Travel Holdings, Inc. Closes on a $15 Million Round of Institutional Investment

Travel Holdings, Inc. Closes on a $15 Million Round of Institutional Investment

ORLANDO, Fla., Dec. 20 /PRNewswire/ -- Travel Holdings, Inc. which was formed earlier this year by the merger of Tourico Holiday Tours, LastMinuteTravel.com, and Travel Global Systems (TGS) announced today that it has concluded a $15 million round of capital that includes investments from leading domestic and international institutional investors.

Travel Holdings, Inc. is one of the most innovative and diverse travel distribution companies in the world. Headquartered in Orlando and with technology operations in Tel Aviv, Travel Holdings serves customers in 122 countries. By supplying proprietary global travel inventory and technology at highly competitive pricing, Travel Holdings integrates with every segment of the travel industry including retail, wholesale, group, travel agents, corporate and affiliates. Travel Holdings, Inc. is the only on-demand, worldwide, multi-channel travel distribution network. With a combined 20 years in travel distribution and service to the world tourism market, Travel Holdings offers the consumer market penetration of LastMinuteTravel.com with the wholesale clout of Tourico Holidays and the empowering technology of Travel Global Systems (TGS).

Alan Greenberg, CEO and Chairman of the Board of Travel Holdings said, "This round of institutional investment will fuel our global expansion that includes the growth of our holdings throughout Europe and the Far East. In addition, Travel Holdings will launch both Russian and Hebrew language travel sites early next year, and plans are underway for additional new consumer and business-to-business sites," added Greenberg.

Leading institutional participants in the private placement include:

-- Pharos Capital, Dallas, TX
-- Massey Birch, Nashville, TN
-- New Media Holdings, NY
-- Everest Capital, Bermuda
-- BEV Capital, Stamford, CT
-- Maariv Publishing, Tel Aviv, Israel
-- Greenberg Ventures, Atlanta, GA

RECENT COMPANY HIGHLIGHTS
2004



Since the merger of the three companies creating Travel Holdings, Inc., the company has achieved several milestones including:

-- The new Company became the largest US based global receptive tour
operator
-- Inc Magazine Names Travel Holdings To The "Inc 500"
-- Travel Holdings signs its 10,000th merchant hotel contract
-- 37 airlines sign net rate contracts
-- Global receptive business grows to 2,500 tour operators in
122 countries
-- 92 dedicated Web sites launched in 2004
-- 24/7 call center expanded to serve 23 languages
-- Europe and South America expansion completed
-- Company enters China, South Africa, Middle East and India
-- OneMinuteBooking.com launched to serve US travel agents
-- TGS launches point-to-point dynamic packaging
-- TGS launches direct-connect capability
-- 60 host-to-host connections launched with global tour operators
-- Extranet launched
-- Caching system launched
-- Automatic accounts reconciliation technology deployed
-- LastMinuteTravel.com launches new UI
-- LastMinuteTravel.com, in partnership with Overseas Media, to launch
Russian website and business affiliate
-- Translation to Spanish, Portuguese, Hebrew and Russian completed for
international URLs
-- Direct Connect To Choice Hotels
-- Direct Connect To Jumpstart and Galileo



Travel Holdings, Inc. is a privately held corporation, led by Alan Greenberg, CEO and Chairman of the Board, and Uri Argov, President. The Company has its worldwide headquarters in Orlando. For more information, visit: www.travelholdings.com , or email: opportunity@travelholdings.com .


Source: Travel Holdings, Inc.

CONTACT: Gayle MacIntyre of Travel Holdings, Inc., +1-404-495-2068, or
+1-404-643-8222, or gmacintyre@travelholdings.com

Web site: http://www.travelholdings.com/


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