All Seven OTK Associates Director Nominees Elected to Morgans Hotel Group Board of Directors

NEW YORK--(BUSINESS WIRE)--OTK Associates, LLC (“OTK”), the largest shareholder of Morgans Hotel Group Co. (“Morgans”) (Nasdaq: MHGC) with 13.9% of the outstanding common stock of the company, today announced that, based on the preliminary results, Morgans stockholders have voted overwhelmingly to elect all seven OTK nominees – John Dougherty, Jason Kalisman, Mahmood Khimji, Jonathan Langer, Andrea Olshan, Michael Olshan and Parag Vora – to the company’s board of directors. Certification of the final results by the independent inspectors of elections, IVS Associates, is expected to be completed shortly.