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09.08.2006 – 20:06


euro adhoc: TUI AG
Earnings Forecast
TUI AG: TUI releases key figures for the 2nd quarter 2006 and changes forecast for the shipping division in 2006

--------------------------------------------------------------------------------   Disclosure announcement transmitted by euro adhoc.   The issuer is responsible for the content of this announcement. --------------------------------------------------------------------------------


Hanover, 9 August 2006  Key figures for the 2nd quarter 2006 The TUI Group has increased turnover by the continuing operations to 5.3 billion euros (previous year 4.3 billion euros) in the second quarter 2006. Earnings by the continuing operations (EBITA) dropped to 89 million euros (previous year 204 million euros). Whilst the tourism division improved earnings to 152 million euros (previous year 116 million euros), earnings at the shipping division were significantly lower than expected at -41 million euros (previous year 91 million euros). This development was due to the expected one-off costs for the integration of CP Ships into Hapag-Lloyd as well as lower freight rates and oil price-induced higher costs which could not be offset by an increase in transport volumes.

Change of forecast for the shipping division in 2006 As the aspired increase of freight rates in the second quarter and in July 2006 could not fully be realised, the aggravated cost situation will also negatively impact earnings in the second half of the year, in particular due to higher bunker costs and the cost of land-based transport. Therefore, TUI now expects the shipping division to undercut significantly the high earnings levels of the previous year. From today’s perspective, given the current external framework the shipping division is still expected to generate positive earnings despite high one-off integration costs.

In tourism it is still expected that earnings for the financial year 2006 will be higher year-on-year. This also applies even excluding the effect of the positive gain from the disposal of the business travel activities.

Overall, earnings (EBITA) for the continuing operations (tourism, shipping and central operations) in 2006 are expected to decline year-on-year.

TUI will publish detailed information on the earnings report for the first half-year 2006 on 10 August 2006. The report will be available at from 08:00 a.m. CEST onwards.

Address: TUI AG Karl-Wiechert-Allee 4 30625 Hanover Germany

List of stock exchanges: Berlin/Bremen, Düsseldorf, Frankfurt, Hamburg, Hannover, München, Stuttgart

ISIN codes: DE000TUAG000 DE0003659884 DE0002913894 XS0191794782 XS0191795672 XS0195307367 DE000TUAG059 XS0237431837 XS0237433700 XS0237435317 XS0237436711

End of ad-hoc notice

If we comment on forecasts or expectations in this announcement or if our statements relate to the future, these statements may be associated with known and unknown risks and uncertainties. Actual outcomes and developments may, therefore, deviate significantly from the expressed expectations and assumptions. In addition, the performance of financial markets and exchange rates as well as national and international law amendments, particularly with regard to tax regulations, may have an influence. Except as provided by law, the company assumes no obligation to update future statements.

end of announcement                                                 euro adhoc 09.08.2006 19:31:12

ots Originaltext: TUI AG
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Further inquiry note:
Björn Beroleit
Investor Relations
Telefon: +49(0)511 566 13 10

Branche: Tourism & Leisure
ISIN:      DE0006952005
WKN:        695200
Index:    DAX, CDAX, HDAX, 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

Original content of: TUI AG, transmitted by news aktuell