Report of the directors

The directors have pleasure in submitting their annual report together with the audited financial
statements for the year ended 31 December 2009.

Principal place of business

Millennium & Copthorne Middle East Holdings Limited (“the Company”) is a company incorporated and
domiciled in Hong Kong and has its registered office at Room 2803, 28th Floor, Great Eagle Centre, 23
Harbour Road, Wanchai, Hong Kong and principal place of business at Bin Hamoodah Building, 10th
Floor, P. O. Box 28105, Khalifa Street, Abu Dhabi, UAE.

Principle activity
The principal activity of the Company is management of hotels and service apartments in the Middle East
and North Africa.

Results
The income statement of the Company for the period ended 31 December 2009 and the state of the
Company’s affairs as at that date are set out in the financial statements on pages 3 to 20.

An interim dividend of AED 0.63 per share (2008: AED nil per share) was declared on 18 August 2009
and subsequently paid. The directors do not recommend payment of final dividend in respect of the year
ended 31 December 2009.

Property and equipment

Movements in property and equipment are set out in note 6 to the financial statements.

Share capital
Details of share capital of the Company are set out in note 11 to the financial statements.

Directors
The directors during the period and up to the date of this report were:

(1) Kwek Leng Beng

(2) Wong Hong Ren

(3) Ali Hamad Lakhraim Al Zaabi

(4) Khamis Saad

(5) Richard Hartman

(6) Wai Lam Lawrence Yip (alternate director to Richard Hartman)

 (7) Derek Man (alternate director to Ali Al Zaabi)

There being no provision in the Company’s Articles of Association in connection with the retirement of
directors, all existing directors continue in office for the following year.

No contract of significance to which the Company, any of its holding company or fellow subsidiaries was
a party, and in which a director of the Company had a material interest, subsisted at the end of the period
or at any time during the period, except as disclosed elsewhere in the financial statements.

At no time during the period was the Company, any of its holding company or fellow subsidiaries a party
to any arrangement to enable the directors of the Company to acquire benefits by means of the acquisition
of shares in or debentures of the Company or any other body corporate.

Auditors
KPMG retire, and being eligible, offer themselves for re-appointment. A resolution for the re-
appointment of KPMG as auditors of the Company is to be proposed at the forthcoming Annual General
Meeting.

By order of the board

Director

Hong Kong, ___ April 2010