ots Ad hoc-Service: i:FAO AG i:FAO separates cabana - The Travel Community - into a new company

Ad hoc-announcement edited and sent by DGAP. The sender is solely responsible for the contents of this announcement. -----------------------------------------------------

    Frankfurt (ots Ad hoc-Service) - i:PAO Aktiengesellschaft has, effective on December 19, 2000, separated it's cabana (The Travel Community) unit into the cabana GmbH. The new cabana GmbH is a joint venture between i:FAO Aktiengesellschaft and Travix GmbH to operate travel related web sites. The new company combines the strength of both founding partners and will be resposible to managein total nine web sites.

    i:FAO thereby consistently continues its strategy to position the company as a pure software developer with the two core products cytric and quixdata. cytric and quixdata are best-of-class solutions for e-prucurement and information management in business travel. i:FAO's cytric is already the European market leader and services more than 446 corporations as of September 30, 2000.

    The cabana GmbH, located in 56154 Buchholz, Germany, will be owned by Travix at 51% and by i:FAO at 49%. Thorsten Blum and Friedhelm Meinass are the designated managing directors of the new company, which will manage operations of the www.business-class.de, www.cabana.de, www.Flugzentrale.de, www.internet-reisebuero.de, www,irland-infos.de, www.irland.de, www.reiseservice.de, www.reisevideos.de, www,urlaubskataloge.de and www.welt-weit-weg.de web sites in close cooperation with the founding partner companies, cabana has a software license agreement with i:FAO's cytric and a fulfillment agreement with i:FAO OFS, also a lease agreement for the use of the URL urlaubskataloge.de with Travix as well as cooperation agreement with Travix about free banner advertisement placements on www.suchmaschine.de .


    Louis Arnitz i:FAO Aktiengsesellschaft Telephone +49 (69) 7680-5500 eMail: arnitz@ifao.net

    Friedhelm Meinaß Travix GmbH Telephone+49 (6161) 912 029 eMail: f.meinass@t-online.de

    Thorsten Blum Travix GmbH Telephone +49 (6742) 805 580 eMail tblum@travix.de

    i:FAO Aktiengesellschaft: Detailed information for investors is available on the Internet at http://www.ifao.net/ir , additional information graphic files and pictures in high resolution are available in the press area of the i:FAO website at http://www.ifao.net

    Please pay attention to the new WKN 622 452 of i:FAO Aktiengesellschaft.

    End of message ----------------------------------------------------- Internet: http://recherche.newsaktuell.de

Original-Content von: i:FAO AG, übermittelt durch news aktuell

Weitere Meldungen: i:FAO AG

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