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All Nippon Airways and InterContinental Hotels Group ANNOUNCE JOINT VENTURE TO CREATE JAPAN'S LEADING HOTEL GROUP

TOKYO, Japan, November 23, 2006 - ANA (All Nippon Airways) and InterContinental Hotels Group (IHG) signed a hotel operating joint venture to create what could be the biggest hotel operator in Japan, the world’s second largest hotel market in terms of number of rooms. The joint venture - to be named IHG ANA Hotels Group Japan - will officially commence on December 1, 2006. Britain’s IHG, which said it will invest $15 million for a majority stake in the joint venture, was selected as ANA’s partner after a highly competitive process. The strength of IHG’s family of brands, robust growth pipeline, international outlook and established operating systems made it the preferred partner for ANA, while ANA’s reputation for high quality standards and service made it an attractive partner for IHG. Both companies share corporate values and strategic objectives. ANA will sign new management contracts with IHG ANA Hotels Group Japan for its 13 owned and leased hotels (4,943 rooms). These hotels will, gradually over an 18 month period beginning in April 2007, be re-branded to one of the three co-brands created for Japan - ANA-InterContinental, ANA-Crowne Plaza and ANA-Holiday Inn. The flagship ANA Hotel Tokyo will be the first to be co-branded on April 1, 2007 as the ANA-InterContinental Tokyo. In addition, the joint venture will continue to operate ANA Hotels & Resorts’ other 18 hotels (4,127 rooms) under management contracts, franchise agreements and marketing referral agreements for third party owners, who will also be offered the opportunity to enjoy the benefits of co-branding. IHG currently operates 11 hotels in Japan (3,100 rooms), which, combined with IHG ANA Hotels Group Japan’s 31 hotels, gives a combined estate of 42 hotels with more than 12,000 rooms. ANA Hotels & Resorts’ 500,000 ANA Hotel Members will be given the opportunity to become members of IHG’s Priority Club Rewards, which is the world’s largest hotel loyalty program with more than 28 million members worldwide. In addition, ANA will sign up as a Priority Club Rewards’ global airline partner. Effective November 1, ANA Mileage Club members will be able to start earning air miles when staying at IHG hotels worldwide. As summarized by ANA President, Mr. Mineo Yamamoto, “The joint venture is a superb platform from which to strengthen our hotel business, grow the co-brands and develop our people, in order to benefit our guests, our shareholders, our employees and our business partners in Japan. ANA and IHG look forward to building a successful long term partnership and exploring opportunities for other strategic alliances.” The excitement is further corroborated by Mr. Hisataka Hiragochi, Executive Director of the Japan National Tourist Organization (JNTO) for the Americas. He noted, “This ANA-IHG joint venture is also thrilling for the JNTO, as it will serve to further promote Japan as a travel destination to the InterContinental Hotel Group’s global network, via IHG’s strong positive brand recognition and its industry-leading hotel operating systems.” The Japan National Tourist Organization, the tourism promotion board for the country of Japan, as a key member of the Visit Japan Campaign, is a public-private partnership under the auspices of Japan’s Ministry of Land, Infrastructure and Transport, with the mission to encourage and promote international travel to Japan and support Japanese travel suppliers. For more information on JNTO and on travel to and within Japan visit www.japantravelinfo.com ***************************************************************************** About InterContinental Hotels Group InterContinental Hotels Group PLC of the United Kingdom [LON:IHG, NYSE:IHG (ADRs)] is the world's largest hotel group by number of rooms. IHG owns, manages, leases or franchises, through various subsidiaries, over 3,650 hotels and 540,000 guest rooms in nearly 100 countries and territories around the world. The Group owns a portfolio of well recognized and respected hotel brands including InterContinental® Hotels & Resorts, Crowne Plaza® Hotels & Resorts, Holiday Inn® Hotels and Resorts, Holiday Inn Express®, Staybridge Suites®, Candlewood Suites® and Hotel Indigo®, and also manages the world's largest hotel loyalty program, Priority Club® Rewards, with over 28 million members worldwide. InterContinental Hotels Group’s portfolio in Asia Pacific includes 167 hotels and over 49,500 guest rooms under the InterContinental® Hotels & Resorts, Crowne Plaza® Hotels & Resorts, Holiday Inn® Hotels and Resorts, and Express by Holiday Inn® brands. IHG offers information and online reservations for all its hotel brands at www.ichotelsgroup.com and information for the Priority Club Rewards program at www.priorityclub.com. For the latest news from IHG, visit our online Press Office at www.ihgplc.com/media. About ANA ANA (All Nippon Airways) is the seventh largest airline in the world by passenger load (IATA ranking) and Japan’s largest domestic carrier. It is listed on the Tokyo Stock Exchange with a market capitalization of US$8.1bn (JPY932bn) as of 29 Sep 2006. Carrying almost 50 million passengers every year to 50 destinations in Japan and 23 cities throughout Asia, Europe and the United States, ANA is recognized for outstanding passenger service both on the ground and in the air. In the greatest Japanese tradition of mixing hospitality with high technology, personalized a la carte service compliments state-of-the-art entertainment systems and the latest in cabin design. ANA has been in the airline business for over 50 years, and combined with ANA Group companies, its activities extend across a host of complete travel and aviation-related services. As a member of Star Alliance, the world’s foremost airline alliance, ANA passengers enjoy access to a network of over 841 airport destinations in 147 countries, and reciprocal benefits such as mileage accrual and reception and lounge access. For further information please contact: JNTO Public Relations Marian Goldberg Tel. 212-757-5641 x16 E-mail: mgoldberg@jntonyc.org ANA Public Relations Rob Henderson Tel:+81 3 6735 1116 E-mail: r.henderson@ana.co.jp IHG Public Relations Charles Yap Tel: +65 9829 0310 E-mail: charles.yap@ichotelsgroup.com

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