TOMORROW FOCUS AG buys a further 14 percent of HolidayCheck AG

TOMORROW FOCUS AG has, today, through its subsidiary TF-Beteiligungs GmbH, bought a further 14 percent of the travel portal HolidayCheck AG, based in Bottighofen, Switzerland. The purchase price of 21.6 million will be paid in three instalments. 60 percent of the purchase price is to be paid immediately, a further 30 percent on 12th February 2010 and 10 percent on 12th February 2011. Included in the purchase price are the proportionally accrued earnings and cash subscription rights.

TOMORROW FOCUS AG now holds 94 percent of the shares in HolidayCheck AG. The remaining shares are held by the existing shareholders. With regard to these shares, the existing Put-Call arrangement has been changed so that they can now be drawn by both sides in the course of 2014. The founding partners are still linked to the company in the management team and through their advisory role.

Stefan Winners, CEO of TOMORROW FOCUS AG: "HolidayCheck has shown outstanding development in recent years and months. Moreover, the operating results for the year 2008 were considerably higher than the previous year and above target. HolidayCheck also seems to have emerged from the current crisis as a winner. The increase in our shareholding to 94 percent was therefore a sensible move. At the same time, I am very pleased that the successful shareholders and management team will continue to be involved in HolidayCheck. It's a clear sign of how the founders judge the future growth of the company. To be specific, it is our goal to become one of the top three players in the European online travel sector.