Kuoni acquires Direkt Reisen in Switzerland

The Kuoni Group is to acquire a 60% shareholding in Direkt Reisen AG,
effective July 1. The remaining 40% of the company, which is
domiciled near Zurich, Switzerland, will remain in the possession of
the founding family and a further shareholder. Direkt Reisen AG is
one of Switzerland's leading direct sellers of inclusive-tour
products to the Mediterranean, the Caribbean and African and Asian
destinations. The acquisition thus further strengthens Kuoni's
position in the Swiss direct-sales travel market.

Founded in 1999, Direkt Reisen AG generated turnover of CHF 53
million last year with a workforce of some 25 employees. All the
company's personnel will be kept on. The Direkt Reisen brand and
further partner brands will also be retained. The parties agreed not
to divulge the sale price involved. Direkt Reisen and its activities
will be integrated into the Kuoni Switzerland unit of Strategic
Business Division Smart within the Kuoni Group.

Direkt Reisen offers inclusive tours, largely in the beach-holiday
segment, to the Mediterranean, the Caribbean and African and Asian
destinations. The company's product range also extends to cruises,
tours, rail travel and wellness vacations. Distribution is almost
entirely via call centres, and its products are also available
online.

"We expect to generate sizeable synergies between Direkt Reisen and
our present Kuoni Switzerland brands, in terms of both existing
customer relationships and increased procurement volumes," says
Stefan Leser, Head of Strategic Business Division Smart and CEO of
Kuoni Switzerland. "And we intend to exploit these to the full."

"Direkt Reisen is Switzerland's second-biggest direct-sales tour
operator," adds Max E. Katz, Group CFO and spokesman for the Kuoni
Group Executive Board. "So our new acquisition will substantially
expand Kuoni's position in this growing business segment within the
Swiss travel market."

For the full document please check the attached link.

For futher information:

LAURENCE BIENZ
Head of Investor Relations
Kuoni Travel Holding Ltd.
Phone +41 (0)44 277 4529
laurence.bienz@kuoni.com
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