TQ3 TRAVEL SOLUTIONS ESCALATES GLOBAL INVESTMENT PROGRAMME WITH SRI LANKA SIGNING

10 November 2004, London – TQ3 Travel Solutions, one of the leading global travel management companies, today reaffirmed its commitment to strategic investment and global expansion by announcing that it has signed Aitken Spence Travels Ltd, one of Asia’s foremost Destination Management Companies (DMCs), as its official licensee in Sri Lanka. The move follows the recent decision by TQ3 parent company TUI AG, the world’s leading tourism and travel services group, to invest in an initial 25% stake of Aitken Spence Travels Ltd, which now becomes TQ3 Sri Lanka. TUI AG intends to increase its investment in the company to 50% within the next three years. Primarily focussed on Incoming, Retail and Tour Operator activities, Aitken Spence Travels Ltd is part of the Aitken Spence Group – listed by Forbes amongst the 200 most successful publicly traded companies with annual sales under US$1 billion outside of the United States. Headquartered in the Sri Lankan capital, Colombo, Aitken Spence Travels Ltd. generates an annual turnover of US$14 million. The addition of such a leading player in the Sri Lankan market builds upon previous TQ3 strategic investments announced earlier this year within Asia and the Middle East as PST Travel Services S/B in Malaysia, Mannai Air Travel in Qatar, House of Travel in Bahrain and Mazyouna Travel, Tours & Cargo in Oman – all key players in their respective travel markets – also joined its global network. TQ3’s commitment to and the focus it places upon Asia and the Middle East is further bolstered by the recent opening of its Singapore-based Regional Management Company, which coordinates TQ3 activities throughout the two regions – emulating existing regional headquarters successfully established in Europe and the Americas. As many of the world’s leading corporations continue down the road of global expansion, a trend that has become increasingly prevalent in recent years, such a strong global presence demonstrated by TQ3 is highly desirable. Through replicating its comprehensive programme of providing strong in-depth regional knowledge, expertise and support, fully integrated with its global resources and proven solutions, TQ3 Travel Solutions is well positioned to deliver solid return on travel management investment and superior customer service to national and multinational companies. Commenting on the new partnership, Toby Joseph, TQ3 Travel Solutions’ global chief operating officer said: “TQ3 is committed to optimising the entire travel process for its clients wherever they conduct business across the globe. This commitment is exemplified by our strategic approach to global expansion, the latest of which will bring our proven travel expense management solutions, tangible savings and superior customer service to Sri Lanka’s corporate travel market.” -END- Notes to Editors About TQ3 Travel Solutions TQ3 Travel Solutions is the leading provider of quality, innovative travel expense management solutions to companies worldwide. With system-wide revenues in excess of $11 billion, TQ3 operates 1,200 locations in over 80 countries. www.tq3.com For further information, please contact: Melanie Garrett, Global Vice President of Marketing Tel: +44 (0) 207 153 3310 Mob: +44 (0) 7736 105257 [email protected] Rik Kumar, Communications Manager EMEA Tel +44 (0) 207 153 3315 Fax +44 (0) 207 153 3334 [email protected] Angeline Tang, Regional Manager (Marketing & Projects) APME Tel +65 6823 1444 Fax +65 6823 1376 [email protected]