PEGS Pegasus Solutions (MM)

Kayak.com, the comprehensive travel search site, announced today agreements with hotel information providers Pegasus Solutions and Otedis. Through these deals, the companies will provide real-time rates and availability on Kayak.com directly from the Web sites of more than 10,000 hotels. These groundbreaking agreements mark the first time a travel search engine has integrated results from hotel information providers that enable thousands of hotels to appear in travel search results. "Our agreements with these leading providers reaffirm Kayak.com's commitment to being the consumers' comprehensive source of travel information," said Steve Hafner, Kayak.com CEO and co-founder. "Our Kayak.com users will soon access rates and availability from thousands of independent hotels, many of which are not found on other online travel sites. Suppliers benefit from the qualified traffic Kayak.com is known for which minimizes distribution cost and enables a relationship with the consumer." Hotels represented by Pegasus and Otedis have the option to participate in Kayak.com search results. Hotels already participating in Kayak.com as a result of these partnerships include Morgans Hotel Group, Sutton Place, Kimpton Hotels, Le Meridien Hotels & Resorts, Leading Hotels of the World, and online agencies Opodo and HotelBook. "Pegasus Solutions has always been an innovator in hotel distribution and marketing technology, and our agreement with Kayak.com is another way that Pegasus increases our hotel customers' distribution and exposure to a wide range of consumers," said Bob Boles, chief operating officer of Pegasus Solutions. "Hotels today are encouraging consumers to book directly on their Web sites. They're eager to reach consumers who have embraced travel search, which delivers qualified traffic and high conversion rates on a very cost-effective basis. Our agreement with Kayak.com opens up a new channel for our hotel customers, giving them easy exposure to millions of visitors to Kayak.com." Kayak's Commitment to displaying "Every Hotel on Earth" Kayak.com's booking engine agreements are a key component of Kayak.com's initiative to display "Every Hotel on Earth." The program announced in October is a commitment to display all 300,000 hotels on earth, from a power brand hotel in Times Square to a family-owned guesthouse in Burgundy. In an industry-first, Kayak.com has created a simple and efficient process that allows consumers and hoteliers to add properties directly to Kayak.com. The 'Every Hotel on Earth' program expedites the approval process for adding hotels to the database. Since the October launch, Kayak.com has added more than 18,000 hotels and currently boasts more than 103,000 hotels in the database. About Kayak.com Created by co-founders of Orbitz, Travelocity and Expedia, Kayak.com is a comparison-shopping website that helps consumers make informed decisions in their travel planning. The site, which launched February 7, 2005, offers a comprehensive search engine that scours over 100 online travel sites, providing prices and itineraries for hundreds of airlines, over 103,000 hotels and all leading rental car companies. Kayak.com displays more choices of available itinerary/price combinations than any other travel site, and is the first to integrate consumer and professional reviews and other relevant travel information with real-time prices and availability. Kayak.com's investors include Sequoia Capital, America Online, Inc. and General Catalyst Partners. For more information, please visit www.Kayak.com. About Pegasus Solutions Dallas-based Pegasus Solutions, Inc. (Nasdaq: PEGS) is a global leader in providing technology and services to hotels and travel distributors. Founded in 1989, Pegasus' customers include a majority of the world's travel agencies and more than 60,000 hotel properties around the globe. Pegasus' services include central reservation systems, electronic distribution services, commission processing and payment services, and marketing representation services, including the consumer Web site, www.hotelbook.com(TM). The company's representation services, including Utell by Pegasus(TM) and Unirez by Pegasus(TM), are used by nearly 7,000 member hotels in 140 countries, making Pegasus the hotel industry's largest third-party marketing and reservations provider. For more information, please visit www.pegs.com. About Otedis Initially created as an online catalogue for hotels in France, Italy and Spain, Otedis is today a virtual hotel chain made of 4,000 hotels (2,000 using the real time reservation technology). Otedis consist of three products: Otedis Webres (the real time/online booking engine for web sites), Otedis Call Center (the electronic central reservation system) and Otedis Switch (the electronic distribution of hotel rooms on the Internet). Otedis is owned by Optims, an Amadeus company and the European leader in Information Technology solutions dedicated to the optimization of management methods and revenue in Hospitality, Catering and Tourism. More information about Optims is available at www.optims.com.