André De Montigny is appointed Vice President, Corporate Development

Montreal, June 27, 2000

Mr. Jean-Marc Eustache, Chairman of the Board and President and Chief Executive Officer of Transat A.T. Inc., is pleased to announce the appointment of Mr. André De Montigny as Vice-President, Corporate Development. The appointment is effective July 24th.

“It is with great pleasure that I welcome Mr. De Montigny to Transat’s management team,” stated Mr. Eustache. “As Vice-President, Corporate Development, his primary responsibility will be to develop and implement Transat’s acquisition and partnership strategy for the United States and for Europe,” he explained. “At the same time, his expertise will strengthen Transat’s leadership position in markets of the holiday travel industry where it is already present,” he concluded.

Prior to joining Transat, André De Montigny was Vice-President, Telecommunications at Capital Telecommunications CDPQ, a subsidiary of the Caisse de dépôt et placement du Québec. From 1996 to 1998, he was Vice-President, Business Development at Vidéotron ltée. Prior to that, he held various positions at Teleglobe Canada, including that of Director, Business Development.

Mr. De Montigny holds a bachelor’s and master’s degree in economics from the Université de Montreal. He also holds an MBA from the École des Hautes Études Commerciales.

Transat A.T. Inc., the leader in the Canadian tourism industry, is a public corporation listed on the Toronto Stock Exchange. Through its subsidiaries and affiliated companies, it is active in all aspects of the organization and distribution of travel services as well as in air transportation.

Air Transat is an air carrier and is a wholly owned subsidiary, as are Air Transat Holidays (Montreal, Quebec City, Toronto, Vancouver, and Fort Lauderdale); Vacances Air Transat (France); Brok’Air/Anyway (France); Voyages Nolitour (Montreal); and Regent Holidays (Toronto), which are tour operators; Tourbec, a travel agency chain; Consultour/Club Voyages, a travel agency franchisor; Handlex, an airport groundhandling service company; Exit Travel, in retail e-commerce; and Cameleon, a hotel management company.

Transat A.T. Inc. holds an interest in tour operators Look Voyages (98%) and World of Vacations (35%). In addition, Air Transat Holidays holds an interest in the incoming tour operator DMC Transat (66.7%), while Look Voyages holds an interest in STAR Airlines (49.6%).