Dutton Associates Announces Investment Opinion: Online Vacation Speculative Buy Rating In Initiating Coverage By Dutton Associates.

EL DORADO HILLS, Calif. -- Dutton Associates initiates coverage of Online Vacation Center Holdings (OTCBB:ONVC) with a Speculative Buy rating and a 12 month price target of $3.25. The 13-page report by Dutton senior analyst Richard W. West, CFA is available at www.jmdutton.com as well as from First Call, Bloomberg, Zacks, Reuters, Knobias, and other leading financial portals.

Online Vacation Center is a relatively new Internet-based seller of Vacation Center packages, focusing its marketing efforts on the upscale, mature traveler. From 2000 until March 2006, Online Vacation Center grew to be one of the country's largest sellers of cruise travel, having sold more than $100 million in cruises and vacation packages to a national data base of Online Vacation Center buyers. It became publicly traded in March 2006, when it then began a disciplined acquisition strategy. With these acquisitions, Online Vacation Center has become a diversified supplier of travel services and does not neatly fall into a single category of Internet travel supplier. Rather, Online Vacation Center is a true holding company that, through its subsidiaries, attacks the Internet travel market from several directions. Online Vacation Center's multi-directional business strategy is grounded on Internet-based travel information, personal-based contact travel service through its call center, and home-based travel agents and consumer travel based publications. The recent six acquisitions were purchased for approximately $3.1 million in cash and stock and added approximately $3.8 million in revenue to Online Vacation Center's core business. We estimate that Online Vacation Center's total revenue for FY2007 could increase to $10.0 million, with estimated net income of approximately $280,000, or $0.01 per diluted share.

About Dutton Associates

Dutton Associates is one of the largest independent investment research firms in the U.S. Its 31 senior analysts are primarily CFAs, and have expertise in many industries. Dutton Associates provides continuing analyst coverage of over 140 enrolled companies, and its research, estimates, and ratings are carried in all the major databases serving institutions and online investors.

The cost of enrollment in our one-year continuing research program is US $35,000 prepaid for 4 Research Reports, typically published quarterly, and requisite Research Notes. Dutton Associates received $35,000 from the Company for 4 Research Reports with coverage commencing on 4/24/2007. We do not accept payment of our fees in company stock. Our principals and analysts are prohibited from owning or trading in securities of covered companies. The views expressed in this research report accurately reflect the analyst's personal views about the subject securities or issuer. Neither the analyst's compensation nor the compensation received by us is in any way related to the specific ratings or views contained in this research report or note. Please read full disclosures and analyst background at www.jmdutton.com before investing.