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OTK Associates

June 5, 2013

The chief executive of the US-based Morgans Hotel Group has urged shareholders to reelect the existing board of directors, and reject a bid by two families to place their children at the helm of the company.

The chief executive of the US-based Morgans Hotel Group has urged shareholders to reelect the existing board of directors, and reject a bid by two families to place their children at the helm of the company. He has also said that, if reelected, the board will consider strategic alternatives for the company, including its sale.

Michael Gross said Michael Olshan, Andrea Olshan and Jason Taubman Kalisman do not have the relevant business, industry or public company experience to qualify them to serve as directors.

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