1. 0 2005 Preliminary Results 23 February 2006

2. 1 Sir Ian Robinson Chairman

3. 2 David Michels Group Chief Executive

4. 3 Brian Wallace Deputy Group Chief Executive and Finance Director

5. 4 (1) Before non-trading items 2005 £m 2004 £m Variance B(W) % Betting 266.6272.8(2.3) Central costs and income (18.1)(14.1)(28.4) Operating profit (1) 248.5258.7(3.9) Finance costs (16.9)(34.1)50.4 Profit before tax (1) 231.6224.63.1 Hotels (1) (2) 187.5 159.017.9 Finance costs (5.2) (6.9)24.6 Profit before tax (1) 182.3152.1 19.9 413.9376.79.9 Year to 31 December Continuing Operations Discontinued Operations Group profit before tax Summary of Performance

6. 5 Group effective tax rate15.0%15.5% EPS – Continuing Operations (1) 11.9p11.5p3.5 EPS – Total Group (1) 22.0p20.2p8.9 Net Debt£397.9m£971.9m (1) Before non-trading items Summary of Performance 20052004 Variance B(W) % Year to 31 December

7. 6 Hotels Worldwide Revpar 2005 vs 2004 March and April results have been combined due to the timing of Easter. Like for Like Hotels, Constant Currencies

8. 7 UK630.981.3655.188.1 Europe & Africa1,249.382.71,138.358.2 MEAP726.927.0652.718.5 Americas263.624.0236.018.9 LivingWell52.74.250.06.3 2,932.4219.22,732.1190.0 Central Costs1.7(31.7)0.4(31.0) 2,925.1187.52,732.5159.0 Hotels Summary of Results 20052004 Revenue £m Revenue £m Profit £m Profit £m

9. 8 Cash generated by operations 553.4549.6 Interest, tax and dividends paid(251.7)(243.1) Cash flow before capex301.7306.5 PPE expenditure – Betting(66.6)(47.3) PPE expenditure – Hotels(130.3)(127.6) Intangible additions (1) (45.4)(40.7) Acquisitions (2) (78.0)- Cash flow after capex (18.6)90.9 Disposals (3) 540.940.1 Exchange and other movements (4) 51.744.8 Net borrowings movement574.0175.8 Opening net borrowings(971.9)(1,147.7) Closing net borrowings(397.9)(971.9) (1)Includes £38.0m licence additions (2004: £23.2m) (2)Includes 2005 acquisition of Jack Brown for £76.5m (3)Includes £537.5m on hotel disposals in 2005 (2004: £38.0m) (4)Includes £5.8m adverse exchange (2004: £17.8m favourable) and £38.1m inflow from share capital issue (2004: £7.8m) Hilton Group plc – Cash Flow 2005 £m Year to 31 December 2004 £m

10. 9 Cash Return (1)Based upon current issued share capital. Assuming full conversion of the Group’s convertible bonds and the exercise of all outstanding employee share options, the aggregate amount of the return of value to shareholders will amount to approximately £4,227 million (2)Comprises proposed final dividend of 6.6 pence and proposed special dividend of 233.4 pence Hotels disposal proceeds 3,298.4 Cash float adjustment(30.0) Pension contribution(55.5) Other costs and income (55.6) Incremental debt raised 698.4 Cash return to shareholders (1) 3,855.7 Dividend per share (2) £2.40 £m

11. 10

12. 11 Rosemary Thorne Finance Director

13. 12 UK Retail683.6 652.5 207.8 214.7 Ireland & Belgium71.0 69.0 11.7 13.2 eGaming123.1 89.3 41.4 21.3 Telephone Betting21.0 46.1 (0.1) 17.8 Vernons19.3 20.2 5.8 5.8 Betting and Gaming918.0 877.1 266.6 272.8 Betting and Gaming 2005 £m 2004 £m 2005 £m 2004 £m Gross WinOperating Profit Year to 31 December

14. 13 UK Retail - Results OTC gross win484.5474.72.1 Machines gross win199.1177.812.0 Total gross win 683.6 652.5 4.8 VAT / Gross profits tax(101.3) (96.4) (5.1) Staff costs(171.4)(156.3)(9.7) Property costs (1) (78.2)(68.6)(14.0) Content costs (2) (53.4)(48.0)(11.3) Other costs (inc. depn) (3) (71.5) (68.5)(4.4) Operating profit207.8 214.7 (3.2) (1) Rent, rates and utilities (2) Pictures, data, levy, Sky (3) Depreciation = £29.8m (2004: £28.2m) 2005 £m 2004 £m Variance % B(W) Year to 31 December

15. 14 UK Retail - KPIs Like for like total gross win growth0.4%12.0% Like for like OTC gross win growth(2.3)%4.4% Like for like machines gross win growth7.7%39.3% OTC margin16.1%16.2% Like for like total costs (1) increase5.2%6.1% Like for like shop staff costs increase7.3%15.4% Stake per slip (2) £8.47 £8.47 - Average number of FOBTs 6,403 5,14624.4 Average weekly gross win per FOBT £545 £584(6.7) Year to 31 December (1) Excludes VAT and Gross profits tax (2) Slips exclude machines 20052004 Variance % B(W)

16. 15 eGaming - Gross win Sportsbook 33.026.525 Poker41.423.179 Casino39.133.616 Games 9.66.157 Gross win123.1 89.3 38 Year to 31 December 2005 £m 2004 £m Variance % B(W)

17. 16 eGaming - Results 2005 £m 2004 £m Variance % B(W) Gross win 123.1 89.3 38 Gross profits tax(5.8) 4.7 (4.9) 5.5 Levy(1.5) 1.2 (1.6) 1.8 Staff costs(10.2) 8.3 (7.7) 8.6 (32) Software & geographical partners (1) (26.9) 21.9 (18.0) 20.2 (49) Marketing (inc. affiliates)(21.1) 17.1 (21.6) 24.2 Banking & chargebacks(5.3) 4.3 (3.0) 3.4 (77) Other costs (inc. depn)(10.9) 8.9 (11.2) 12.5 Operating profit41.4 33.6 21.3 23.9 94 Year to 31 December (1) Payments to third party software and platform providers and geographical partners %age of Gross win %age of Gross win

18. 17 Telephone Betting - Results Gross win exc. High Rollers30.539.8(23.4) High Rollers’ gross win(9.5)6.3 Total gross win 21.0 46.1 (54.4) Gross profits tax(3.1) (6.8) Levy(2.1)(3.5) Staff costs(8.1)(8.6)5.8 Direct operating costs (1) (3.0)(3.0) Other costs (inc. depn)(4.8) (6.4) Operating profit(0.1) 17.8 (1) Direct operating costs include telephone, bandwidth and banking costs 2005 £m 2004 £m Variance % B(W) Year to 31 December

19. 18 Telephone Betting - KPIs (1)Numbers of calls (excluding customer service calls) (2)Active customers are those who placed a bet during the period No. of calls (000’s) (1) 7,2906,6599.5 Agent cost per call63p 69p 8.7 Margin (exc. High Rollers)7.3%8.7% Active customers (000’s) (2) 125.3 125.2 0.1 20052004 Variance % B(W) Year to 31 December

20. 19 Analysis of 2005 Capital Expenditure Capex UK Development (1) 37.716.2 Xtra4.1- Ireland3.25.0 Other (including IT £3.1m, 2004: £9.5m FOBTs)11.124.7 Retail56.145.9 eGaming / Telephone betting4.16.3 Total (Operating assets: £54.9m, intangibles: £5.3m)60.252.2 Acquisitions Jack Brown80.3- Other (UK: £43.1m, Ireland: £1.4m)44.524.7 124.824.7 2005 £m (1) Development = new licences, relocations and refurbishments 2004 £m

21. 20 Capital Structure £m Opening adjusted net debt at 1 January 2006 (397.9) Incremental debt raised for return to shareholders (698.4) Pro forma adjusted net debt following cash return (1) (2) (1,096.3) Ongoing target net debt to EBITDA range of 3.5 to 3.75 times Group Defined Benefit Pension scheme deficit of nil (1) Estimated net debt immediately following cash return to shareholders and transaction costs (2) Assumes no conversion of convertible bond or outstanding share options

22. 21 Pro Forma Ladbrokes PLC Betting & Gaming (2005 Result) 266.6 Proforma Central Costs (1) (15.0) Operating Profit 251.6 Proforma Finance Costs (2) (57.0) Profit Before Tax (3) 194.6 Estimated ongoing effective tax rate of 25% - 30% Estimated dividend cover of 2.0x £m (1)2006 estimate (2)Based upon estimated net debt of £1.1 billion, GBP LIBOR rates at 51 bps spread, excludes IFRS pension interest. Refinancing the £300m convertible bond with bank debt will increase this charge by approximately £6m (3)Excludes non-trading items and results of discontinued activities Year to 31 December

23. 22 Christopher Bell Chief Executive Officer

24. 23

25. 24 UK Retail Gross Win Margin % 2005 2004200302-04 3 year Av. Q4Q3Q2Q1 Horses14.414.012.215.613.914.213.914.2 Football26.414.328.422.723.418.724.120.5 OTC17.515.414.717.416.116.216.416.3 Horse overround per runner 1.501.541.581.571.551.601.721.75 %1 st /2 nd favs48.849.148.949.349.050.954.052.4 % margin lost at Aintree / Epsom Derby 0.6--n/a *all figures exclude Jack Brown

26. 25 UK Retail Gross Win Margin % 2005 2004200302-04 3 year Av. Q4Q3Q2Q1 Horses14.414.012.215.613.914.213.914.2 Football26.414.328.422.723.418.724.120.5 OTC17.515.414.717.416.116.216.416.3 Horse overround per runner 1.501.541.581.571.551.601.721.75 %1 st /2 nd favs48.849.148.949.349.050.954.052.4 % margin lost at Aintree / Epsom Derby 0.6--n/a *all figures exclude Jack Brown

27. 26 UK Retail Gross Win Margin % 2005 2004200302-04 3 year Av. Q4Q3Q2Q1 Horses14.414.012.215.613.914.213.914.2 Football26.414.328.422.723.418.724.120.5 OTC17.515.414.717.416.116.216.416.3 Horse overround per runner 1.501.541.581.571.551.601.721.75 %1 st /2 nd favs48.849.148.949.349.050.954.052.4 % margin lost at Aintree / Epsom Derby 0.6--n/a *all figures exclude Jack Brown

28. 27 UK Retail Gross Win Margin % 2005 2004200302-04 3 year Av. Q4Q3Q2Q1 Horses14.414.012.215.613.914.213.914.2 Football26.414.328.422.723.418.724.120.5 OTC17.515.414.717.416.116.216.416.3 Horse overround per runner 1.501.541.581.571.551.601.721.75 %1 st /2 nd favs48.849.148.949.349.050.954.052.4 % margin lost at Aintree / Epsom Derby 0.6--n/a *all figures exclude Jack Brown

29. 28

30. 29 Shop Development – UK & Ireland No. Shops’05’06 pipeline Acquisitions191? New licences 3043 Relocations 8184 Extensions 1228 Refurbishments17855 Total492 210

31. 30 eGaming Year to 31 December20052004Variance %B(W) Average monthly active player days(000’s) - Sportsbook47141713 - Poker411195111 - Casino645614 - Games543938 Average weekly Poker rake£793k£443k79 Average weekly Casino drop£749k£644k16 Sportsbook gross win£33.0m£26.5m25 Gross win conversion33.6%23.9%

32. 31

33. 32 Taxation and Regulation FOBTs – Amusement Machine Licence Duty – Gaming Machines From Autumn 2007 REMOTE GAMING – Regulation – Taxation £500 Jackpot Machines from Autumn 2007

34. 33 Outlook

35. 34 Our Future International experience in 200 countries, 18 currencies, 12 languages Ladbrokes, the strongest brand Management skills and people Huge retail footprint 2,583 shops Leading edge technology

36. 35

37. 36 Casino Developments 17 New Casinos – 2005 Act Ladbrokes Casino and Sports Bar Ladbrokes Palace of Light, Blackpool

38. 37 Brand Awareness - Sweden

39. 38

40. 39 Our Future Strong International brand Depth and breadth of management Clear focused strategy Expansion Cash generative

41. 40 2005 Preliminary Results 23 February 2006

42. 41 Appendix

43. 42 Taxation Normal tax charge: Tax charge at 15% on Group profit before tax and non-trading items 62.1 Allocated : Continuing Operations40.9 Discontinued Operations21.2 Non-trading tax charge: Tax charge on non-trading items :0.9 Total tax charge63.0 £m

44. 43 Hotels - Like for Like Profit Reported profit (1) 187.5 171.3 9.5% IFRS adjustment to 2004 numbers -(12.3) Revised profit 187.5159.017.9% Non comparable entities at constant currencies(9.6) (10.0) St Lucia Termination payment(2.3) - Foreign exchange (0.9) - Like for like profit (1) 174.7 149.017.3% (1) Before goodwill amortisation and exceptional items 2005 £m 2004 £m Variance B(W) % Year to 31 December

45. 44 Hotels - Cost Management (1) Before non-trading items Total Hilton £m Hotels Increasing revenue £m Hotels Declining revenue £m Revenue increase / (decrease)155.3189.9(33.9)(0.7) GOP increase / (decrease) (1) 83.3109.9(23.0) (3.6) Incremental conversion53.6%57.9%32.2% Rental & Owners return(49.1) Property taxes / rates(4.7) Other(3.8) Operating profit increase (1) 25.7 LivingWell & Subs £m Like for Like Hotels, Constant Currencies Year to 31 December

46. 45 Europe (Hilton brand) - Revpar By Country 2004 2005 +1.2% +9.2% +6.4% Like for Like Hotels, Constant Currencies

47. 46 Scandic Revpar 2005 vs 2004 March and April results have been combined due to the timing of Easter. Like for Like Hotels, Constant Currencies, Scandic Acquired Revpar growth 2005 vs 2004

48. 47 Worldwide Revpar by Ownership Type +4.4% +8.4% +8.1% 2004 2005 Like for Like Hotels, Constant Currencies Revpar growth 2005 vs 2004

49. 48 Yield Premium - Hilton vs London Market Market Source: PKF Hotel Consultancy Services Market is 8 competitor chains - Marriott International, InterContinental, De Vere, Millennium & Copthorne, Thistle, Le Meridien, Whitbread, Sheraton Cumulative Year to Date Revpar Premium

50. 49 Market Source: PKF Hotel Consultancy Services Market is 8 competitor chains - Marriott International, InterContinental, De Vere, Millennium & Copthorne, Thistle, Le Meridien, Whitbread, Sheraton Cumulative Year to Date Revpar Premium Yield Premium - Hilton vs UK Provincial Market

51. 50 Revenue541.8277.4912.91,133.15.552.72,923.4 Gross operating profit171.1104.1317.2429.85.518.21,045.9 Less: Rental/owners return(8.9)(65.9)(197.6)(382.6)-(4.3)(659.3) Depreciation(39.6)(19.7)(28.4)--(5.0)(92.7) Other costs/income(25.2)(5.9)(37.4)-(1.5)(4.7)(74.7) 2005 Profit97.412.653.847.24.04.2219.2 2004 Profit99.76.636.538.02.76.3190.0 Hotels - Analysis by Contract Type Total ManagedLivingWell No. of hotels413915412729n/a390 No. of rooms13,4758,91933,53837,0528,807n/a101,791 Owned Fixed Lease Contingent Lease £m Franchise Year to 31 December

52. 51 Geographical Revpar by Ownership Type Like for Like Hotels, Constant Currencies Owned & Fixed Lease Contingent Lease Managed UK1.4%1.5%0.6% Europe & Africa7.3%10.5%4.6% Middle East & Asia Pacific0.0%7.1%9.2% Americas2.3%18.4%18.2% Total4.4%8.4%8.1%

53. 52 Appendix

54. 53 UK Retail - Shop Numbers Plus: 73 relocations 172 refurbs 11 extensions Number of shops

55. 54 Ireland & Belgium 2005 £m 2004 £m Variance % B(W) Gross win 71.0 69.0 2.9 Betting tax(17.2) (17.4) Other costs(42.1) (38.4) (9.6) Operating profit11.7 13.2 (11.4) Shop numbers - Ireland 148 1387.2 Shop numbers - Belgium 301 310(2.9) Year to 31 December

56. 55 Vernons Gross win 19.3 20.2 (4.5) Gross profits tax(2.8) (3.0) Other costs(10.7) (11.4) 6.1 Operating profit5.8 5.8 - Customer recruitment (000’s): New customers 7172(1.4) Reactivated customers6883(18.1) 2005 £m 2004 £m Variance % B(W) Year to 31 December

57. 56 eGaming - KPIs 20052004 Variance % B(W) Year to 31 December (1) Total successful registrations Total registrations (000’s) (1) 479 375 28 Average monthly active player days (000’s) Sportsbook471 417 13 Casino6456 14 Poker411195 111 Games543938 Customer acquisition costs (2) £32.10£44.2527 (2) Marketing costs less CRM costs divided by total successful registrations

58. 57 eGaming - KPIs Sportsbook stake per bet £17.01£14.4418 Sportsbook margin6.8%8.3% Average weekly Poker rake£793k£443k79 Average weekly Casino drop£749k£644k16 Average weekly Games drop£185k£118k57 20052004 Variance % B(W) Year to 31 December