24 September 2008

Notification of Major Interests in Shares

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

INTERCONTINENTAL HOTELS GROUP PLC

2. Reason for the notification (please state Yes/No):

An acquisition or disposal of voting rights: YES

An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached: YES

An event changing the breakdown of voting rights:

Other (please specify):

3. Full name of person(s) subject to the notification obligation:

MORGAN STANLEY
(Institutional Securities Group and Global Wealth Management)

4. Full name of shareholder(s) (if different from 3.):

5. Date of the transaction (and date on which the threshold is crossed or  reached if different):

22.09.08

6. Date on which issuer notified:

23.09.08

7. Threshold(s) that is/are crossed or reached:

TO BELOW 6%

8. Notified details:

A: Voting rights attached to shares

Class/type of shares
if possible using
 the ISIN CODE
Situation previous to the triggering transaction

Number of shares Number of voting Rights 
ISIN:
GB00B1WQCS47
18,113,174 18,113,174
Class/type of shares
if possible using
 the ISIN CODE
Resulting situation after the triggering transaction

Number of shares Number of voting Rights  Percentage of voting rights 
Direct Indirect Direct Indirect
ISIN:
GB00B1WQCS47
4,161,969 4,161,969 N/A 1.45% N/A

B: Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument   Expiration Date Exercise/ conversion period/date No. of voting rights that may be acquired (if the instrument exercised/converted) Percentage of voting rights
PHYSICALLY SETTLED CALL OPTIONS   19 DECEMBER 2008   5,500,000 1.92%
 
PHYSICALLY SETTLED CALL OPTIONS   20 MARCH 2009   6,900,000 2.42%
Total (A+B)
Number of voting rights   Percentage of voting rights
16,561,969   5.79%

9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable:

Morgan Stanley Securities Limited     13,218,496
  4.63%
Morgan Stanley & Co Incorporated
  6,666   0.00%
Morgan Stanley & Co International Plc
  3,250,000
  1.14%
MS Capital (Luxembourg) SA
  69,248
  0.02%
Bank MS AG
  14,000
  0.00%

Proxy Voting:

10. Name of the proxy holder:

N/A

11. Number of voting rights proxy holder will cease to hold:

N/A

12. Date on which proxy holder will cease to hold voting rights:

N/A

13. Additional information:

NOTIFICATION USING THE TOTAL VOTING RIGHTS FIGURE OF 285,552,193

14. Contact name:

GROUP COMPANY SECRETARIAT

15. Contact telephone number:

01895 512000

Ends