GOLDEN TULIP TAKES OVER THE MANAGEMENT OF GOLDEN TULIP RÜSSELHEIM

Amersfoort (NL)/Lausanne (CH), September 2007 – Golden Tulip Hospitality is proud to announce the signing of a lease agreement for Golden Tulip Rüsselheim effective as per September 1st 2007.

The Golden Tulip Rüsselheim is owned by EuroTrade Hotels Europe III B.V. and has been with Golden Tulip under a franchise agreement since 2000.

From left to right: Hans Kennedie, President & CEO of Golden Tulip Hospitality Group and Harry Blik, Director of EuroTrade Hotels Europe III.

The Golden Tulip Rüsselheim is a First Class Hotel on the outskirts of Frankfurt in Ruesselsheim, located in a business district 8 minutes from the airport. The hotel offers 84 rooms in junior suite size (minimum 27-33 square meters). The hotel styling and technical facilities meet the high expectations of today business travelers. The location is conveniently reachable from the airport and the main cities in the area (Frankfurt, Mainz and Wiesbaden). The hotel offers free parking access, Rest and Jet offers, car rental and return on request.

Amit Biel, Senior Partner EuroTrade comments: "the composition of our portfolio assures the absolute return approach, very low risk to our investment and high potential for future gains. We seek to enlarge our portfolio while keeping our discipline for investment criteria".

Hans Kennedie, President & CEO of Golden Tulip Hospitality Group, adds: “We are extremely pleased with the addition of Golden Tulip Rüsselheim to our Hotel Management portfolio. This hotel has been with Golden Tulip under a franchise agreement for over 7 years and we look forward to implementing our management formula and its continuous positioning in the hospitality world.”

Harry Blik, Director of EuroTrade Hotels Europe III B.V. comments: “We are delighted to sign a lease agreement with Golden Tulip Hospitality Management. In today’s climate, there is a strong need for rationalizing hotel operations and with the international recognition of Golden Tulip, I feel that Golden Tulip Rüsselheim will be in good hands and will continue delivering positive returns and subsequently increase its property value:”

Golden Tulip’s portfolio in the Central European region comprises of 18 hotels under franchise and management, located in prime locations such as Berlin, Frankfurt, Hamburg, Munich, Prague and Vienna.

About EuroTrade

EuroTrade Hotels BV is a fully owned subsidiary of Eurotrade real Estate International (YNB) Ltd, ("ETRE") an Israeli corporation which its securities are publicly traded at the Tel Aviv Stock Exchange. ETRE focuses on acquiring and adding value to its income producing assets portfolio in Europe mainly. ETRE is managed by Amit Biel as Chairman and Boaz Kamar as CEO.

ETRE strategy is to invest in long term leased asset which reflect low risk with adequate return and potential upside. Its portfolio of 50,000 Sq meter characterized by low risk to its investment and yielding around 8% net (NOI).


About Golden Tulip Hospitality Group

Golden Tulip Hospitality Group (www.goldentulip.com), with its head offices in Amersfoort, The Netherlands and Lausanne, Switzerland, is a worldwide hospitality company with more than 909 hotels, 81.000 rooms in more than 50 countries. The Golden Tulip Hospitality Group franchises and manages hotels in Europe, the Middle East & Africa, the Asian Pacific Region and the Americas. In 2006, Hotels Magazine has ranked this company the 18th largest hotel chain.

As a multi-brand hospitality firm, the Golden Tulip Hospitality Group offers services in the two, three, four and five star categories. On the two-star side Golden Tulip has an alliance with the French B&B hotel chain. The three-star concept is the Tulip Inn for the limited-service first-class category, the four-star category falls under the Golden Tulip brand for the Superior First-Class business and Resort hotels and the recently introduced five-star concept Royal Tulip. In addition Golden Tulip offers its services through its commercial alliance with TOP International, a German based hotel consortium.

In the fall of 2006, Golden Tulip introduced BRANCHE, Restaurant, Bar and Lounge. This is a free standing restaurant chain, which will have establishments in most Golden Tulip Hotels and Tulip Inns operated by Golden Tulip. (For more information please visit www.brancherestaurants.com)