leisureplanet.com Announces Strategic Shift

The company will seek to significantly lower its running costs through the renegotiation of distribution agreements, creditor renegotiation and other cost cutting measures. In addition, it will concentrate on creating various industry joint ventures to exploit the numerous content and technological assets it possesses so that over time, these joint ventures will further absorb company overhead as well as bring the company to profitability in a shorter period of time.

The company will continue to explore strategic alternatives including finding joint venture partners as well as seeking potential merger partners with interested industry players.

leisureplanet.com operates international travel e-services, develops travel content and provides a range of business services to over 12,000 hotels. leisureplanet.com has deployed its travel services on websites in the U.S.A., Canada, UK, France and Germany, and other international markets. These travel services are also available on websites operated by CNN, Yahoo!, Lycos Europe and .

leisureplanet.comn's hotel services division offers online publishing and distribution to hotels in more 150 countries, and facilitates delivery of other business services including hotel supplies. leisureplanet.com's travel guides division produces, manages and licenses multi-lingual travel guides, covering more than 180 destinations. leisureplanet.com's travel technology division develops and supports travel technology for the leisureplanet group. Leisureplanet.com is majority owned by Leisureplanet Holdings Ltd. LPHL, a publicly traded company. leisureplanet.com's minority shareholders include Europ@Web and CNN.