J.P.Morgan Investment Banking Pitch Book

APPENDIX Financial buyer cost synergy analysis Cost synergies opportunities ($ thousands) Corporate salaries Corporate Executive bonus plan Finance, accounting and legal Public relations Human resources Additional Total 1 Source: Kerzner management JPMorgan 2006E budget¹ $4,860 3,750 5,463 1,902 1,860 $17,835 Synergies % (100.0%) (33.0%) Synergies - $ (3,750) (628) (945) $5,000 PROJECT PLATO 23

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