Oz Tourism And Education Group Announces NZ Plans

MEDIA RELEASE

Australian Tourism And Education Group Announces Major Expansion Plans in New Zealand

Auckland, November 3, 2005 - One of Australia’s largest tourism, hospitality and education operators, Touraust Corporation Ltd, today announced a major expansion of its activities in New Zealand.

The announcement of its expansion plans coincide with Touraust’s International College of Management (ICMS) signing a strategic alliance with the new Queenstown Resort College (QRC).

The strategic alliance will see ICMS deliver from 2006 its award-winning hospitality management study programs, in association with the prestigious “Cesar Ritz” colleges of Switzerland and Macquarie University in Sydney to the Queenstown college.

ICMS was the winner of the 2004-2005 Australian Tourism Award for Excellence in Tourism Education and Training and is the largest private residential tourism college in the southern hemisphere.

Touraust is keen to expand the range of colleges using ICMS’s programs, including business studies,
retail and property management, across New Zealand.

New Zealand-born Darryl Courtney-O’Connor, Executive Chairman and Founder of ICMS, said, “Our expansion of educational services to New Zealand is the first of several important expansion announcements we plan to make in the near future.

“Education is one of the world’s fastest growing export earners and we believe New Zealand can become a major tourism hub for students from around the world, as it is a world-renowned tourism destination, as well as being a cost-effective and secure country”, he added.

Meanwhile Touraust’s Constellation Hotel Group and its Country Comfort, The Chifley and Australis resort and hotel brands, are looking to expand to New Zealand through hotel acquisitions, joint ventures, franchising and management agreements.

The Constellation Hotel Group stable in Australia now totals 36 hotels - including 25 Country Comfort, six
Chifley, four Australis Resorts and backpacker hotel, Footprints Westend in Sydney.

Touraust is rapidly expanding the number of its hotels under franchise and management agreements and Mr Courtney-O’Connor said the group was already in discussions with a range of New Zealand hotel owners,
operators and managers with a view to working together in the future.

Mr Courtney-O’Connor, said “All of our franchised and managed hotels have experienced strong growth in occupancy levels and financial returns since joining our program and we expect that New Zealand hotels will
Be keen to tap into our proven franchise system to gain a greater share of the tourism dollar.

“We are keen to talk to property owners and operators about helping them lift their hotels’ performances,
while seeking to help them expand across the Tasman if they desire”, he concluded.

ENDS

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