Luxury Edinburgh hoteliers, The Town House Company, have purchased one of Glasgow�s most famous historical buildings, the former Royal Scottish Automobile Club in Blythswood Square.

The deal includes plans to sensitively convert the landmark property � built in 1823 - into a luxury, 109-bedroom hotel, renovating the building to its former glory with conference facilities, restaurants, a bar and first class leisure club and spa.

Peter Taylor OBE, Chairman of The Town House Company, commented:

�We have long admired this building for its location, historical importance and many fine architectural features. The chance to restore the property tastefully into a contemporary hotel, retaining its unique features and personality is a wonderful opportunity. It�s a magnificent building and we�re delighted to be the new owners.�

A number of hoteliers and developers have expressed interest in the property since the RSAC building went into administration. With commercial property firm Rydens advising, The Town House Company made a swift unconditional offer for an undisclosed sum to secure the building which has been in family ownership since 2002.

Included in the development will be the restoration of the famous Rally Bar, named after the Monte Carlo Rally which once started from Blythswood Square. The building is also home to some of the finest Edwardian features in the city including extensive wood panelling, feature staircases, marble flooring, and numerous Art Deco fittings and fixtures.

With four luxury hotels in Edinburgh, Channings, The Howard, The Bonham and The Edinburgh Residence, the Town House Company are best known for their tasteful recreation of historical buildings into contemporary, award winning hotels, each with a unique personality and style.

The news of the purchase has been welcomed by experts in the tourism and property industries. Scott Taylor, Chief Executive of Glasgow City Marketing Bureau commented:

�There is a real demand for luxury accommodation in Glasgow and I am sure that this hotel will compliment our position as a city with style. Personally, I am very pleased that this building in the safe hands of Peter Taylor and his team.�

Work is due to start on the building in February 2006 with the hotel opening for business in late 2007.

For further information, please contact: The Dovetail Agency � Jayne Alexander / Claire Bernard T: 020 7016 6740 E:claire@dovetail-agency.co.uk

NOTES TO EDITORS:

� 8-11 Blythswood Square is the complete eastern frontage of Blythswood Square built circa 1823 and remodelled by James Miller in 1923-26. Cornering West George Street to the South and West Regent Street to the North, the building is located in The Glasgow City Central Conservation Area. � Peter Taylor is Scotland�s most respected hoteliers with a career spanning over 30 years in UK hotels at the most senior level. A graduate of the Scottish Hotel School at the University of Strathclyde, his early career was spent in England before being lured back to Glasgow as the General Manager of the Albany Hotel in 1972. In 1980 he was recruited by Thistle Hotels progressing to Operations Director of Stakis at the end of 1982. His first privately owned hotel was The Lundin Links hotel in Fife which in 1984 he transformed from receivership to a profitable respected operation. He was an equity partner in the Capital Hotel in Edinburgh, where he led a Management Buy Out in 1986 before selling to Queens Moat Houses. However, his career has best been marked by the tasteful conversion of four Edinburgh properties into unique individual hotels as founder and Chairman of The Town House Company. His first, Channings in 1990, involved the complete restoration of five adjoining Edwardian town houses in The West End. Channings was a first for hotels, a luxury property with a warm club like atmosphere admired for its feeling as a country house hotel in town. In 1995 The Town House Company acquired The Howard in Great King Street out of receivership and against stiff competition � including fellow hotelier Ken McCulloch. The Howard, nestled in Great King Street, has been transformed into one of Edinburgh�s most exclusive hotels, an elite five crown deluxe hotel awarded with coveted AA Red Stars. With the opening of The Bonham in 1998, Taylor scored a UK first creating one of the hotel industry�s first contemporary hotels, crowned one of the worlds coolest hotels by Conde Nast, The Bonham, has paved the way for the fast growing contemporary hotel market with 48 bedrooms at the top end of the four star market. Peter divides his time with The Town House Company as a dedicated supporter of the Scottish tourism industry and mentor and adviser to a number of entrepreneurial businesses. He is Chairman of the Scottish Tourism Forum, former chairman of the British Hospitality Association and current President of the Edinburgh Chamber of Commerce. In 2004 he was awarded an OBE for services to tourism.

� Further information on The Town House Company can be found at www.townhousecompany.com � www.kdmedia.co.uk