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Consultour/Club Voyages shareholders agree to sell their shares to Transat

Montreal, April 19, 2000

Transat A.T. Inc. announces that the shareholders of Les Agences CT/CV inc. have agreed to sell their shares subsequent to Transat’s offer to acquire all of the company’s outstanding shares.

In March, Transat A.T. Inc. made separate purchase offers to each of the shareholders of Les Agences CT/CV inc., a private holding company with 10 shareholders that owns a 50% interest in Consultour/Club Voyages. Transat owns the other 50% since 1988.

Consultour/Club Voyages acts as a consolidator (a wholesaler of airline tickets at preferential rates), and a franchisor of travel agencies in Quebec (with 160 sales outlets). It also holds travel agencies in Quebec and in France (the Euro Charter/Club Voyages network with 47 sales outlets in French territory).

The transaction, to be completed by the end of this month, will bring Transat’s interest in Consultour/Club Voyages to 100%.

Transat A.T. Inc., the leader in the Canadian travel and tourism industry, is a public corporation listed on the Toronto Stock Exchange. Through its subsidiaries and affiliates, it is involved in all aspects of the organization and distribution of travel services and air transportation.

Its wholly-owned subsidiaries are: the airline Air Transat, tour operators Air Transat Holidays (Montréal, Québec City, Toronto, Vancouver and Fort Lauderdale), Vacances Air Transat (France), Brok’Air (France), Voyages Nolitour (Montréal), Regent Holidays (Toronto), the Tourbec travel agency chain, Services Haycot, an airport handling services company, Exit Travel, which specializes in retail e-commerce, as well as the hotel management company, Cameleon.

Transat A.T. Inc. holds interests in tour operators Look Voyages (98%), World of Vacations (35%) and Consultour/Club Voyages, a travel agency franchise group (50%). As well, Air Transat Holidays holds a 66.7% interest in the incoming tour operator DMC Transat, and Look Voyages owns 49.6% of STAR Airlines.


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