Committed</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="124">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">1,154</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">1,157</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="343" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Uncommitted</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="124">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">25</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">39</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="343" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="124">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="343" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Total</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="124">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">1,179</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">1,196</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="343" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="124">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">____</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="343" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b><font style="FONT-SIZE: 11pt">Interest risk profile of net debt for major
                    currencies (including derivatives) at 31 December</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="124">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">2007</font></b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">%</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">2006</font></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">%</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="343" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="124">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="343" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">At fixed rates</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="124">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">45</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">57</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="343" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">At variable rates</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="124">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">55</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">43</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">Treasury policy is to manage financial risks that arise in
        relation to underlying business needs. The activities of the treasury function are carried
        out in accordance with Board approved policies and are subject to regular audit. The
        treasury function does not operate as a profit centre.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">Medium and long-term borrowing requirements at 31 December
        2007 were met through a &pound;1.1bn Syndicated Bank Facility which matures in November
        2009. Short-term borrowing requirements were principally met from drawings under committed
        and uncommitted bilateral loan facilities. At the year end, the Group had &pound;377m of
        committed facilities available for drawing.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">The Syndicated Bank Facility contains two financial
        covenants, interest cover and net debt/Earnings before Interest, Tax, Depreciation and
        Amortisation (EBITDA). The Group is in compliance with both covenants, neither of which is
        expected to represent a material restriction on funding or investment policy in the
        foreseeable future.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="FONT-SIZE: 11pt">Asset disposal programme</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="271">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="128">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">Number of hotels</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">Proceeds</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="120">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">Net book value</font></b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="271">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="128">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="120">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="271">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Disposed since April 2003</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="128">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">181</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">&pound;3.0bn</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="120">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">&pound;2.9bn</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="271">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Remaining owned and leased hotels</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="128">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">18</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="120">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">&pound;0.9bn</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">During 2007, IHG achieved further progress with its asset
        disposal programme, including:</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="619" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'SYMBOL'">&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font>
                    <font style="FONT-SIZE: 11pt">&nbsp;</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="576">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">the sale of the Crowne Plaza Santiago for $21m
                    before transaction costs, approximately $9m above net book value. Under the
                    agreement, IHG retained a 10 year franchise contract;</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'SYMBOL'">&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font>
                    <font style="FONT-SIZE: 11pt">&nbsp;</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="576">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">the sale of its 74.11% share of the
                    InterContinental Montreal for &pound;17m before transaction costs,
                    approximately &pound;5m above book value. Under the agreement, IHG retained a
                    30 year management contract on the hotel; and</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">
                    <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'SYMBOL'">&middot;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font>
                    <font style="FONT-SIZE: 11pt">&nbsp;</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="576">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">the sale of the Holiday Inn Disney, Paris for
                    &pound;14m before transaction costs, approximately &pound;2m above net book
                    value. Under the agreement, IHG retained a five year franchise
                    contract.</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">These transactions support IHG&rsquo;s continued strategy of
        growing its managed and franchised business whilst reducing asset ownership. Since April
        2003, 181 hotels with a net book value of &pound;2.9bn have been sold, generating aggregate
        proceeds of &pound;3.0bn, of which 162 of these hotels remained in the IHG system through
        the successful negotiation of either management or franchise agreements.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">During 2007, IHG also divested a number of equity interests
        of which proceeds totalled &pound;57m, and included a 33.3% interest in the Crowne Plaza
        London The City for &pound;19m and a 15% interest in the InterContinental Chicago for
        &pound;11m.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="FONT-SIZE: 11pt">Return of funds programme</font></b></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="608" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="211">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="167">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">Timing</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">Total</font></b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">return</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">Returned to date</font></b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="73">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">Still to be</font></b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b><font style="FONT-SIZE: 11pt">returned</font></b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="211">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">&pound;501m special dividend</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="167">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">Paid in December 2004</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">&pound;501m</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">&pound;501m</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="73">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">Nil</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="211">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">First &pound;250m share buyback</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="167">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">Completed in 2004</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">&pound;250m</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">&pound;250m</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="73">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">Nil</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="211">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">&pound;996m capital return</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="167">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">Paid in July 2005</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">&pound;996m</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">&pound;996m</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="73">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">Nil</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="211">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Second &pound;250m share buyback</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="167">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">Completed in 2006</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">&pound;250m</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">&pound;250m</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="73">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">Nil</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="211">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">&pound;497m special dividend</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="167">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">Paid in June 2006</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">&pound;497m</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">&pound;497m</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="73">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">Nil</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="211">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Third &pound;250m share buyback</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="167">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">Completed in 2007</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">&pound;250m</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">&pound;250m</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="73">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">Nil</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="211">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">&pound;709m special dividend</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="167">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">Paid in June 2007</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">&pound;709m</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">&pound;709m</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="73">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">Nil</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="211">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">&pound;150m share buyback</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="167">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">Under way</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">&pound;150m</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">&pound;50m</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="73">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">&pound;100m</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="211">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="167">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">______</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="73">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="211">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <font style="FONT-SIZE: 11pt">Total</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="167">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">&pound;3,603m</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">&pound;3,503m</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="73">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">&pound;100m</font></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="211">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="167">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">______</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="83">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">_____</font></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="73">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <font style="FONT-SIZE: 11pt">____</font></p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <font style="FONT-SIZE: 11pt">In the year, IHG paid a &pound;709m special dividend,
        completed a third &pound;250m share buyback and commenced a &pound;150m share buyback. At
        the year end &pound;100m of this buyback was outstanding. Since March 2004, IHG has
        returned &pound;3.5bn to shareholders.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>
        <!-- PAGE BREAK  --><!-- EEDocs PBStart-->
        <hr align="center" width="100%" noshade size="2">

        <p style="PAGE-BREAK-AFTER: always"></p>
        <!-- EEDocs PBEnd-->

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="TEXT-TRANSFORM: uppercase">InterContinental Hotels Group PLC</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="TEXT-TRANSFORM: uppercase">GROUP INCOME STATEMENT</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b>For the year ended 31 December 2007</b><br>
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="187" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="234" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>Year ended 31 December 2007</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="240" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>Year ended 31 December 2006</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="187" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>Before</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>exceptional</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>items</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>Exceptional</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>items</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>(note 5)</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>Total</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>Before</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>exceptional</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>items</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>Exceptional</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>items</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>(note 5)</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>Total</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="187" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>&pound;m</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>&pound;m</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>&pound;m</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>&pound;m</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>&pound;m</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>&pound;m</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="187" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Continuing operations</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="187" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="187" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Revenue (note 3)</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>883</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>-</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>883</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>786</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>-</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>786</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="187" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Cost of sales</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (411)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    -</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (411)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (355)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    -</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (355)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="187" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Administrative expenses</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (188)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (7)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (195)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (180)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    -</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (180)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="187" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Other operating income and expenses</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <br>
                    8</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <br>
                    38</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <br>
                    46</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <br>
                    4</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <br>
                    27</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <br>
                    31</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="187" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    _____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="187" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    292</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    31</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    323</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    255</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    27</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    282</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="187" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Depreciation and amortisation</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (55)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (1)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (56)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (55)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    -</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (55)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="187" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    _____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="187" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Operating profit (note 4)</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>237</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>30</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>267</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>200</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>27</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>227</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="187" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="187" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Financial income</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    9</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    -</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    9</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    26</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    -</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    26</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="187" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Financial expenses</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (54)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    -</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (54)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (37)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    -</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (37)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="187" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    _____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="187" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="187" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Profit before tax</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>192</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>30</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>222</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>189</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>27</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>216</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="187" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="187" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Tax (note 6)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (42)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    30</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (12)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (41)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    94</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    53</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="187" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    _____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="187" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Profit for the year from continuing operations</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>150</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>60</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>210</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>148</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>121</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>269</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="187" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="187" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Profit for the year from discontinued operations<br>
                    (note 7)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <br>
                    &nbsp;<br>
                    5</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <br>
                    &nbsp;<br>
                    16</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <br>
                    &nbsp;<br>
                    21</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <br>
                    &nbsp;<br>
                    19</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <br>
                    &nbsp;<br>
                    117</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <br>
                    &nbsp;<br>
                    136</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="187" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    _____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="187" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Profit for the year attributable to the equity holders of the parent</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>155</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>76</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>231</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>167</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>238</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>405</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="187" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="187" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Earnings per ordinary share (note 8):</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="187" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Continuing operations:</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="156">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Basic</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    65.6p</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    69.1p</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="156">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Diluted</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    63.8p</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    67.4p</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="156">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Adjusted</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    46.9p</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    38.0p</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="156">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Adjusted diluted</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    45.6p</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    37.1p</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="187" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Total operations:</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="156">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Basic</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    72.2p</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    104.1p</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="156">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Diluted</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    70.2p</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    101.5p</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="156">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Adjusted</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    48.4p</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    42.9p</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="156">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Adjusted diluted</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    47.1p</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    41.8p</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="187" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Dividends per ordinary share (note 9):</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="156">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Final paid</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    13.3p</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    10.7p</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="156">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Special interim paid</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    200.0p</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    118.0p</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="156">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Interim paid</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    5.7p</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    5.1p</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="156">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Final proposed</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="82">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    14.9p</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    13.3p</p>
                </td>
            </tr>
        </table>
        <!-- PAGE BREAK  --><!-- EEDocs PBStart--><br>
        <br>

        <hr align="center" width="100%" noshade size="2">

        <p style="PAGE-BREAK-AFTER: always"></p>
        <!-- EEDocs PBEnd-->

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="TEXT-TRANSFORM: uppercase">InterContinental Hotels Group PLC</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="TEXT-TRANSFORM: uppercase">GROUP STATEMENT of recognised income and
        expense</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b>For the year ended 31 December 2007</b><br>
        &nbsp;<br>
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2007</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>&pound;m</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2006</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>&pound;m</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Income and expense recognised directly in equity</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Gains on valuation of available-for-sale assets</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    4</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    16</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    (Losses)/gains on cash flow hedges</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (1)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    1</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Exchange differences on retranslation of foreign operations</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    10</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (30)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Actuarial gains/(losses) on defined benefit pension plans</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    12</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (2)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>25</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>(15)</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Transfers to the income statement</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    On cash flow hedges: interest payable</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (1)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (1)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    On disposal of foreign operations: gain on disposal of assets</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    -</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    4</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    On disposal of available-for-sale assets: other operating income and
                    expenses</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <br>
                    (10)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <br>
                    (14)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>(11)</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>(11)</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Tax</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Tax on items above taken directly to or transferred from equity</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (3)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    4</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Tax related to share schemes recognised directly in equity</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (2)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    26</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>(5)</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>30</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Net income recognised directly in equity</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>9</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>4</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Profit for the year</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>231</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>405</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Total recognised income and expense for the year attributable to the equity
                    holders of the parent</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>240</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>409</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <br>
        &nbsp;</p>
        <!-- PAGE BREAK  --><!-- EEDocs PBStart-->
        <hr align="center" width="100%" noshade size="2">

        <p style="PAGE-BREAK-AFTER: always"></p>
        <!-- EEDocs PBEnd-->

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="TEXT-TRANSFORM: uppercase">InterContinental Hotels Group PLC</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="TEXT-TRANSFORM: uppercase">GROUP CASH FLOW STATEMENT</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b>For the year ended 31 December 2007</b><br>
        &nbsp;<br>
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2007</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>&pound;m</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2006</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>&pound;m</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Profit for the year</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>231</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>405</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Adjustments for:</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="360">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Net financial expense</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    45</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    11</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="360">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Income tax charge/(credit)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    15</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (41)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="360">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Exceptional operating items before depreciation</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (31)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (27)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="360">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Gain on disposal of assets, net of tax</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (16)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (117)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="360">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Depreciation and amortisation</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    58</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    64</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="360">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Equity-settled share-based cost, net of payments</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    24</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    14</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="31">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="360">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Other non-cash items</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (2)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    -</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Operating cash flow before movements in working capital</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    324</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    309</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Increase in trade and other receivables</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (15)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (31)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Increase in trade and other payables</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    26</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    10</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Retirement benefit contributions, net of charge</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (33)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    -</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Cash flow from operations</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>302</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>288</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Interest paid</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (42)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (33)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Interest received</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    9</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    24</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Tax paid on operating activities</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (37)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (43)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Net cash from operating activities</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>232</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>236</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Cash flow from investing activities</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Purchases of property, plant and equipment</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (57)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (87)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Purchases of intangible assets</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (20)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (23)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Purchases of associates and other financial assets</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (16)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (8)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Acquisition of subsidiary, net of cash acquired</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    -</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (6)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Disposal of assets, net of costs and cash disposed of</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    49</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    620</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Proceeds from associates and other financial assets</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    57</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    124</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Tax paid on disposals</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (32)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (6)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Net cash from investing activities</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>(19)</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>614</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Cash flow from financing activities</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Proceeds from the issue of share capital</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    16</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    20</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Purchase of own shares</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (81)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (260)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Purchase of own shares by employee share trusts</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (69)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (47)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Proceeds on release of own shares by employee share trusts</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    10</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    19</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Dividends paid to shareholders</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (773)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (561)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Dividends paid to minority interests</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    -</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (1)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Increase/(decrease) in borrowings</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    553</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (172)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Net cash from financing activities</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>(344)</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>(1,002)</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Net movement in cash and cash equivalents in the year</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>(131)</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>(152)</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Cash and cash equivalents at beginning of the year</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    179</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    324</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Exchange rate effects</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    4</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    7</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Cash and cash equivalents at end of the year</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>52</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>179</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="141">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <br>
        &nbsp;</p>
        <!-- PAGE BREAK  --><!-- EEDocs PBStart-->
        <hr align="center" width="100%" noshade size="2">

        <p style="PAGE-BREAK-AFTER: always"></p>
        <!-- EEDocs PBEnd-->

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="TEXT-TRANSFORM: uppercase">InterContinental Hotels Group PLC</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="TEXT-TRANSFORM: uppercase">GROUP BALANCE SHEET</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b>As at 31 December 2007</b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2007</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>&pound;m</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2006</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>&pound;m</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>ASSETS</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Property, plant and equipment</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    962</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    997</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Goodwill</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    110</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    109</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Intangible assets</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    167</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    154</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Investment in associates</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    33</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    32</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Retirement benefit assets</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    32</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    -</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Other financial assets</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    93</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    96</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Total non-current assets</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>1,397</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>1,388</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Inventories</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    3</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    3</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Trade and other receivables</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    235</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    237</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Current tax receivable</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    54</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    23</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Cash and cash equivalents</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    52</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    179</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Other financial assets</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    9</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    13</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Total current assets</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>353</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>455</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Non-current assets classified as held for sale</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    57</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    50</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Total assets</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>1,807</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>1,893</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>LIABILITIES</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Loans and other borrowings</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (8)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (10)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Trade and other payables</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (390)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (402)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Current tax payable</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (212)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (231)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Total current liabilities</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>(610)</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>(643)</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Loans and other borrowings</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (869)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (303)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Retirement benefit obligations</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (55)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (71)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Trade and other payables</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (139)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (109)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Deferred tax payable</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (82)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (79)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Total non-current liabilities</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>(1,145)</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>(562)</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Liabilities classified as held for sale</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (3)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (2)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Total liabilities</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>(1,758)</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>(1,207)</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Net assets (note 12)</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>49</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>686</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>EQUITY</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Equity share capital</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    81</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    66</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Capital redemption reserve</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    5</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    4</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Shares held by employee share trusts</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (41)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (17)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Other reserves</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (1,528)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (1,528)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Unrealised gains and losses reserve</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    19</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    27</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Currency translation reserve</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    6</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (3)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Retained earnings</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    1,504</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    2,129</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>IHG shareholders&rsquo; equity (note 13)</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>46</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>678</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Minority equity interest</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    3</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    8</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Total equity</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>49</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>686</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="391">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="144">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="132">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <br>
        &nbsp;</p>
        <!-- PAGE BREAK  --><!-- EEDocs PBStart-->
        <hr align="center" width="100%" noshade size="2">

        <p style="PAGE-BREAK-AFTER: always"></p>
        <!-- EEDocs PBEnd-->

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="TEXT-TRANSFORM: uppercase">InterContinental Hotels Group plc</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <b><font style="TEXT-TRANSFORM: uppercase">Notes to the financial statements</font></b><br>
        &nbsp;<br>
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="679" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>1.</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="636">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Basis of preparation</b><br>
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="636">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    The audited consolidated financial statements of InterContinental Hotels Group
                    PLC (IHG) for the year ended 31 December 2007 have been prepared in accordance
                    with International Financial Reporting Standards (IFRS) as adopted by the
                    European Union and as applied in accordance with the provisions of the
                    Companies Act 1985.<br>
                    &nbsp;<br>
                    The Group has early adopted International Financial Reporting Interpretations
                    Committee 14 &lsquo;IAS 19 - The Limit on a Defined Benefit Asset, Minimum
                    Funding Requirements and their Interaction&rsquo; (IFRIC 14). Under IFRIC 14,
                    the Group has recognised retirement benefit assets of &pound;32m on the balance
                    sheet at 31 December 2007. The Group has also adopted International Financial
                    Reporting Standard 7 &lsquo;Financial instruments: Disclosures&rsquo; (IFRS 7)
                    for the first time during the year. As IFRS 7 is a disclosure standard only,
                    there is no impact from the adoption of this standard on the reported numbers
                    in these preliminary financial statements.<br>
                    &nbsp;<br>
                    Amounts that have previously been disclosed as special items have now been
                    called exceptional items in accordance with market practice. There has been no
                    change to the Group&rsquo;s accounting policy for identifying these items.<br>
                    &nbsp;<br>
                    In all other respects, these preliminary financial statements have been
                    prepared on a consistent basis using the accounting policies set out in the IHG
                    Annual Report and Financial Statements for the year ended 31 December 2006.</p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <br>
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="679" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>2.</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="636">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Exchange rates</b><br>
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="636">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    The results of foreign operations have been translated into sterling at the
                    weighted average rates of exchange for the period. In the case of the US
                    dollar, the translation rate is &pound;1 = $2.01 (2006 &pound;1=$1.84). In the
                    case of the Euro, the translation rate is &pound;1=&euro;1.46 (2006
                    &pound;1=&euro;1.47).<br>
                    &nbsp;<br>
                    Foreign currency denominated assets and liabilities have been translated into
                    sterling at the rates of exchange on the balance sheet date. In the case of the
                    US dollar, the translation rate is &pound;1=$2.01 (2006 &pound;1=$1.96). In the
                    case of the Euro, the translation rate is &pound;1=&euro;1.36 (2006
                    &pound;1=&euro;1.49).</p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <br>
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="679" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>3.</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="636">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Revenue</b><br>
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="420">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2007</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>&pound;m</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2006</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>&pound;m</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="420">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Continuing operations:</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="24">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="396">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Americas</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    450</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    422</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="24">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="396">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    EMEA</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    245</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    198</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="24">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="396">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Asia Pacific</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    130</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    111</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="24">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="396">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Central</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    58</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    55</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="420">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="420">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>883</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>786</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="420">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="420">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Discontinued operations (note 7)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    40</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    174</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="420">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="420">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>923</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>960</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="420">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <br>
        &nbsp;</p>
        <!-- PAGE BREAK  --><!-- EEDocs PBStart-->
        <hr align="center" width="100%" noshade size="2">

        <p style="PAGE-BREAK-AFTER: always"></p>
        <!-- EEDocs PBEnd-->

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="679" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>4.</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="636" colspan="4">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Operating profit</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="420" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2007</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>&pound;m</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2006</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>&pound;m</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="420" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Continuing operations:</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="24">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="396">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Americas</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    220</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    215</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="24">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="396">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    EMEA</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    67</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    37</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="24">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="396">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Asia Pacific</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    31</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    29</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="24">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="396">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Central</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (81)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (81)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="420" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="420" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    237</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    200</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="24">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="396">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Exceptional operating items (note 5)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    30</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    27</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="420" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="420" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>267</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>227</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="420" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Discontinued operations (note 7)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    8</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    31</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="420" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="420" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>275</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>258</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="420" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <br>
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="679" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>5.</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="636" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Exceptional items</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="420">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2007</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>&pound;m</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2006</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>&pound;m</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="420">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Exceptional operating items*</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="420">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Gain on sale of associate investments**</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    11</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    -</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="420">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Gain on sale of investment in FelCor Lodging Trust, Inc.**</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    -</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    25</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="420">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Gain on sale of other financial assets**</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    18</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    -</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="420">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Reversal of previously recorded impairment**</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    3</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    2</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="420">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Office reorganisations (a)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (2)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    -</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="420">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="420">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    30</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    27</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="420">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="420">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Tax*</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="420">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Tax charge on exceptional operating items</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    -</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (6)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="420">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Exceptional tax credit (b)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    30</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    100</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="420">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="420">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    30</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    94</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="420">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="420">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Gain on disposal of assets</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="420">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Gain on disposal of assets</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    20</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    123</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="420">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Tax charge</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (4)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (6)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="420">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="420">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    16</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    117</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="420">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="679" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    *</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="636">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Relates to continuing operations.<br>
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    **</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="636">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Included within other operating income and expenses.<br>
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="679" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    The above items are treated as exceptional by reason of their size or
                    nature.<br>
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    a.</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="636">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Profit on sale and leaseback of new head office less costs incurred to date on
                    the office move and closure of the Group&rsquo;s Aylesbury facility. Costs will
                    continue to be incurred during the first half of 2008. Costs of &pound;7m are
                    included in administrative expenses and &pound;1m in depreciation and
                    amortisation. Income of &pound;6m is included in other operating income and
                    expenses.<br>
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    b.</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="636">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    The exceptional tax credit relates to the release of provisions which are
                    exceptional by reason of their size or nature relating to tax matters which
                    have been settled or in respect of which the relevant statutory limitation
                    period has expired, together with, in 2006, a credit in respect of previously
                    unrecognised losses.</p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <br>
        &nbsp;</p>
        <!-- PAGE BREAK  --><!-- EEDocs PBStart-->
        <hr align="center" width="100%" noshade size="2">

        <p style="PAGE-BREAK-AFTER: always"></p>
        <!-- EEDocs PBEnd-->

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="678" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>6.</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="635">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Tax</b><br>
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="635">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    The effective tax rate on the combined profit from continuing and discontinued
                    operations, excluding the impact of exceptional items (note 5) is 22% (2006
                    24%).<br>
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="635">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    By also excluding the effect of prior year items, the equivalent effective tax
                    rate is 36% (2006 36%). Prior year items have been treated as relating wholly
                    to continuing operations.</p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <br>
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="678" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="204" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2007</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2007</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2007</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="75">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2006</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2006</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2006</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="204" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Year ended 31 December</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>Profit</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>&pound;m</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>Tax</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>&pound;m</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>Tax</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>rate</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="75">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>Profit</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>&pound;m</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>Tax</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>&pound;m</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>Tax</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>rate</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="204" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Before exceptional items</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="75">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="204" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Continuing operations</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    192</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (42)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="75">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    189</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (41)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="204" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Discontinued operations</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    8</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (3)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="75">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    31</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (12)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="204" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="75">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="204" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    200</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (45)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    22%</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="75">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    220</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (53)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    24%</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="204" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Exceptional items</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="75">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="204" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Continuing operations</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    30</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    30</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="75">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    27</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    94</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="204" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Discontinued operations</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    20</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (4)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="75">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    123</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (6)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="204" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="75">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="204" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    250</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (19)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="75">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    370</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    35</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="204" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="75">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="204" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Analysed as:</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="75">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="36">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="168">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    UK tax</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (3)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="75">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    14</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="36">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="168">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Foreign tax</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (16)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="75">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    21</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="204" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="75">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    _____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="204" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (19)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="75">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    35</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="204" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="68">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="75">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="72">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="71">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <br>
        &nbsp;</p>
        <!-- PAGE BREAK  --><!-- EEDocs PBStart-->
        <hr align="center" width="100%" noshade size="2">

        <p style="PAGE-BREAK-AFTER: always"></p>
        <!-- EEDocs PBEnd-->

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="679" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>7.</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="636" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Discontinued operations</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="636" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Discontinued operations are those relating to hotels sold or those classified
                    as held for sale as part of the asset disposal programme that commenced in
                    2003. These disposals underpin IHG&rsquo;s strategy of growing its managed and
                    franchised business whilst reducing asset ownership.<br>
                    &nbsp;<br>
                    The results of discontinued operations which have been included in the
                    consolidated income statement are as follows:</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2007</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>&pound;m</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2006</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>&pound;m</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Revenue</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>40</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>174</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Cost of sales</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (30)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (134)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    10</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    40</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Depreciation and amortisation</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (2)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (9)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Operating profit</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>8</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>31</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Tax</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (3)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (12)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Profit after tax</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>5</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>19</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Gain on disposal of assets, net of tax (note 5)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    16</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    117</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Profit for the year from discontinued operations</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>21</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>136</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <br>
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="679" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2007</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>pence per share</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2006</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>pence per</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>share</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Earnings per share from discontinued operations</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Basic</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    6.6</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    35.0</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Diluted</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    6.4</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    34.1</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <br>
        &nbsp;<br>
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="679" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2007</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>&pound;m</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2006</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>&pound;m</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Cash flows attributable to discontinued operations</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Operating profit before interest, depreciation and amortisation</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    10</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    40</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Investing activities</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (1)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (9)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Financing activities</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    -</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (25)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    9</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    6</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="679" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="636">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    The effect of discontinued operations on segmental results is shown in the
                    Business Review.</p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <br>
        &nbsp;</p>
        <!-- PAGE BREAK  --><!-- EEDocs PBStart-->
        <hr align="center" width="100%" noshade size="2">

        <p style="PAGE-BREAK-AFTER: always"></p>
        <!-- EEDocs PBEnd-->

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <br>
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="678" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>8.</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="635">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Earnings per ordinary share</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="635">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Basic earnings per ordinary share is calculated by dividing the profit for the
                    year available for IHG equity holders by the weighted average number of
                    ordinary shares, excluding investment in own shares, in issue during the
                    year.<br>
                    &nbsp;<br>
                    Diluted earnings per ordinary share is calculated by adjusting basic earnings
                    per ordinary share to reflect the notional exercise of the weighted average
                    number of dilutive ordinary share options outstanding during the year.<br>
                    &nbsp;<br>
                    On 1 June 2007, shareholders approved a share capital consolidation on the
                    basis of 47 new ordinary shares for every 56 existing ordinary shares, together
                    with a special dividend of 200 pence per existing ordinary share. The overall
                    effect of the transaction was that of a share repurchase at fair value,
                    therefore no adjustment has been made to comparative data.<br>
                    &nbsp;<br>
                    Adjusted earnings per ordinary share is disclosed in order to show performance
                    undistorted by exceptional items, to give a more meaningful comparison of the
                    Group&rsquo;s performance.</p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="679" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="276" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2007</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>Continuing</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>operations</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2007</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>Total</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2006</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>Continuing</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>operations</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2006</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>Total</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="276" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Basic earnings per share</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="276" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Profit available for equity holders (&pound;m)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    210</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    231</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    269</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    405</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="276" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Basic weighted average number of ordinary shares (millions)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <br>
                    320</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <br>
                    320</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <br>
                    389</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <br>
                    389</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="276" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Basic earnings per share (pence)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    65.6</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    72.2</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    69.1</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    104.1</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="276" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="276" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Diluted earnings per share</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="276" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Profit available for equity holders (&pound;m)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    210</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    231</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    269</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    405</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="276" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Diluted weighted average number of ordinary shares (millions)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <br>
                    329</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <br>
                    329</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <br>
                    399</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <br>
                    399</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="276" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Diluted earnings per share (pence)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    63.8</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    70.2</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    67.4</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    101.5</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="276" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="276" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Adjusted earnings per share</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="276" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Profit available for equity holders (&pound;m)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    210</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    231</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    269</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    405</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="276" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Less adjusting items (note 5):</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="24">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="252">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Exceptional operating items (&pound;m)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (30)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (30)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (27)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (27)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="24">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="252">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Tax on exceptional operating items (&pound;m)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    -</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    -</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    6</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    6</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="24">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="252">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Exceptional tax credit (&pound;m)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (30)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (30)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (100)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (100)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="24">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="252">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Gain on disposal of assets, net of tax (&pound;m)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    -</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (16)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    -</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (117)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="276" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="276" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Adjusted earnings (&pound;m)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    150</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    155</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    148</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    167</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="276" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Basic weighted average number of ordinary shares (millions)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <br>
                    320</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <br>
                    320</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <br>
                    389</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <br>
                    389</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="276" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Adjusted earnings per share (pence)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    46.9</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    48.4</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    38.0</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    42.9</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="276" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="276" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Diluted weighted average number of ordinary shares (million)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <br>
                    329</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <br>
                    329</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <br>
                    399</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <br>
                    399</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="276" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Adjusted diluted earnings per share (pence)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    45.6</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    47.1</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    37.1</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    41.8</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="276" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <br>
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="679" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    The diluted weighted average number of ordinary shares is calculated as:<br>
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2007</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>millions</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2006</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>millions</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Basic weighted average number of ordinary shares</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    320</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    389</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Dilutive potential ordinary shares &ndash; employee share options</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    9</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    10</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    329</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    399</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <br>
        &nbsp;</p>
        <!-- PAGE BREAK  --><!-- EEDocs PBStart-->
        <hr align="center" width="100%" noshade size="2">

        <p style="PAGE-BREAK-AFTER: always"></p>
        <!-- EEDocs PBEnd-->

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <br>
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="679" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>9.</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="635" colspan="6">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Dividends per ordinary share</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="264" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2007 pence per share</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2006 pence per share</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2007</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>&pound;m</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2006</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>&pound;m</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="264" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Paid during the year:</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="36">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="228">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Final (declared in previous year)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    13.3</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    10.7</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    47</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    46</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="36">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="228">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Interim</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    5.7</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    5.1</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    17</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    18</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="36">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="228">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Special interim</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    200.0</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    118.0</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    709</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    497</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="264" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ___</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="264" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    219.0</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    133.8</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    773</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    561</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="264" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ===</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ===</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="264" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Proposed for approval at the Annual General Meeting (not recognised as a
                    liability at 31 December):</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="36">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="228">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Final</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    14.9</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    13.3</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    44</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    47</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="264" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="84">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>
            </tr>

            <tr>
                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="middle" width="43">
                &nbsp;</td>

                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="middle" width="36">
                &nbsp;</td>

                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="middle" width="228">
                &nbsp;</td>

                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="middle" width="84">
                &nbsp;</td>

                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="middle" width="84">
                &nbsp;</td>

                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="middle" width="96">
                &nbsp;</td>

                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="middle" width="108">
                &nbsp;</td>

                <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.07in; BORDER-TOP: medium none; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="middle" width="9">
                &nbsp;</td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="679" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="636">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    The proposed final dividend is payable on the shares in issue at 28 March
                    2008.</p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <br>
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="679" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>10.</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="636">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Net debt</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2007</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>&pound;m</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2006</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>&pound;m</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Cash and cash equivalents</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    52</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    179</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Loans and other borrowings &ndash; current</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (8)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (10)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Loans and other borrowings &ndash; non-current</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (869)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (303)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Net debt</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>(825)</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>(134)</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Finance lease liability included above</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (100)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (97)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <br>
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="679" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>11.</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="636" colspan="4">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Movement in net debt</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2007</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>&pound;m</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2006</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>&pound;m</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Net decrease in cash and cash equivalents</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (131)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (152)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Add back cash flows in respect of other components of net debt:</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="36">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="396">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    (Increase)/decrease in borrowings</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (553)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    172</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    (Increase)/decrease in net debt arising from cash flows</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (684)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    20</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Non-cash movements:</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="36">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="396">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Finance lease liability</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (9)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (103)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="36">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="396">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Exchange and other adjustments</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    2</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    37</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Increase in net debt</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (691)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (46)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Net debt at beginning of the year</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (134)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (88)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Net debt at end of the year</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>(825)</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>(134)</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432" colspan="2">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <br>
        &nbsp;</p>
        <!-- PAGE BREAK  --><!-- EEDocs PBStart-->
        <hr align="center" width="100%" noshade size="2">

        <p style="PAGE-BREAK-AFTER: always"></p>
        <!-- EEDocs PBEnd-->

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="679" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>12.</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="636" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Net assets</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2007</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>&pound;m</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2006</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>&pound;m</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Americas</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    388</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    390</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    EMEA</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    376</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    359</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Asia Pacific</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    267</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    285</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Central</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    83</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    73</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    1,114</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    1,107</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Net debt</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (825)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (134)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Unallocated assets and liabilities</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (240)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (287)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>49</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>686</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <br>
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="679" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>13.</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="636" colspan="3">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Statement of changes in IHG shareholders&rsquo; equity</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2007</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>&pound;m</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>2006</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>&pound;m</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    At beginning of the year</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    678</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    1,084</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Total recognised income and expense for the year</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    240</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    409</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Equity dividends paid (note 9)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (773)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (561)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Issue of ordinary shares</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    16</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    20</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Purchase of own shares</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (81)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (260)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Movement in shares in employee share trusts</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (64)</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    (32)</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    Equity settled share-based cost</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    30</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    18</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ____</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>At end of the year</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>46</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    <b>678</b></p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="432">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="108">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="right">
                    ====</p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <br>
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="679" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>14.</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="636">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Capital commitments and contingencies</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="636">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    At 31 December 2007, the amount contracted for but not provided for in the
                    financial statements for expenditure on property, plant and equipment was
                    &pound;10m (2006 &pound;24m).<br>
                    &nbsp;<br>
                    At 31 December 2007, the Group had contingent liabilities of &pound;5m (2006
                    &pound;11m), mainly comprising guarantees given in the ordinary course of
                    business.<br>
                    &nbsp;<br>
                    In limited cases, the Group may provide performance guarantees to third-party
                    owners to secure management contracts. The maximum exposure under such
                    guarantees is &pound;121m (2006 &pound;142m). It is the view of the Directors
                    that, other than to the extent that liabilities have been provided for in these
                    financial statements, such guarantees are not expected to result in financial
                    loss to the Group.<br>
                    &nbsp;<br>
                    The Group has given warranties in respect of the disposal of certain of its
                    former subsidiaries and hotels. It is the view of the Directors that, other
                    than to the extent that liabilities have been provided for in these financial
                    statements, such warranties are not expected to result in financial loss to the
                    Group.</p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <br>
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="679" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>15.</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="636">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Other commitments</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="636">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    In March and June 2007, the Company made the first two payments of &pound;10m
                    under the agreement to make special pension contributions of &pound;40m to the
                    UK pension plan. A further payment of &pound;10m was made on 31 January 2008
                    and the final &pound;10m is scheduled for payment in 2009.<br>
                    &nbsp;<br>
                    On 24 October 2007, the Group announced a worldwide relaunch of its Holiday Inn
                    brand family. In support of this relaunch, IHG will make a non recurring
                    revenue investment of up to &pound;30m which it is anticipated will be charged
                    to the income statement as an exceptional item during 2008.</p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <br>
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="679" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>16.</b></p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="636">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Group financial statements</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="636">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    The preliminary statement of results was approved by the Board on 18 February
                    2008. The preliminary statement does not represent the full Group financial
                    statements of InterContinental Hotels Group PLC and its subsidiaries which will
                    be delivered to the Registrar of Companies in due course. The financial
                    information for the year ended 31 December 2006 has been extracted from the IHG
                    Annual Report and Financial Statements for that year as filed with the
                    Registrar of Companies.<br>
                    &nbsp;</p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <br>
        &nbsp;<br>
        &nbsp;</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        </p>

        <table cellspacing="0" cellpadding="0" width="679" border="0">
            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="636">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    <b>Auditors&rsquo; review</b></p>

                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>
            </tr>

            <tr>
                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="43">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    &nbsp;</p>
                </td>

                <td style="PADDING-RIGHT: 0.07in; PADDING-LEFT: 0.07in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="636">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
                    The auditors, Ernst &amp; Young LLP, have given an unqualified report under
                    Section 235 of the Companies Act 1985, as amended, in respect of the full Group
                    financial statements for both years referred to above.</p>
                </td>
            </tr>
        </table>
        <br>
        <br>


        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px" align="left">
        <br>
        &nbsp;</p>

        <p></p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        END</p>

        <p style="MARGIN-TOP: 0pt; FONT-SIZE: 10pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0px; FONT-FAMILY: 'COURIER NEW'" align="left">
        &nbsp;</p>

        <p align="center"><font size="2">SIGNATURES</font></p>

        <p align="left"><font size="2">Pursuant to the requirements of the Securities Exchange Act
        of 1934, the registrant has duly caused this report to be signed on its behalf by the
        undersigned, thereunto duly authorized.</font></p>

        <table cellspacing="0" cellpadding="0" width="100%" border="0">
            <tr valign="bottom">
                <td align="left"><font face="serif" size="2">&nbsp;</font> </td>

                <td align="left" width="5%"><font face="serif" size="2">&nbsp;</font> </td>

                <td align="left" width="45%"><font face="serif" size="2"><b>InterContinental Hotels
                Group PLC</b></font></td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="serif" size="2">&nbsp;</font> </td>

                <td align="left"><font face="serif" size="2">&nbsp;</font> </td>

                <td align="left"><font face="serif" size="2">(Registrant)</font></td>
            </tr>

            <tr valign="bottom">
                <td>&nbsp;</td>

                <td>&nbsp;</td>

                <td>&nbsp;</td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="serif" size="2">&nbsp;</font> </td>

                <td align="left"><font face="serif" size="2">By:</font></td>

                <td align="left"><font face="serif" size="2"><u>/s/ C. Cox</u></font> </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="serif" size="2">&nbsp;</font> </td>

                <td align="left"><font face="serif" size="2">Name:</font></td>

                <td align="left"><font face="serif" size="2">C. COX</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="serif" size="2">&nbsp;</font> </td>

                <td align="left"><font face="serif" size="2">Title:</font></td>

                <td align="left"><font face="serif" size="2">COMPANY SECRETARIAL
                OFFICER</font></td>
            </tr>

            <tr valign="bottom">
                <td>&nbsp;</td>

                <td>&nbsp;</td>

                <td>&nbsp;</td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="serif" size="2">&nbsp;</font> </td>

                <td align="left"><font face="serif" size="2">Date:</font> </td>

                <td align="left"><font face="serif" size="2">19 February,&nbsp;2008</font></td>
            </tr>

            <tr valign="bottom">
                <td align="left">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="left">&nbsp;</td>
            </tr>
        </table>
    </body>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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