The Board of Directors of City Developments Limited(the “Company”) wishes to announce that the Company and the independent non-executive directors of Millennium & Copthorne Hotels plc (the “Target”), a 65.204%-subsidiary1 of the Company listed on the Main Market of the London Stock Exchange (“LSE”), have jointly released an announcement (the “Joint Announcement”) on the LSE todayin relation to a possible cash offer to be made by Agapier Investments Limited, a wholly-owned subsidiary of the Company, for the Target. A copy of the Joint Announcement is attached as an Appendix to this announcement.
