TNT Vacations Reaches Agreement to Acquire Magic Carpet Vacations.

Travel Writers

BOSTON--(BUSINESS WIRE)--Aug. 6, 2003

TNT Vacations (TNT) is pleased to announce the expansion of its scheduled air vacation wholesale business with the signing of a purchase and sale agreement to acquire Magic Carpet Vacations. A final closing date is anticipated within the next two weeks.

Magic Carpet Vacations (MCV) is a family owned New England based tour operator that has been sending people on high quality vacations for over 50 years. MCV offers air-inclusive vacation packages to over 40 exciting destinations, including Bermuda, Caribbean, Orlando and MCV's new Elite product offering. Hotel partners include such notable hospitality industry names as Fairmont, Ritz-Carlton, Marriott, Hilton, Westin, Radisson, Hyatt, Ramada, Holiday Inn, Sandals, Wyndham, and SuperClubs. MCV packages include roundtrip air transportation via USAirways, United Airlines, Delta Airlines, Air Jamaica and American Airlines; hotel accommodations across the full spectrum of pricing (budget to ultra-luxury); and destination ground transportation.

This acquisition perfectly fits TNT Vacations' strategy of growing and expanding its presence in the scheduled air vacation packaging business. TNT, with the addition of MCV, will be dramatically expanding destination offerings. MCV brings to TNT new relationships with premier properties in many sunny destinations. TNT Vacations leading-edge database and vacation packaging technology will help to grow the MCV business and travel agents will benefit greatly by the combined strength of the newly expanded company.

Magic Carpet Vacations has become the first option for many travel agencies in the New England region. They have developed a strong following with a reputation for competitive pricing and excellent customer service, a perfect fit for TNT. TNT is a customer focused and employee oriented company dedicated to providing this level of superior service. MCV's well trained and knowledgeable reservations staff and a number of Magic Carpet Vacations travel professionals will be relocating to TNT's headquarters in Boston.

TNT Vacations and MCV are committed to an operationally transparent transition with uninterrupted service. All passengers currently booked with Magic Carpet Vacations will not be affected by this acquisition. For any questions on existing bookings or for new MCV reservations please continue to utilize the Magic Carpet Vacations toll free number, 1-888-767-7155.

We at TNT Vacations would like to thank all of our travel partners for their support of over the past 30 years and would like to welcome all new partners that have supported Magic Carpet Vacations over the past 50 years. Together TNT Vacations and Magic Carpet Vacations will grow and prosper.

About TNT Vacations

About to celebrate its 30th anniversary, Trans National Travel (TNT Vacations) is a privately held company based in Boston, Massachusetts, which was established by Steve Belkin in 1974 to develop and market charter travel vacations. TNT Vacations is a member of Trans National Group Services, LLC.

TNT grew rapidly in the 1970s and the 1980s, further developing and refining its sun and fun destination expertise. In 1991, TNT acquired The Haley Corporation; a wholesaler with over 45 years of experience and with Haley added Bermuda as a destination and began to sell the Caribbean nationwide, via scheduled air. In 1995, TNT Vacations began selling vacation packages nationwide to Costa Rica and Europe (using scheduled-air carriers). In 1999, TNT continued to expand its scheduled-air program to the Caribbean and Mexico allowing year-round Caribbean availability and flexibility from anywhere in the United States utilizing air service from USAirways, American Airlines, Delta Airlines, TACA and Air Jamaica.

With the further development of TNT Vacations website, www.tntvacations.com, the company has put an emphasis on expanding its e-commerce efforts. It is designed as a content-rich website that includes a wealth of information to plan and choose the right vacation package with the ability to book vacation packages on-line.

Over the past 30 years, TNT Vacations has sent more than 2.5 million passengers to the Caribbean and beyond. TNT's longevity and expertise in these destinations translates into quality vacations at true value prices for the consumer. It's buying power with airline and hotel partners results in quality, money-saving packages. TNT currently offers both charter and scheduled air programs to Bermuda, the Caribbean, Mexico and Costa Rica. Each year almost 100,000 passengers travel with TNT Vacations. Over 5000 travel agencies annually purchase a TNT Vacations package for their clients. For more information on TNT Vacations call Doug Frank, Senior Vice President Sales and Marketing at 617-262-9200.