Media Release
Shareholder Update
29th June 2000
Dear Shareholder,
In early July, your company enters the next stage of its exciting development with the introduction of what we consider to be the most advanced travel booking 'engine' available on the Internet. Developed over the last six months in collaboration with Atlas Travel Technologies (a joint venture company between Amadeus in Europe and Telstra), the new engine provides a substantially enhanced customer interface with full multi-stop itinerary capability.
It will cement your company's position of innovation and leadership.
At the same time, Webjet will be moving into the next phase of our highly successful media marketing campaign. Our July advertising will bring together all of the special features introduced since our 'commercial launch' in April, and will highlight:
Websure
Webcam
The new booking engine
And, of course, our great Hot Deals flying Qantas.
Webjet's foundation for these new initiatives is very strong. We have approximately $5.00 million in cash, no debt, and a business plan where expenditure over the next two years will be well contained, and in fact less than anticipated in our Prospectus. Cash reserves are ample for your company to pursue its business objectives and build on the base of April, May, and June, which have seen:
A consistent outranking of all competitors in internet site activity. In fact on some occasions Webjet has outranked even Qantas! (1).
A strong increase in quoting, enquiries and bookings to the extent that the Quarter's bookings are already at a level which gives us high confidence that our budget will be achieved for the financial year 2000-2001.
Your company is also exploring a range of international alliance options to build on our foundation Australian market associations, which include:
ISIS
Maxishop
Primus
CGU Insurance
ANZ for trip finance
Moneyshop
NG Travel for meetings, Incentives and groups
Our business plan for the next year is likely to see the benefits of these associations translated into a range of special marketing initiatives which will further underpin our growth.
As you know, Webjet has also introduced a special Shareholder Benefit Program and we encourage you as owners to take full advantage of your company's services and the special Shareholder benefits which include free domestic cancellation insurance and double Webjet loyalty points.
We are also pleased to advise, as already advised to the market, that your company's Board has now been reorganised in a way which we consider will provide the focus and expertise necessary for our company's development as a true commercial enterprise committed to establishing enduring shareholder value.
The board is now comprised of:
Allan Nahum Chairman
Dr Ben Lochtenberg Vice Chairman
David Clarke Managing Director
John Lemish Operations Director
Steven Scheuer Director
Ian Murray, previously chairman of Roper River Resources, has now resigned from the Board, and we particularly acknowledge his assistance in the transition period.
Regards,
David Clarke
Managing Director
(1) Indicative as measured by Sinewave Interactive:
12.04.00 Number One
04.05.00 Number Three
17.05.00 Number One
04.06.00 Number Three
11.06.00 Number One