ots Ad hoc-Service: i:FAO AG i:FAO Completes Investment in American i-tinerary.com

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    Frankfurt/Main (ots Ad hoc-Service) -    

    i:FAO Aktiengesellschaft has, on August 28, 2000, acquired approximately 15% of the shares of i-tinerary.com, Scottsdale, Arizona, USA . The increase of i-tinerary.com's capital will be used to develop new technologies for wireless devices . Louis Arnitz will take a seat on i-tinerary.com's Board of Directors . i:FAO signs multi year license agreement for cytric . i:FAO acquires long term rights to use i-tinerary.com's US patent.

    i-tinerary.com is a provider of intelligent travel management solutions for small and medium sized enterprises. New is the concept to make business travel bookings via the Internet much easier as currently possible. i-tinerary.com offers complete integration of the travel reservation with any calendar software (e.g. Microsoft Outlook) in place and uses proprietary technology with artificial intelligence, to make sure that personal preferences of every traveler are considered. i-tinerary.com offers reservations via WAP, PDA and various wireless devices as well as via the Internet, thereby redefining travel procurement for unmanaged business travelers and small to midsize corporations. http://www.i-tinerary.com/

    i:FAO Aktiengesellschaft's cytric software will be used as i-tinerary.com's reservation and travel management system with immediate effect.

    By buying into i-tinerary.com, i:FAO further increases its leadership as software developer for business travel management software. This is further undermined by i:FAO's acquisition of QuixData Systems Inc., San Ramon, California in July 2000 and QuixData's merger with i:FAO of North America, Inc. which is currently undertaken.

    As also published i:FAO furthermore plans to separate it's cabana business division into an especially founded new company, intitially owned by i:FAO at 100%, as well as to separate the eHotel division, similarly to cabana not a part of i:FAO's core business, into a joint venture, a partnership of several companies.

    These activities should be completed already in October 2000.

    cytric(r) by i:FAO Aktiengesellschaft is market leader for neutral, worldwide available business travel management software.

    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

    Please pay attention to the change of i:FAO's WKN code because of the transition to registered shares in July 2000: WKN 622452.

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