1 Agenda ©2007 Expedia, Inc. Confidential & proprietary. All rights reserved. Expedia Overview Private Label Solutions

2 More Transactional Volume Of Users Than Anyone Else Online ©2007 Expedia, Inc. Confidential & proprietary. All rights reserved. A top Global Online Retailer behind eBay, Amazon and Apple; higher traffic than other travel sites Orbitz Travelocity Unique visitors (in millions) Source: comScore Media Metrix, June, 2009 Expedia’s nearest competitors combined Gross Travel Sales was equal to Expedia’s in 2008 Source: Public Earnings Reports and Sabre Holdings published financial statement, March, 2009

3 Industry-Leading Conversion: Higher Conversion Drives Greater Revenue ©2007 Expedia, Inc. Confidential & proprietary. All rights reserved. Source: Compete, Inc. August 2008; Expedia conversion rate index = 100 Expedia regularly beats Travelocity in conversion rates for Hotels and Vacation Packages, which means better monetization of your traffic base Hotel conversion: ~50% better than Travelocity 25% better than Orbitz Packages conversion: Over 3x better than Travelocity ~50% better than Orbitz

4 Best Inventory - Expedia’s Pricing Beats The Market CompetitorBeat RateMeet RateLose Rate Travelocity16%76%8% Orbitz25%68%7% Inventory Monitoring through 3 rd party company, QL2, shows: Travelocity Consistently 10% fewer available hotels than Expedia Orbitz Roughly 15% fewer available hotels than Expedia Source: Expedient Rate Report & QL2 Inventory Report Washington, D.C. and Suburbs ©2007 Expedia, Inc. Confidential & proprietary. All rights reserved.

5 Expedia Awards and Accolades eVOC Insights, May 2009 Consumers Twice as Likely to Favor Expedia Over Competitors May 2009 American Customer Satisfaction Index (ACSI) E-Commerce Report, February 2009 Expedia.com again garnered the highest customer satisfaction ranking among online travel providers. Brand Keys Customer Loyalty and Engagement Index, 2009 Expedia ranked #1 Online Travel Company for the ability to best able to engage consumers and create loyal customers for 3 rd consecutive year Forbes Best of the Web Top Pick for General Travel, 2009 “Best in-depth information about hotels includes 360- degree panoramic views.” ZAGAT’s 2009 Expedia Best Website for Travelers No. 1: Keynote Customer Experience Rankings and Conversion Impact – Air & Lodging, June 2008 “Expedia outpaced the competition based on its continued strong performance across all areas.” Expedia, Inc. July 2009

6 Agenda ©2007 Expedia, Inc. Confidential & proprietary. All rights reserved. Expedia Overview Private Label Solutions

7 Expedia Affiliate Network Partners Include the below and more… Hotel AirDestinationCo-Brand

8 Expedia Private Label Solutions Expedia’s Private Label solutions offer our partners a wide array of products and services Hotel, Airfare, Car, Vacation Packages, Cruises, and Activities Supports both online and offline channels, using fully private labeled customer sales & service handling Available as a Hosted solution or via XML Built on same infrastructure and uses same industry-leading inventory, rates, and availability as core Expedia.com site Ensures our partners and their customers get the same superior travel experience as Expedia’s own customers Robust merchandising tools drive additional customer value and transaction volume Dedicated Account Management support to help launch and grow your business

9 Private Label Solutions Quick and easy implementation We host and maintain your site with your style sheet, headers, footers and branding Customer service and telesales are handled entirely by our trained agents using your branding We help you merchandise and manage your site—using deep- links for search engine optimization and sales reports accessible on our partner extranet site You get Expedia’s award-winning technology and online expertise, with none of the costs associated with development, hosting, customer support, upgrades, or licensing fees You earn revenue for all transactions - When your customers make purchases, you earn a share of the revenue—your income is positive from day one There's no cost to you!

10 Expedia’s Expertise Working With Destination Partners ©2007 Expedia, Inc. Confidential & proprietary. All rights reserved. Private Label Destination partners include: New Orleans CVB NewOrleans.com NewYorkCity.com VisitSanAntonio.com Illinois Bureau of Tourism Columbus CVB Bermuda Dept. of Tourism Maui.net Aruba Tourism Authority Barbados Tourism Authority St. Kitts Tourism Authority Columbus CVB And many more… Additionally, our Media Solutions group works closely with DMOs to create customized marketing programs to promote their destinations across the EI network

11 A True Global Footprint Few online companies can match Expedia’s global presence Established global footprint with significant, ongoing expansion – Expedia – 15 country sites and growing – Hotels.com – 44 country sites and growing – TripAdvisor – 7 country sites and growing – eLong - #2 online travel agency in China (majority controlled by Expedia) #1 or #2 market share in most markets served Local, in-market, Partner Services Group securing rates inventory through personal contact and relationships worldwide Strong coverage with extensive reach in North America and Europe Multiple sites in Asia including Japan (2 nd largest leisure travel market), Australia, New Zealand and India Continued expansion in Asia planned for ’09 and beyond

12 Why Expedia is the Right Partner ©2007 Expedia, Inc. Confidential & proprietary. All rights reserved. Superior Inventory Unmatched scale provides industry leading inventory breadth, availability and pricing Superior customer Experience and UI No. 1: Keynote Customer Experience Rankings in all studies – Air, Car & Lodging, April 2007 Leading Brand in Online Travel Zagat’s “Expedia best website for travelers” Highest Customer Satisfaction Expedia.com earned the highest customer satisfaction ranking among online travel providers -- American Customer Satisfaction Index (ACSI) E-Commerce Report, February 2009 Extensive Experience Over 500 Co-brand and Branded Affiliate Partnerships Industry Leading Conversion Superior Inventory + Superior UI = Superior Customer Satisfaction and Better Monetization WE LOOK FORWARD TO WORKING WITH YOU!!!

13 Contact Information ©2007 Expedia, Inc. Confidential & proprietary. All rights reserved. Barry Landes Business Development Manager Expedia Affiliate Network work cell