Kuoni continues to grow

Income statement 1.1 - 30.9.07 1.1 - 30.9.06 Change in % in CHF million Turnover 3 515 3 062 +14.8 Gross profit 756.6 649.6 +16.5 Gross profit margin (%) 21.5 21.2 Earnings before interest and 103.5 88.3 +17.2 taxes (EBIT) EBIT margin (%) 2.9 2.9 Net result 99.2 86.7 +14.4 Free cash flow 218.1 177.4 +22.9 The Kuoni Group's total turnover for the first nine months of 2007 was a 14.8% improvement on the same period last year. Organic growth accounted for 4.9 percentage points of this turnover increase. EBIT for the period showed even greater growth of 17.2%. Free cash flow stood at a record CHF 218.1 million. Strategic Business Units Asia & Destination Management and Scandinavia posted excellent results for the period, while Strategic Business Unit Europe delivered an encouraging performance. Kuoni Switzerland saw the launch of a restructuring programme to raise its currently-weak margin performance. At Kuoni UK, the new management is now in place and is currently devising the actions required to bring the unit back onto a successful track. The Kuoni Group further expanded its strong position in the specialist segment through the acquisitions of CV Travel (UK), Les Ateliers du Voyage (France) and UTE Megapolus (Russia), while the acquisition of Denmark-based tour operator Falk Lauritsen Rejser A/S strengthened Kuoni's position in the Danish travel market. The structural adjustments announced under the present corporate transformation are proceeding according to plan. From its current perspective, the Kuoni Group expects to post turnover of more than CHF 4.5 billion and an EBIT of more than CHF 130 million for 2007 as a whole. _______________________________________ Further information: Laurence Bienz Head of Investor Relations Kuoni Travel Holding Ltd. Neue Hard 7 CH-8010 Zurich Phone +41 44 277 4529 Fax +41 44 277 4031 Email laurence.bienz@kuoni.com