Tenzing Announces More Than $45 Million Funding-to-Date; Cathay Pacific Makes $10 Million Investment in Leading In-Flight Email and Internet Provider.

Business Editors

SEATTLE--(BUSINESS WIRE)--Feb. 12, 2001

Tenzing Communications, Inc., a global communications provider offering frequent business travelers in-flight access to Web content and email, announced a $10 million investment from Taikoo Aviation Technologies Limited, bringing its funding-to-date to more than $45 million.

Taikoo is a subsidiary of Cathay Pacific Airways.

The $10 million investment comes as part of Tenzing's second round of funding. The company previously announced $12 million in funding during its first round, which was led by international telecommunications investment firm Fremont Group. Other investors in the two rounds include leading venture capital and aerospace companies, TH Lee, Riverside Management Group, JGL Investments, Deutsche Bank and ITOCHU Corporation, as well as private shareholders.

"This investment from Taikoo Aviation Technologies is significant in more than simply financial terms," said Alan Pellegrini, chief operating officer of Tenzing. "As with our first round of funding, this investment signals a high-level of confidence in Tenzing and our services from an industry leader that understands our business and target markets: the airlines."

Tenzing's technology enables airline passengers to send and receive e-mail during flight, including on-board access to "Best of Web" content. In addition, Tenzing will offer a business-focused Web portal, future targeted e-commerce services and regular content updates throughout the course of the flight.

"This subsequent investment in the Tenzing company is consistent with our venturing program, a key element of our e-Business strategy. It recognizes that in-flight connectivity for air travelers will become an essential service by leading airlines over the coming decade. Cathay Pacific, through Tenzing, wishes to be at the forefront of this wave of new service offerings," said Ian Riddell, Cathay Pacific's director of information and e-business.

About Tenzing

Tenzing Communications, Inc. is the premier provider of connectivity solutions for the frequent business traveler. Services include in-flight email, terrestrial global roaming capabilities, extensive Web content, a business-focused Web portal, targeted e-commerce services and frequent content updates throughout the traveler's experience. Tenzing is dedicated to the ease of communication for connected travelers, allowing them to use their laptops and existing email addresses for a continual connection to the outside world. The Tenzing system is compatible with PCs and will be available to Mac and Personal Digital Assistant (PDAs) users later in 2001. Tenzing is negotiating with several U.S. and international carriers regarding implementation of the Tenzing Global(TM) system, and will begin full deployment of the Tenzing System on Cathay Pacific Airways in Q301.

Headquartered in downtown Seattle, Tenzing Communications, Inc. is located at 700 5th Avenue, 38th Floor, Seattle, WA 98104-5038 and can be reached by phone at 206/607-2700. More information is available at www.tenzing.com.

About Cathay Pacific Airways

Cathay Pacific Airways is one of Asia's leading airlines and in October 2000 announced plans to invest HK$2 billion (US$250m) on a range of e-business projects. Cathay Pacific's re-launched Web site contains groundbreaking new features such as notiFLY, which alerts passengers on any changes to their flight status, as well as online booking, the world's first comprehensive online check-in, a downloadable trip planner and real-time flight information. Other passenger projects include a range of new e-service tools such as broadband access in airport lounges, wireless access at airport lounges and gates. More information is available at www.cathaypacific.com.