German Values Property Group AG

M&A Activity • Nov 8, 2006

News Details

Ad-hoc | 8 November 2006 08:20

Travel24.com AG assumes business concept of direct-touristik AG Schweiz and forms subsidiary as a direct tour operator – enormous sales potential with unique business model

Ad hoc announcement transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. —————————————————————————— Munich, 8 November 2006 – Travel24.com AG announces the first successful acquisition. The company will be taking over the business concept and executive staff of Swiss direkt-touristik AG and forming a new subsidiary Direkt Tourist AG. The purchase price is to be paid in the form of options for new shares of Travel24.com AG. As a direct tour operator, the new subsidiary will be by-passing the classic travel agent marketing channels to offer attractive, price-sensitive travel products through the sales channels TV, Internet, print, associations and discounters. This business model which was successfully and profitably established on the market by direkt-touristik, Switzerland, is to be pursued in future by transferring the executive staff to Direkt Tourist AG, Germany. The executive staff will be integrated by means of stock options in Travel24.com AG; the Swiss company is to be closed. The new company will have its registered office in Munich and initially be staffed by a team of eight. Examples of the innovative business concept of the Swiss are the joint promotions with Tchibo, Walmart and Aldi’s Austrian subsidiary Hofer, which are directly marketed through a number of channels, e.g. shops and/or Internet travel packages of direkt-touristik AG. Similar promotions have been contractually agreed or planned with various marketing partners for 2007 and should provide Travel24.com AG with a sizeable increase in turnover. The integration of a tour operator into the company’s product portfolio will now enable Travel24.com AG to assemble new product packages, to develop new and interesting target groups which are less Internet-versed and to market residual items on attractive terms via the Internet sales channel. The integration of a tour operator specialised in direct marketing opens up enormous sales potential for Travel24.com. From the tour operation sector the company anticipates total sales of EUR 20 million next year, as well as a positive contribution to the profits of Travel24.com AG in 2007. Integration is the first successful steps towards repositioning of Travel24.com AG and thus achieving a significant increase in corporate value for the shareholders. The company is currently conducting negotiations on further possible mergers, acquisitions and contributions in kind which could also quickly boost the strength of the company. ————————————————————————— Information and Explaination of the Issuer to this News: About travel24.com: Travel24.com AG was formed in February 1996 and is listed at the Frankfurt Stock Exchange (Prime Standard, ISIN: DE000A0FAP75). As an independent travel portal, travel24.com offers a comprehensive and attractive programme of travel information, package tours, flights and rental cars. The company’s Website www.travel24.com is one of the three best known and most popular German travel portals. In addition, it markets last minute offers via lastminute24.com and sells its own travel products through a new subsidiary Direkt Tourist AG. All travel informations and offers can be accessed online via the Internet and by telephone. For further information please visit: www.travel24.com – Holidays at your fingertips 24-hour service hotline: toll-free 0800-87 28 35 24 (0800-TRAVEL24). Contact: Travel24.com AG Investor Relations Sabine Fey Romanstraße 35 80639 München Tel.: +49 (0) 89 25 007 1012 Fax: +49 (0) 89 25 007 1021 mailto:ir@travel24.com www.travel24.com Urlaub zum Greifen nah. (c)DGAP 08.11.2006 ————————————————————————— Language: English Issuer: Travel24.com AG Romanstraße 35 80639 München Deutschland Phone: +49 (0)89 25007-1012 Fax: +49 (0)89 25007-1021 E-mail: ir@travel24.com WWW: www.travel24.com ISIN: DE000A0FAP75 WKN: A0FAP7 Indices: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-Bremen, Düsseldorf, München, Stuttgart End of News DGAP News-Service —————————————————————————