ots Ad hoc-Service: i:FAO AG i:FAO Starts Re-Structuring: Spin Off of Divisions cabana and eHotel

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    Frankfurt (ots Ad hoc-Service) - i:FAO Aktiengesellschaft intends to start several steps to restructure itself, so that divisions not belonging to i:FAO's core business can operate independently. The intention is to take these divisions separately to the capital markets in the medium to long term and in turn to make acquisitions in i:FAO's core business field:

    i:FAO is Europe's leading technology company for the development of business travel management software. i:FAO's main product, cytric, is currently in use at more than 270 companies (At June 30, 2000: 273) and will be continually marketed stronger within Germany and in other countries.

    The Executive Managment Board has started preparations to enable i:FAO to concentrate on the development and marketing of software for business travel management:

    The cabana business division will be separated into an especially founded new company, intitially owned by i:FAO at 100%. The new cabana AG will raise additional capital through a venture capital offering. cabana is the leading travel community and counts more than 32.000 members.

    The eHotel division, similarly to cabana not a part of i:FAO's core business, will be separated into a joint venture, a partnership of several companies. i:FAO will presumably own 51% of the new joint venture, which will be formed under participation of leading companies in the hotel industry.

    Both activities should be completed already in October 2000.

    i:FAO is currently in the process, as already published, to acquire 100% of QuixData Systems Inc., San Ramon, California. QuixData is one of three companies worldwide to specialize in the development of data mining software for business travel management.Using the QuixData software, companies can analyze their corporate travel data pre- and post- trip, to identify savings potentials. The QuixData software is indispensably for larger corporations to enable them to steer travel procurement efficiently. The letter of intent was already signed on June 14, 2000. It is anticipated that this transaction will be closed in October 2000.

    The Executive Management Board


    Louis Arnitz i:FAO Aktiengesellschaft Telephone +49 (69) 1530 5500 eMail arnitz@ifao.net

    Additional information, graphics and pictures in high resolution are available in the press area of the i:FAO website at http://www.ifao.net

    Please also visit our new IR page at http://www.ifao.net/ir-eng

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