"We've achieved some great successes over the last two years and I'm delighted that Paolo Boni is the man who will lead VFM Interactive and build on those successes going forward," said Agro. "The growth strategies and key business relationships he's cultivated have been critical to VFM Interactive's success to date".

Paolo Boni has provided advisory services to VFM Interactive since August 2001 and was appointed its vice president of corporate development and corporate counsel in June 2002. He has helped formulate the company's strategic direction and has overseen the development of the Company's strategic alliances and partnerships with major hotel and lodging companies, online travel agencies and third party content providers.

"I am thrilled by the challenge and the opportunity of leading VFM Interactive through the next phase of its evolution and growth" said Boni. "We are very fortunate to have all of the ingredients for continued growth and success: great technology and service offerings, great clients and partners, and a great team to capitalize on the business opportunities that arise from them."