FOR IMMEDIATE RELEASE Contacts: James Forte
--------------------- Vicki Banner
KeatingPR
973-376-9300
[email protected]
[email protected]
TRAVELNOW.COM OFFICERS AND DIRECTORS SIGN STANDSTILL AGREEMENT
--------------------------------------------------------------
SPRINGFIELD, MO, Dec. 18, 2000 - TravelNow.com Inc. ("TravelNow") announced
today that certain of its Board of Directors and officers, who hold
approximately 40% of TravelNow's outstanding common stock, have agreed that,
until at least April 30, 2001, they will not vote in favor of or dispose of
their common stock in any transaction not approved by the Board of Directors of
the Company.
TravelNow previously announced the retention of Legg Mason Wood Walker, Inc. to
assist TravelNow in exploring strategic alternatives, which may include the
possible sale of the Company.
About TravelNow
---------------
Launched in 1995, TravelNow (NasdaqSC: TNOW) was among the first real-time hotel
reservation services on the Internet. TravelNow was the first Internet travel
site to provide consumers with the capability to initiate a wireless hotel
reservation and was ranked #1 for online hotel bookings by Top9.com in October
2000. 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 percent on over 700 hotels in almost every major city and
up to 40 percent on over 7,000 hotels around the world. In addition, TravelNow
facilitates car, air and cruise reservations at www.travelnow.com. For investor
relations or press information please visit http://investor.travelnow.com or
contact James Forte or Vicki Banner at KeatingPR at 973-376-9300.
Information in this press release contains forward-looking statements that
involve risks and uncertainties that might adversely affect the Company's
operating results in the future to a material degree. Such risks and
uncertainties include, without limitation, the ability of the Company to raise
capital to finance the development of its software products, the effectiveness
and the marketability of its services, the ability of the Company to protect its
proprietary information, and the establishment of an efficient corporate
operating structure as the Company grows. These and other risks and
uncertainties are presented in detail in the Company's Form 10-KSB, which was
filed with Securities and Exchange Commission on October 12, 1999. This
information is available from the SEC or the Company.
