Kuoni acquires Melbourne-based Australian Tours Management

Kuoni is further expanding its destination management division: the
Kuoni Group is to acquire the business activities of Australian Tours
Management Pty Ltd., which is domiciled in Melbourne. The transaction
will be formally effected on 1 November 2008. Australian Tours
Management is active on behalf of foreign tour operators in
Australia's destination management market. The new addition to the
Kuoni Group extends its destination management presence and
activities to Australia, too.

Australian Tours Management (ATM) was founded in Melbourne in 1983.
The company has further representations in Sydney, at the Gold Coast
and in Taipei, Taiwan. For the 2007/08 business year which ended on
30 June 2008, ATM generated total turnover of CHF 21 million. The
company's 31 employees will be retained, and the present management
team will remain responsible for ATM's continued positive
development. The parties agreed not to divulge the purchase price
involved. Within the Kuoni Group, the business activities of ATM will
be transferred to a new company and integrated into Strategic
Business Division Destinations. The Australian Tours Management brand
will be retained.

ATM is a specialist in leisure and special travel arrangements and in
incentive travel and events within Australia, and is strongly
positioned in the Indian and Far East source markets. "Australian
Tours Management ideally complements our activities in Asia," says
Rolf Schafroth, Head of Strategic Business Division Destinations. "We
see significant growth potential in Australia in the medium term,
especially for travellers from Asian countries."

This latest acquisition marks a further consistent step in Kuoni's
growth strategy. "With the addition of Australian Tours Management,
the Kuoni Group is now present with its own companies on all
continents," adds Max E. Katz, CFO and speaker of the Group Executive
Board. "This will provide us with a key competitive edge, especially
given the global nature of today's destination management business."

For full documents please see attached links.

For further information:
_________________________________________

Laurence Bienz
Head Investor Relations
Kuoni Travel Holding Ltd.
T +41 44 277 4529
laurence.bienz@kuoni.com
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