Kuoni reports further turnover and earnings growth

The Kuoni Group raised its third-quarter turnover by 4.0% to
CHF 1 547 million in 2008. Earnings before interest and taxes (EBIT)
for the period were increased by 8.2% to CHF 105.8 million. As a
result, the CHF 3 775 million turnover generated for the first nine
months of 2008 was an improvement of 7.4% on the prior-year period.
Nine-month EBIT was increased by an even higher 15.7% to CHF 119.7
million. Strategic Business Units (SBUs) Scandinavia, Switzerland and
Asia & Destination Management were the prime contributors to the
encouraging turnover and earnings rises of the first nine months. At
SBU United Kingdom, by contrast, the already-advanced economic crisis
and the resulting consumer restraint continued to depress demand.
Kuoni further pursued its growth strategy, acquiring Australian Tours
Management and UK-based luxury tour operator Carrier in the
third-quarter period.

+-------------------------------------------------------------------+
| INCOME STATEMENT | 1.1.-30.9.2008 | 1.1.-30.9.2007 | CHANGE in |
| (CHF MILLION) | | | % |
|---------------------+----------------+----------------+-----------|
| Turnover | 3 775.0 | 3 514.8 | +7.4 |
|---------------------+----------------+----------------+-----------|
| Gross profit | 800.0 | 756.6 | +5.7 |
|---------------------+----------------+----------------+-----------|
| Gross profit margin | 21.2 | 21.5 | |
| (%) | | | |
|---------------------+----------------+----------------+-----------|
| Earnings before | 119.7 | 103.5 | +15.7 |
| interest and taxes | | | |
| (EBIT) | | | |
|---------------------+----------------+----------------+-----------|
| EBIT margin (%) | 3.2 | 2.9 | |
|---------------------+----------------+----------------+-----------|
| Net result | 120.6 | 99.2 | +21.6 |
|---------------------+----------------+----------------+-----------|
| Cash flow | 172.9 | 242.5 | -28.7 |
+-------------------------------------------------------------------+

RESULTS HIGHLIGHTS FOR THE FIRST NINE MONTHS OF 2008

Group turnover totalled CHF 3 775 million, a 7.4% improvement on the
CHF 3 515 million of the prior-year period. Organic growth accounted
for 7.2 percentage points of the increase and acquisitions for 5.9
percentage points, while currency movements (particularly in the UK)
reduced the increase by a substantial 5.7 percentage points.

Earnings before interest and taxes (EBIT) saw a sizeable increase to
CHF 119.7 million, 15.7% up on the
CHF 103.5 million of 2007.

Third-quarter turnover increased to CHF 1 547 million, while EBIT was
improved to CHF 105.8 million.

Kuoni's growth strategy was further pursued with the acquisitions of
Carrier (of the UK) and Australian Tours Management. The acquisitions
will be included in the scope of consolidation from 1 October and 1
November 2008 respectively.

Kuoni's repositioning as a global travel brand with innovative
product lines, a contemporary-style logo and new-look brochures was
successfully launched worldwide with the Global Launch Event in
London in September 2008.

For more detailed information please check attached link.

____________________________________________________

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

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