KarstadtQuelle AG

euro adhoc: KarstadtQuelle AG
Mergers - Acquisitions - Takeovers / KarstadtQuelle creates leading global tourism group - Thomas Cook merges with MyTravel plc

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12.02.2007

Ad hoc release under Section 15 Securities Trading Act

KarstadtQuelle creates leading global tourism group - Thomas Cook merges with MyTravel plc

Essen/Germany, February 12, 2007 -KarstadtQuelle AG is merging its tourism subsidiary, Thomas Cook AG, with the leading British travel company, MyTravel plc to create one of the leading tourism companies worldwide with sales of approximately  EUR 12 billion. The newly formed company will be named Thomas Cook Group plc and will be listed on the London Stock Exchange. KarstadtQuelle will hold 52 per cent in the new company, and will fully consolidate its financials in the KarstadtQuelle accounts. MyTravel shareholders will receive a 48 per cent stake in the company. KarstadtQuelle will contribute the Chairman,  joint CEO and the CFO. The merger is subject to approval from the anti-trust authorities and the shareholders of  MyTravel plc as well as the final closing of the previously announced transaction with Lufthansa.

KarstadtQuelle shareholders benefit in several ways from the agreed transaction. Firstly, the merger will lead to substantial cost and revenue synergies, including the use of MyTravel tax loss carry forwards of EUR 1.2 billion. The merger is executed without the incurrence of any additional debt. Furthermore, the transaction will significantly diversify the business and regional footprint of KarstadtQuelle. Finally, Thomas Cook Group plc. will be a separately listed entity, that will make the value of the business and the generated synergies fully transparent. KarstadtQuelle shareholders will also benefit from the attractive valuation multiples of public companies in the tourism industry.

As a result of this transaction, the new KarstadtQuelle Group will generate sales of about EUR 21 billion, of which around 50 per cent come from the international markets. The equity ratio is expected to increase to 25 per cent. The Group remains free of net financial debt, taking into account the planned sale of the  stake in its Highstreet property joint venture.

Essen, February 12, 2007 The Management Board

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ots Originaltext: KarstadtQuelle AG
Im Internet recherchierbar: http://www.presseportal.ch

Further inquiry note:

Branche: Retail
ISIN:      DE0006275001
WKN:        627500
Index:    CDAX, Classic All Share, HDAX, MDAX, Midcap Market Index,
              Prime All Share
Börsen:  Frankfurter Wertpapierbörse / official dealing/prime standard
              Börse Berlin-Bremen / official dealing
              Hamburger Wertpapierbörse / official dealing
              Baden-Württembergische Wertpapierbörse / official dealing
              Börse Düsseldorf / official dealing
              Niedersächsische Börse zu Hannover / official dealing
              Bayerische Börse / official dealing



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