Ian McCaig to Be Appointed Chief Executive of lastminute.com as Brent Hoberman Becomes Chairman

Ian, currently lastminute.com's Chief Operating Officer, stepsinto the role as Brent Hoberman, the company's co-founder, becomespart-time chairman of the group. Ian will report directly to MichellePeluso, President and Chief Executive officer of Travelocity.

Brent will play a key role in guiding and advising Ian on thestrategy and development of the group as well as the continuingdevelopment of its marketing and technology programmes. Damon Tassoneremains as deputy CEO and will continue to be responsible forgroup-wide strategy, business development and marketing. In additionto his current responsibilities, he will oversee lastminute.com'soperations in continental Europe.

Ian was appointed COO of lastminute.com in 2003 and has beenresponsible for the group's operations throughout Europe. Sincejoining, he has worked closely with Brent on the growth anddevelopment of lastminute.com and has successfully led the integrationwith Travelocity since its acquisition in July.

Aged 40, Ian was previously Vice President of 3G operations atNokia and spent seven years overall in the telecommunicationsindustry.

Brent Hoberman commented: "I am delighted that Ian has agreed totake on such a high profile and demanding role. He was always thenatural choice to succeed me ever since we hired him as COO threeyears ago.

"This company has come a long way in the past eight years. It hasbeen a tremendous journey, but there remains much to be done toconsolidate and extend our position in Europe's travel and leisureindustry. I am confident that Ian is the right person to lead thebusiness. I'm passionate about lastminute.com and its future successand I believe my role as chairman will enable me to take a betterperspective of the business and its future strategic development as awhole and support Ian as he takes the business forward.

"My move to chairman, meanwhile, will also enable me to spend moretime on a number of other business projects. Since I co-foundedlastminute.com in 1998, I haven't seen much daylight and I feel it'stime to broaden out a little."

Ian McCaig said: "I'm naturally delighted to take on thistremendous opportunity and it will be a privilege to continue workingwith lastminute.com's exceptional management team in my new role.lastminute.com is a special business and has so much more that it cando. We will continue to develop and innovate to ensure that ourcustomers get the very best value out of their free time."

Michelle Peluso, president and CEO of Travelocity said: "Ian is avery strong and seasoned leader and I'm delighted to have him assumehis new role. As we have gone through the integration process, itbecame clear to Brent and me that Ian is the perfect choice as CEO. Hewill do a great job leading the strong team we have in place inEurope, and at the same time, Brent will continue to make an enormouscontribution to the development of the business and the brand aschairman."

About lastminute.com

lastminute.com is a part of Travelocity. Its portfolio of Europeantravel and leisure websites includes consumer brands lastminute.com,travelocity.co.uk, holiday autos, holidayandmore.com,onlinetravel.com, medhotels, eXhilaration, first option andtravel4less, as well as degriftour.com and travelprice in France,resfeber.com in Scandinavia and lastminute.de in Germany.

About Travelocity

Travelocity(R) is committed to being the traveler's champion -before, during and after the trip - and guarantees everything about acustomer's booking will be right. If it's not, Travelocity will workwith its partners to make it right, right away. This customer-drivenfocus, backed by live 24/7 phone support, great prices and powerfulshopping technology has made Travelocity the fifth largest travelagency in the U.S. - booking $7.4 billion in travel worldwide in 2005.Based in Southlake, Texas, Travelocity also owns and operatesTravelocity Business(SM) and GetThere(R) for corporate travelers,lastminute.com, a leader in European online travel and ZUJI, a leaderin Asia-Pacific online travel. Travelocity is owned by Sabre HoldingsCorporation (NYSE: TSG), a world leader in travel commerce.