1. Talking of Competition April, 2004

2. 2 Perceived $5 pricing has many hidden extras – Assisted: domestic ($20), international ($30) – Changes after departure ($20 plus airline fee) – Loading negotiated rates ($500 per contract); Profile set up ($2 per profile) Primarily a consumer tool repurposed for corporate marketplace – Lacks features (e.g. can't inhibit displaying out-of-policy data or inhibit vendors) – Competes with consumer side for resources – Consumer style marketing tactics (cookies, pop-ups) inherent in site infrastructure Can it represent and protect your interests? – No control over GDS functionality – Reputation for poor/arrogant supplier relationships – Hotel content focuses on deals strategic to Expedia; Expedia and Hotels.com controlling the market and pricing? Inflexible – All or nothing model – use it like this or else … Microsoft employees use Travelport, NOT Expedia!

3. 3 Airline ownership – Airline owners will ultimately work in the best interest of airlines – Is privacy of your corporate and traveler data protected? Suitable for corporate travel? – No experience in the space – Questionable fulfillment and service solutions; Outsourced customer service – Consumer tool repurposed for corporate marketplace – Will your employees be protected from spam and pop-ups? Survivability? – Rapidly declining inventory status – Questionable if has resources to invest in corporate space – Marginally profitable with questionable business model – Poor relationship with the GDS – Involved in litigation Perceived $5 pricing has many hidden extras – $20 assisted; $500 & up for loading of negotiated contracts – Cost to corporation due to poorly enforced travel policy and lack of meaningful reporting

4. 4 Perceived $5 pricing has many hidden extras – Assisted ($15.95) – Changes after departure ($30 plus airline fee) Uncertain future – Difficulties in technology integration, 3 different code bases – Corporate restructuring, closing of GetThere – Marginally profitable consumer model, money losing corporate model Vertically integrated but fulfillment is still undefined and questionable Considered by many to be a re-branded version of the consumer site Canned Reporting – little if any room for customization

5. 5 Online Agency Pricing Comparison ExpediaOrbitzTravelocity Registration$149No fee Transaction Fee On-line Air Unassisted (domestic & int’l) $5 On-line hotel or car unassisted$0 Assisted - Domestic$20 $15.95 Assisted - International$30$20$15.95 Hotel & Car (w/o air) w/ telephonic support$10$20No fee Fee for Loading Clients’ Negotiated Rates$500$500 and upNot available Changes to Reservation between Departure and Return Date $20 – plus airline feeNo fee – airline fees only $30 plus airline fees Non-Expedia air bookings (I.e. Southwest) $30Southwest not available Voids$0 VIP ServicesAdd $10 to any interaction Not available