Thomas Cook in Good Position for the Summer of 2008

Thomas Cook’s trading for summer 2008 continues to be strong in all major markets with robust consumer demand as the tour operator reported in its results for the 6 months ended March 31, 2008, while winter 2008/2009 early trading in the UK and Northern Europe is encouraging.

The group currency adjusted pro forma loss from operations for the 6 months to March 2008 reduced to 193.6 million euro (28 percent improvement). Group fuel requirements for remainder of this financial year hedged to 100 percent for crude and 90 percent for jet fuel. Group foreign currency requirements for remainder of year 100 percent hedged.

On track to achieve merger synergies in excess of 200m euro by 2008/09, despite depreciation of Sterling against Euro of 15 percent. Strategic acquisitions of Thomas Cook India, businesses in the Middle East, Hotels4U.com and Elegant Resorts.

Despite the higher cost of fuel and the translation impact of the weakening Sterling, and assuming no further deterioration in the Sterling-Euro exchange rate, the Board remains confident that the business will meet its expectations for the current financial year.