BAA Lynton Developing 600 room Hotel at the New Heathrow Terminal 5; Insignia Hotels to Advise on Selection of Hotel Operator / June 2003

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BAA Lynton Developing 600 room Hotel at the
New Heathrow Terminal 5;
Insignia Hotels to Advise on Selection of Hotel Operator

London, UK � June 25, 2003 � BAA Lynton, the commercial property division of BAA plc, has appointed Insignia Hotels as its sole adviser on the selection of an operator for its new first-class hotel at Terminal 5, Heathrow Airport. The hotel � the only lodging property to be built as part of the development of Terminal 5 � represents the most high profile new hotel development within the United Kingdom in the last 10 years.
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Heathrow Terminal 5
. BAA Lynton received zoning consent for the scheme from the London Borough of Hillingdon in January 2003. The hotel, which will provide 600 rooms and full leisure and state-of-the-art business facilities, will be directly linked to the terminal building. It is anticipated that the property will open in 2008. Terminal 5 will be completed at the world�s busiest international airport in 2008 and will enable Heathrow to handle an additional 30 million passengers per year.

John O�Halloran, managing director of BAA Lynton, commented, �The Terminal 5 hotel represents one of the best hotel opportunities within Europe at the moment, and we anticipate it will generate strong interest from all the leading international brands. We are looking forward to working towards delivering another world class hotel within the next few years.�

Chris Rouse, director of Insignia Hotels, said, �We are delighted to have been selected by BAA Lynton to advise them on the selection of an operator for the new hotel at Terminal 5. We expect an enormous amount of interest from hotel operators around the world since this represents the only opportunity to operate a hotel at Terminal 5 and the most high profile hotel opportunity in the UK for a decade.�

About BAA Lynton
BAA Lynton is the commercial property division of BAA plc, the world�s leading airport company. BAA Lynton established an Airport Hotels Partnership in March 2000. It had an initial investment value of £200 million and included eight airport hotels. Investors in the fund include Scottish Widows, the Coal Schemes, and the Shell Pension Fund. BAA Lynton is manager to the fund.

About Insignia Hotels
Insignia Hotels, the European hotel real estate advisory arm of New York-based Insignia/ESG, Inc., is the world�s leading full-service real estate advisory group focused exclusively on the hospitality industry and the only such company based in the City of London. Insignia Hotels offers investment, capital advisory, consulting and asset management services with European offices in London, Paris,
Spain, Dublin and Scandinavia.

In December 2001, Insignia Hotels acted on behalf of BAA Lynton in the letting of the site of a new 500-room Radisson SAS Hotel at Stansted Airport and in November 2002 also acted for BAA Lynton in the letting of a new 250-room Express by Holiday Inn, also at Stansted. In January 2003, Insignia Hotels acted for BAA Lynton in the letting of a new 350-room hotel at Hatton Cross Heathrow, which will open as a Jurys Inn in 2004.

Contact:

John O�Halloran
BAA Lynton
Tel: + 020 7907 9200

Dido Laurimore/Stephanie Highett
Financial Dynamics (on behalf of BAA Lynton)
Tel: + 020 7831 3113

Jane Warren
Insignia Hotels
Tel: + 020 7491 0404

Also See

British Airways Sells New York City Hotel to an Affiliate of Hotel Properties Limited, Singapore for $31 million / June 2002

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