Acquisition

Online Travel Corporation PLC 20 November 2000 Online Travel Corporation Plc Acquires Viva To Assist In Further Expansion Across Ireland Online Travel Corporation plc ('OTC') has acquired Viva Travel Dun Laoghaire Limited ('Viva') via a wholly owned Irish subsidiary for a consideration of IR £184,000 (UK£140,000) - payable in cash of IR£156,400 and 52,626 ordinary shares of Online Travel Corporation plc. Viva is a fully licensed travel agency based in Dublin, and will shortly change its trading name to the 'Online Travel Company'. Viva will initially focus on providing a higher level of local support and service to existing OTC clients including Unison Travel, the Independent News and Media's Internet and digital portal in Ireland. Viva will also use OTC's technology to offer e-travel solutions and services to ISP's and corporate organisations in Ireland. Viva's profits after tax for the year ended 31st October 1999 amounted to IR£ 4,600 (£3,500) on a turnover of IR£2,470,000 (£1,860,000), and net assets at that date were IR£67,700 (£51,700). David Plunkett, the Managing Director of OTC's operations in Ireland, will be responsible for growing OTC's travel business in Ireland with strategic partners and by acquisition. Commenting on the expansion of OTC in Ireland, Mark Jones, Managing Director of OTC, said: 'Viva will facilitate an accelerated roll-out of our proven travel technology in the Irish market. Ireland has become a major location for hi-tech companies and is an ideal community for OTC to offer its integrated multi-channel travel solutions.' The expansion of OTC in Ireland comes rapidly after the recent announcement of OTC's acquisition of 50% of Breakaway in Australia. For further information, please contact: OTC Mark Jones, Managing Director Tel: 00 44 (0) 20 8255 2247 Robert Falkner, Finance Director Buchanan Communications Tel: 00 44 (0) 20 7466 5000 Nicola How / Isabel Petre - 2 - Notes to Editors: Online Travel Corporation plc OTC is an Internet based travel technology and distribution business, providing a comprehensive range of technological solutions, travel products and ancillary travel services to ISP's, Media and Affinity Groups and Corporate Organisations. It provides bespoke technology solutions linked to its wide product range to produce a one-stop travel service through the Internet, supported by telephone call centres for leisure and corporate clients to fulfil their travel needs. OTC provides a comprehensive range of travel products and ancillary travel services is both a travel agent and tour operator. OTC strategy focuses on low-cost routes to market with lower customer acquisition costs compared to that of a mass-market consumer brand and is focused on selected business areas. OTC has launched 47 travel sites with Strategic Partners in 9 months - 35 within leisure travel, 6 within corporate travel and 6 within concession travel. This has increased OTC's potential customer base to over 10 million online users. OTC is quoted on the Alternative Investment Market of the London Stock Exchange, having been admitted in June of this year after raising £6.5 million. Additional information is available at www.onlinetravelcorporation.com 20 November 2000
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