re: lastminute uk sale t/o FOR IMMEDIATE RELEASE 12 May 2005 On...

re: lastminute uk sale t/o


FOR IMMEDIATE RELEASE 12 May 2005

On 11 May UK time, lastminute.com PLC (PLC) announced to the London
Stock Exchange that it has received an approach which may or may not result in
a takeover bid being made for PLC.

travel.com.au Limited (TVL) owns 75.1% of lastminute.com Australia (LMA)
in a joint venture with PLC. The terms of the joint venture provide TVL with the
right (but no obligation) to sell its shares in LMA to PLC in the event of a change
of control in PLC. The value of any such sale would be determined by the
average revenue multiple for ASXlisted ecommerce companies.

Directors of TVL will consider the appropriate response, if any, should a change
of control in PLC occur.

Chairman Roger Sharp said:
"Consolidation is to be expected in the online travel sector. From TVL's
perspective, it's business as usual".