Hotel Properties - Hold call from DBS Vickers but Buy call from Kim Eng

Date/Research House/Stock/Last Done/Target Price/Call/Valuation Method

02/23/10 DBS Vickers Hotel Properties 2.03 2.17 Hold RNAV (20% discount)
05/14/10 DBS Vickers Hotel Properties 2.22 2.3 Hold RNAV (20% discount)

02/23/10 Kim Eng Hotel Properties 2.03 2.4 Buy RNAV (20% discount)
06/02/10 Kim Eng Hotel Properties 2.05 3.33 Buy RNAV (20% discount)