Georges Vacher appointed President and Chief Executive Officer of DMC Transat

Montreal, March 5, 1999

The Chairman of DMC Transat, Mr. Philippe Sureau, is pleased to announce the appointment of Mr. Georges Vacher to the position of President and Chief Executive Officer of DMC Transat, one of the largest incoming tour operators in Canada.

“The nomination of Georges Vacher is part of the company’s intentions to pursue its growth in the Canadian and European incoming tour operator markets. His distinctive qualities as an administrator, his vast experience within Transat A.T. Inc., as well as his deep understanding of the travel and tourism industry, will surely contribute to achieving our goal”, said Mr. Sureau. Until his appointment, Mr. Vacher was Vice-president, Finance and Administration at Air Transat Holidays.

Over the past 15 years, Mr. Vacher, a chartered accountant, held various functions in finance and administration within Transat’s subsidiaries. DMC Transat activities cover two different market segments. On the one hand, there is leisure travel (traditional, discovery, and adventure tourism) for groups or individuals visiting Canada. These products are sold by, among others, French, British, German, and Scandinavian tour operators. On the other hand, there is business travel, particularly incentive travel, special events, meetings, and conferences, for clients coming from the United States, and, to a lesser extent, from Europe. The Kilomètre Voyages division provides packages for Quebec and North America to Quebeckers and to travellers who are passing through.

Transat A.T. Inc., leader of the Canadian travel and tourism industry, is a public corporation listed on the Montreal Stock Exchange and the Toronto Stock Exchange. 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 (Montréal, Québec 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 interests 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.