WTL Waterlogic

RNS Number:9549D
World Travel Holdings PLC
18 November 2002



World Travel Holdings plc ("WTH" or "the Company")

Acquisition and Board Changes



WTH announces that it has today conditionally acquired the whole of the share
capital of Select Line Holidays Limited and Select Travel International Limited
("Select Line").



The initial consideration for the acquisition is the issue of 80 million new
ordinary shares in WTH which will rank pari passu in all respects with the
existing ordinary shares.  Deferred consideration of up to an additional 97
million new ordinary shares may be payable, subject to the achievement of
certain performance criteria.



Select Line is one of the largest promoters of travel through newspaper offers
in Britain, working with national and regional newspapers, providing UK,
European and international breaks, flights and accommodation offers in Europe
and worldwide.   In addition, Select Line offers inbound tour operations through
its Absolutely British and Independently Irish brands.



Select Line has relationships with over 400 independent hotels in the UK and
Europe which the Company intends to add to the data base of over 100,000 hotel
properties worldwide which it recently acquired during the acquisition of
LeisureHunt.Com Limited.  The Directors intend to merge the operations of Select
Line with those of the Company and LeisureHunt and believe that this will
provide the Group with additional incremental cross-selling opportunities and
cost savings.



In the year to 31 March 2002 Select Line Holidays Limited made losses before
taxation of #148,000 on gross bookings of #443,000 and had net assets of
#16,000. In the year to 30 April 2002 Select Travel International Limited made
losses before taxation of #221,000 on gross bookings of  #339,000 and had a
deficiency of net assets of  #136,000.



The acquisition is conditional upon the admission to trading on AIM of the 80
million shares to be issued to the vendors of Select Line on completion (the "
Consideration Shares").  Application for admission to trading on AIM in respect
of these shares will be made today.  The Consideration Shares are to be held,
save for certain limited exceptions, by the sellers for a minimum of six months.



Barrie Anderson, founder and chairman of Select Line, is to be appointed to the
board of the Company.   The directors believe that the merger of Select Line
with LeisureHunt will add significantly to the overall offering of the Group and
the partnership which Select Line has with national and daily newspapers will
significantly benefit the operations of the Group as a whole.



Commenting on the acquisition, John Biles, Chairman of WTH said:



"This further acquisition is another step in the development of WTH and should
further increase the likelihood of the combined business achieving its goal of
profitability in 2003".



Enquiries:


John Biles, Chairman                                        Tel:  020 7456 1351


Appendix:



J. Barrie Anderson aged 63 holds or has held the following directorships within
the past five years:

241 OFFERS LIMITED

2 FOR THE PRICE OF 1 OFFERS LIMITED

TWO FOR ONE OFFERS LIMITED

SELECT GLOBAL LIMITED

SELECT WORLDWIDE LIMITED

SELECT HOTELS LIMITED

SELECT TRAVEL INTERNATIONAL LIMITED

SELECT LINE BREAKS LIMITED

SELECT LINE INTERNATIONAL LIMITED

SELECT LINE LIMITED

SELECT LINE HOLIDAYS LIMITED

A LA CARDE LIMITED

ANDERSON ENTERPRISES LIMITED

ANDERSON ASSOCIATES LIMITED

In addition he was a director of

DRIVEHIRE DIRECT LIMITED which was dissolved on 17 April 2001

ANDERSON ENTERPRISES LMITED which was dissolved on 20 March 1998

ANDERSON ADVERTISING SALES LMITED which was dissolved on 20 March 1998

MINARD LMITED which was dissolved on 19 March 1998

LES ROUTIERS PLC resigned 10 April 2001




There are no other matters that require announcement with regard to these
appointments as detailed under paragraph (f) of Schedule 2 of the AIM Rules,
save as disclosed.







                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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