Transat A.T. Inc. extends its activities to hotel management

Montreal, March 23, 1999

Transat A.T. Inc., the leading integrated company in the Canadian tourist industry, has extended its activities to hotel management. Transat has signed a five-year agreement with Cubanacan, a Cuban company, to manage the Las Brisas Club Resort and Villas, in Holguin, Cuba.

“This agreement is perfectly aligned with our corporate strategy of vertical integration,” remarked Jean-Marc Eustache, President and Chief Executive Officer of Transat A.T. Inc. “As well, by exercising greater control,” he added, “ we will in the near future be able to offer Canadians and Europeans a product that fully meets their needs and expectations.”The Las Brisas Club Resort and Villas offers superior accommodation, comprising a hotel area with 231 rooms and a villa section of 206 newly built rooms. The resort offers all-inclusive stays to vacationers.

Transat A.T. Inc., a leader in the Canadian travel and tourism industry, is a public corporation listed on the Montreal the Toronto stock exchanges. Through its subsidiaries and affiliates, it is involved in all aspects of the distribution of travel services and air transportation. Its wholly owned subsidiaries are: the airline Air Transat, tour operators Vacances Air Transat Holidays (Montreal, Quebec City, Toronto, Vancouver and Fort Lauderdale), Vacances Air Transat (France), Nolitour (Montreal) and Regent Holidays (Toronto) as well as the Tourbec travel agency chain. Transat A.T. Inc. holds an interest in tour operators Look Voyages (98%), Brok’Air (39%) and World of Vacations (35%), and in Consultour/Club Voyages, a travel agency franchise group (50%), as well as in Services Haycot (50%), an airport handling services company. Vacances Air Transat holds a 66.7% interest in the incoming tour operator DMC Transat and Look Voyages owns 49.6% of STAR Airlines.