JAPAN LEISURE HOTELS LIMITED (the "Company")

Change of Administrator and Company Secretary

The Company announcesthat it has appointed Praxis Property Fund Services Limited ("Praxis") as its Administrator in place of Heritage International Fund Managers Limited.

Praxis, is regulated to carry out fund services business by the Guernsey Financial Services Commission, and will undertake matters pertaining to company secretarial, accounting and other administrative duties of the Company.

Pursuant to the Administration Agreement between Praxis and the Company, the appointment is effective from 1^st February 2010 and the new correspondence address for the Company is:

PO Box 296

Sarnia House

Le Truchot

St Peter Port

Guernsey

Channel Islands

GY1 4NA

Enquires:

Asset Manager

New Perspective Limited

Steve Mansfield                                                 +81 3 4550 1808

Nominated Advisor

Shore Capital and Corporate Limited                    020 7408 4090

Dru Danford 

Stephane Auton

Pelham Bell Pottinger

Archie Berens                                                    020 7337 1509 or 07802 442486