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Southern Travel On Track

MEDIA RELEASE
Southern Travel On Track
Auckland, 20 December 2004 –

In response to market interest the Directors of Southern Travel Group have advised that the company is on track to meet its projections for the first reporting period (July – December) since the successful listing on the NZAX on 30 September this year.

Directors said that whilst Australia’s growth was exceptionally strong in both revenue and volume, New Zealand destination from Japan had slowed from the high growth rates earlier in the year. Forward bookings were emphasising the strong seasonal trend towards the New Zealand summer period.

Chairman Ross Keenan said that listing at the end of September shortly after the June 04 Annual Accounts were finalised meant that there was always going to be a gap until the company had available meaningful information and therefore this advice should be treated only as comment on year to date actuals and forecast to December. The company envisaged making a detailed announcement by early March.

The Managing Director Mr Kiyomi Gunji commented he was delighted with achievements being made in Australia and forward projections through the peak summer season for the total market to Australia and New Zealand were encouraging.

ENDS

About Southern Travel Holdings Limited

Southern Travel Holdings is the parent company of leading New Zealand and Australian inbound tour operators, Southern Travelnet Limited (NZ) and Southern Travelnet Pty Ltd (Australia). Southern Travel Holdings and its two subsidiaries arrange customised tour packages (exclusive of international airfares) for all pockets, catering for tourists needs from the time that they arrive at the airport or port, to their departure date.

In New Zealand, the company has around a 20 per cent share of the Japanese inbound tourism market, one of the most lucrative and sought-after inbound markets. Its tours are sold in Japan through Southern’s extensive network of Japanese-based travel wholesalers / agencies.

Southern Travel Holdings senior management includes some of New Zealand’s most experienced inbound tourism market professionals, including Mr Kiyomi Gunji, who has been involved in the industry since1978.

Based in Auckland, Southern employs 75 staff throughout New Zealand, Australia and Japan. Its New Zealand operations provide the majority of the company’s revenue.

ENDS

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