9 August 2001
  
   Enquiries


   Adrian Biles Chief Executive Culver Holdings PLC 020 7456 1351

  
                               CULVER HOLDINGS PLC 

   Acquisition of TISS business

   Culver Holdings PLC ("Culver") announces that it has today acquired    Travel
   Information Software Systems Limited ("TISS Limited") from Densey    Investments
   S.A. for a consideration of #350,000 satisfied by the issue of 862,500 new
   ordinary shares of 25p each and #5,000 in cash. TISS Limited owns the
   business previously operated by T.I.S.S. AG Travel Information Software
   Systems and certain of its subsidiary companies together with certain of the
   assets of that business ("TISS"). TISS Limited has net assets of approximately
   #345,000.

   TISS is a travel technology business which has developed a net fare management
   system based on an Oracle database which is used by, amongst others,
   Lufthansa, British Airways, Cathay Pacific and United Airlines.

   Culver intends to merge this business with that of its wholly owned
   subsidiary, Aerotech Europe Limited ("Aerotech"). Aerotech is a provider    of
   travel technology solutions to a wide range of international customers and has
   the exclusive rights to distribute the products of Aerotech Systems Inc in
   Europe, the Middle East and Africa. Aerotech's recent rapid expansion has led
   to the company opening an office in Reading to complement its existing central
   London office and Cardiff data-centre. With the acquisition of the TISS
   technology business and personnel Aerotech will have an established presence
   with a very high quality technical team in the mainland European market, based
   in Frankfurt. The directors of Culver believe that this technology business
   will integrate well with that of Aerotech and enhance both the product
   offering and skillset available to Aerotech and extend the Group's customer
   base.

   In addition, TISS has operated an online travel distribution business since
   1994 which is available in a number of countries and languages, in particular,
   the United States, Germany and the Far East. TISS Limited also owns 75 per
   cent of TISS Inc, a US based air ticket fulfilment agency, the balance of 25
   per cent being owned by a US consolidator. TISS Inc had unaudited net assets
   of $185,000 at 30 June 2001. The Group does not have the infrastructure to
   operate a travel distribution business and has today agreed to sell this
   business together with its 75 per cent interest in TISS Inc to World Travel
   Holdings PLC for a cash consideration related to the sales from that business
   over the next twenty-four months subject to a maximum consideration of #
   625,000.

   The new ordinary shares issued pursuant to the acquisition rank pari passu    in
   all respects with the ordinary shares of 25p each in Culver currently in
   issue. Application has been made to the United Kingdom Listing Authority and
   to the London Stock Exchange for the new ordinary shares issued pursuant to
   the acquisition to be admitted, respectively, to the Official List of the
   United Kingdom Listing Authority and to trading on the London Stock Exchange.
   It is expected that such admissions will become effective on 9 August 2001.

   Commenting on this deal, Adrian Biles, Chief Executive of Culver said: "TISS
   is a well respected name in the travel technology arena with a high quality
   product, reputation and client list. We are very pleased to have the
   opportunity to add the TISS product, its expertise and its customers to ours
   and strengthen both businesses at a modest cost".

   END
 

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