Pan-European Hotel Acquisition Company N.V. (“PEHAC”) announces that the shareholders have approved the proposal for its early liquidation at the Extraordinary General Meeting of Shareholders (“EGM”), which was held yesterday.

The proposal for early liquidation was approved with 98% of the votes cast during the EGM. The founding shareholders have not voted on the proposal.

Today, Tuesday March 17, 2009 is the last trading day on Euronext Amsterdam by NYSE Euronext. As per March 18, 2009 the listing of the Shares and Warrants will be suspended until the completion of the delisting, which will be on March 30, 2009.

As described in the proxy documentation dated February 27, 2009 as amended on March 11, 2009, the liquidator will distribute payments on the Shares and Warrants. These distributions will be payable on the Shares and Warrants held through Euroclear Nederland (Nederlands Centraal Instituut voor Giraal Effectenverkeer B.V.) on March 27, 2009 to the holders of record at 5 P.M. (CET) on March 23, 2009.

Information about the Company:
PEHAC is a blank-check Company formed under the laws of the Netherlands as a public company with limited liability (naamloze vennootschap) to serve as a vehicle for an acquisition or acquisition of control, by way of an asset acquisition, merger, capital stock exchange, share purchase or similar transaction with one or more operating businesses in the hotel industry in Europe (a “Business Combination”).