Orient-Express is one of the premier hospitality brands in the world. We own a unique and irreplaceable portfolio of iconic ultra-luxury properties - including the Hotel Cipriani, Copacabana Palace, the Venice Simplon-Orient-Express, Hotel Splendido and the '21' Club. Despite a difficult operating environment, we continue to perform well. The Board believes the Company is well positioned to deliver substantial value to our shareholders in 2013 and the coming years.You continue to state publicly that you are offering a significant premium, but your opportunistic proposal was made at a time when the price of Orient-Express shares has been significantly depressed. Orient-Express shares have been negatively impacted by various factors including economic turbulence, particularly in Europe, important properties in the midst of refurbishment projects, and the transition to a new CEO. In short, we strongly believe your proposal is significantly below the value of Orient-Express.
Orient-Express Names John M. Scott III President And Chief Executive Officer
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