Trade Me To Launch Travel Scheme

Media Release

Friday 20 July 2007

Trade Me To Launch Travel With 1000+ Accommodation Providers

Fairfax Media Eyes Stake in Vianet

Trade Me today confirmed it will launch its new travel website in August with over 1000 accommodation providers already signed up. Trade Me’s owner, Fairfax Media Limited, also plans to take a shareholding in travel partner company, Vianet International, a Keri-Keri based travel software and development company.

“We’re on track for a mid August launch of a site that will grow the number of people taking holidays in New Zealand,” said Trade Me founder and CEO, Sam Morgan.

“With over 1000 accommodation providers already signed up to the service, we are likely to be the largest accommodation website in the country on the day we launch. We also expect substantial growth over the year ahead.”

“The travel site will use a new brand but will be extensively promoted through Trade Me and the wider Fairfax Media network of websites.”

The website will provide Kiwis with a comprehensive marketplace of local accommodation providers with full online booking facilities. There will be no additional charges for consumers and suppliers are only charged if bookings are made. Morgan’s aim is to have the country's most popular travel and accommodation website.

Subject to the outcome of due diligence, Fairfax Media plan to take a 12.5% holding in Vianet on undisclosed financial terms. “Vianet are the sort of fast moving technology company that we love,” Morgan said. “Like us they believe that if you build great websites, customers will tell their friends. The new site is being built on Vianet infrastructure.”

Pending a successful due diligence Trade Me general manager Jon Macdonald will join the Vianet board.

ends.

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