FOR IMMEDIATE RELEASE
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CONTACT: Ross Summers James Forte / Vicki Banner
TravelNow.com KeatingPR
(417) 864-3600 x1304 (973) 376-9300
TRAVELNOW.COM COMPLETES REINCORPORATION
IN THE STATE OF DELAWARE
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SPRINGFIELD, MO., October 24, 2000 - Effective October 19, 2000, TravelNow.com
Inc., a Florida corporation (the "Company"), completed the change of its state
of incorporation from Florida to Delaware, by merging with TravelNow.com Inc., a
Delaware corporation (the "Reincorporation").
The Reincorporation, which was approved by the Company's shareholders on
September 26, 2000, is intended to provide the Company the benefits of greater
predictability and flexibility afforded by Delaware's corporate law. The
Reincorporation will not result in any changes in the assets, operations or
management of the Company.
In addition, the Company's shares will continue to trade on The Nasdaq SmallCap
Market under the same trading symbol, 'TNOW'. Certificates currently held by the
Company's shareholders represent ownership of the same number and percentage of
the shares in the Delaware corporation as they had represented in the Florida
corporation prior to the Reincorporation. As a result, shareholders will not
need to turn in their stock certificates for new stock certificates.
About TravelNow
Launched in March, 1995, TravelNow was among the first real-time hotel
reservation services on the Internet. Through its system of affiliates,
TravelNow provides competitive rates for more than 40,000 hotels in 5,000 cities
and 140 countries. The company offers discounts of up to 65% on over 700 hotels
in almost every major city and up to 40% on over 7,000 hotels around the world.
In addition to hotel reservations, car, air, and cruise reservations can also be
arranged at www.travelnow.com.
Information in this press release contains forward-looking statements: These
statements involve risks and uncertainties that could cause actual results to
differ materially. There is no assurance the above-described events will be
completed. There can be no assurance of the ability of the Company to achieve
sales goals, obtain contracts or financing, consummate acquisitions or achieve
profitability in the future. The above and additional factors are discussed in
detail in the Company's filings with the SEC.
