AGM Statement

RNS Number:5602R
World Travel Holdings PLC
31 October 2003



                           World Travel Holdings plc
                       Outcome of Annual General Meeting


Chairman's update

At today's adjourned AGM, John Biles, Chairman, made the following statement:

"I was hoping to be able to report today that we had satisfactorily concluded
negotiations for a transaction that would secure the future of the Company.
Unfortunately earlier this week the Directors of the target company advised us
that they did not intend to proceed with the transaction.

It is clear, therefore, that unless we are able to come to a new agreement with
the Company's creditors involving a mixture of equity for debt swap or further
substantial reduction in creditors claims then the Company will not be able to
continue.

Negotiations are underway with creditors and I expect to know shortly whether
they have been successful.

Shareholders will recall that at the adjourned annual general meeting on 16
October, resolutions 3, 7, 8 and 9 set out in the notice of that meeting were
not considered and the meeting was adjourned until today. These resolutions
relate to the adoption of a new employee share option scheme, a change of the
Company's name, an elimination of the amount standing to the credit of the share
premium account and the acquisition of Wanbase respectively.

I intend to put resolutions 7 and 9, which relate to acquisition and change of
name, to the meeting today although, if approved, the acquisition of Wanbase
will not be completed nor the change of name processed until an accommodation
has been reached with creditors.

If no agreement is reached with creditors then it is the intention of the Board
to invite the secured creditor, Culver, to appoint a Receiver."


Outcome of meeting

Resolutions 7 and 9 set out in the notice of the annual general meeting were
duly passed. These resolutions relate to a change of the Company's name, and the
acquisition of Wanbase respectively.

Contact

John Biles, Chairman 020 7456 1352






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