Bertelsmann Purchases Remaining Shares Of TRUST International

"Bertelsmann will be able to provide TRUST with its outstanding technology support infrastructure and we are excited that we can now take full advantage of Bertelsmann's offerings," commented Dr. Peter Agel, Managing Director of TRUST. "The enhanced relationship will create synergies across multiple platforms with additional Bertelsmann groups, such as its digital media and distribution divisions. TRUST will also gain a competitive advantage previously non-existent in the travel services industry."

In recent years, TRUST International has developed new alliances in the e-commerce sector, including the development of Internet-based products for the hospitality industry, business traveler and consumer. For example, TRUSTRes provides hotel chains with the ability to manage their own real-time reservation center. connects hundreds of individually run hotels with Internet sites. is a real-time, online Internet/Intranet based booking system for corporations.

In addition to Bertelsmann's enhancement of TRUSTs' products, the new terms of the relationship with SRS WORLDHOTELS will remain consistent with the original service agreement and will become even more dynamic in the years ahead. SRS-WORLDHOTELS, which offers real-time reservations through its Web site, allows users to make reservations at its properties with instant confirmation. "SRS-WORLDHOTELS will concentrate on its core business of sales and marketing, enabling us to expand internationally and invest in global sales," said Reinhard Przybilski, Managing Director of SRS-WORLDHOTELS.

TRUST International is fully-owned by the media giant Bertelsmann. TRUST develops and implements a state-of-the-art central reservation system, providing tailor-made, real-time reservations and global distribution solutions for the hospitality industry. TRUST services provide real-time solutions that seamlessly connect hotels and bookers worldwide, including private label telephone lines, connectivity to all Airline Reservations Systems and to various websites and Internet platforms. TRUST maintains three offices worldwide including the Headquarters in Frankfurt, the Americas office in Orlando, Florida, and a reservations center in Singapore. Among TRUST's clients: some 1,300 hotels at 685 destinations in 95 countries such as SRS-WORLDHOTELS, Four Seasons Hotels & Resorts, Steigenberger Hotels & Resorts, Pan Pacific Hotels & Resorts, Kempinski Hotels & Resorts, Dorint Hotels & Resorts, Mövenpick Hotels & Resorts, Mandarin Oriental Hotel Group, Preferred Hotels & Resorts, Swissôtel, Oberoi Hotels, Astron Hotels, and Small Luxury Hotels of the World.

As the world's most international media enterprise, Bertelsmann commands leading positions in the global media and entertainment industries. The Bertelsmann Group consists of publishing and music companies, book and music clubs, magazines and newspapers, television and radio stations, print and media service providers, multimedia and professional information companies represented by such brands as Random House, BMG, Gruner + Jahr and RTL. Bertelsmann is the world's largest general-interest publisher and the biggest English-language publishing house worldwide. Bertelsmann book and music clubs are number one worldwide. Through RTL Group and Gruner + Jahr, the company ranks first in the European broadcasting and magazine sectors, respectively. Bertelsmann is the worldwide leading media company in the internet, and top ranking in its peer market in e-commerce with BOL in Europe and in the US. The organization currently employs 76,000 people in 54 countries and posted 32,4 billion DM in total revenues in the 1999/00 financial year ended June 30, 2000.