MALMAISON HOTELS LIMITED

THE ROYAL BANK OF SCOTLAND PLC AS SECURITY AGENT AND SECURITY TRUSTEE FOR THE FINANCE PARTIES

BANK OF SCOTLAND PLC (AS SECURITY TRUSTEE FOR THE ORIGINAL LENDERS AND THE AGENT) (THE SECURITY TRUSTEE)

DEBENTURE

HOTEL INVEST UK A/S

THIRD PARTY DEBENTURE BETWEEN THE COMPANY AND THE CHARGEE

SOCIETE GENERALE (AS SECURITY TRUSTEE)

THIRD PARTY DEBENTURE

COUTTS & COMPANY,AS AGENT AND TRUSTEE FOR THE SECURED PARTIES (AS DEFINED)

DEED OF ADMISSION TO COMPOSITE GUARANTEE INDEMNITY AND DEBENTURE (AS DEFINED)