Kuoni acquires Scandinavia-based golfing specialist

The Kuoni Group is to acquire specialist tour operator Golf Plaisir
Resebyra AB on July 1. The corresponding contractual agreements were
signed yesterday. The Swedish-based company is currently the biggest
independent provider of golf travel products to the Scandinavian
market, and specialises in group travel for golfers to Mediterranean
destinations and exclusive tailored golfing vacations all over the
world.

Golf Plaisir Resebyra AB, which was founded in 1992 and is
headquartered in Stockholm, Sweden, has a workforce of 15 full-time
equivalents and generated turnover of around CHF 17 million in its
2006/07 business year. The company sells golf travel products via
direct-distribution channels, and some 25% of all its sales are
effected online. The parties agreed not to divulge the purchase price
involved.

Golf Plaisir Resebyra AB offers the Scandinavian market group travel
arrangements with its own golfing staff to 18 Mediterranean
destinations under its "Golf Plaisir" brand. It also provides
high-value individually-tailored golfing vacations to 50 destinations
all over the world under its "Out of Bounds" brand. Kuoni will retain
these brands within the Scandinavian market. The present management
team will remain responsible for the company's continued development
and success, and all current staff will also be retained.

"Our purchase of Golf Plaisir Resebyra marks a further step in our
acquisition strategy within the specialist segment," says Max E.
Katz, CFO of the Kuoni Group and Spokesman for the Group Executive
Board. "Golfing vacations are a growing market in Scandinavia, so our
new acquisition is an excellent addition to our portfolio in both the
inclusive tour and the tailored golf travel sectors."

Golf Plaisir Resebyra AB will be acquired in full. In organisational
terms it will be integrated into Kuoni Scandinavia, which is headed
by Leif Vase Larsen. Kuoni Scandinavia is part of Strategic Business
Division (SBD) Smart, which is led by Stefan Leser.

For full documents in English and German please see attached links.

For analysts and investors:
Laurence Bienz
Head of Investor Relations
Kuoni Travel Holding Ltd.
Neue Hard 7
CH-8010 Zurich
Phone +41 44 277 4529
Fax +41 44 277 4031
Email laurence.bienz@kuoni.com