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Transat A.T. Inc. - François Laurin appointed Vice-President, Finance and Administration, and Chief Financial Officer

Montreal, Qc, Canada, May 9, 2005

Jean-Marc Eustache, President and Chief Executive Officer of Transat A.T. Inc., is pleased to announce the appointment of François Laurin as the Company’s new Vice-President, Finance and Administration and Chief Financial Officer. Mr. Laurin will assume his new duties on May 24.

“I am very happy to announce Mr. Laurin’s appointment at the helm of Transat A.T.’s financial affairs,” said Mr. Eustache. “His knowledge of international markets, his experience with public companies, combined with his financial management expertise, will contribute to Transat’s development and influence.”

François Laurin is a chartered accountant and holds degrees from McGill and Concordia universities. He holds the CFA designation, as awarded by the CFA Institute (formerly known as the Association for Investment Management and Research or AIMR). In the course of his career, Mr. Laurin has worked for several major Canadian companies with a presence on the international market, including CDP Capital, Bombardier Transport and Teleglobe Inc.

“I also want to take this opportunity to thank Nelson Gentiletti for his excellent contribution to the management of Transat’s finances since he joined the Company in July 2002,” Mr. Eustache continued. “We will continue to benefit from Mr. Gentiletti’s managerial talents within the Company, because in August 2004 he was appointed Executive Vice-President of Transat Tours Canada, an umbrella company that comprises Transat Holidays, Nolitour/World of Vacations as well as the commercial operations of our carrier, Air Transat. Mr. Gentiletti will continue to fulfil both functions until Mr. Laurin takes over his new post in at the end of May.”

Transat A.T. Inc. with its head office in Montreal is an integrated company specializing in the organization, marketing, and distribution of holiday travel. The core of its business consists of tour operators in Canada and France. Transat is also involved in air transportation, value-added services at travel destinations, as well as in distribution through travel agency networks. Transat is listed on the Toronto Stock Exchange (TSX:TRZ.B; TRZ.RV.A).


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