WTL Waterlogic

RNS Number:3599N
Culver Holdings PLC
19 November 2001

FOR IMMEDIATE RELEASE



                             CULVER HOLDINGS PLC

                     Disposal of Aerotech Europe Limited

Culver Holdings plc, the South Wales based business development group today
announces the conditional disposal of Aerotech Europe Limited ("ATE").

ATE's business is the development, supply and support of software products for
the global airline and travel industries. Customers include travel
distribution businesses including World Travel Holdings plc ("WTH"), Global
Distribution Systems ("GDSs") and airlines.

The principal source of revenue for the ATE business has been the supply of
development and support services to WTH, formerly one of the Company's
subsdiaries and which, following its demerger from the Company in 2000, has a
large number of shareholders in common. It is unlikely that this source of
revenue would continue at its historic level in the current trading
environment and ATE has been taking steps to increase the level of its revenue
deriving from customers other than WTH while expanding the range of products
it offers by market sector and geographical location.

Notwithstanding the separation of ownership of the technology and the products
it delivers effected by the demerger of WTH, ATE has had to work very closely
with WTH. This has inevitably led to some confusion for customers of ATE, some
potential conflicts of interests and a lack of clarity over the ownership of
intellectual property. This has been inconvenient for both companies and may
have meant that both the Culver and WTH groups have lost some opportunities.

It has therefore been agreed that WTH should acquire the whole of the
Company's travel technology business.   The Company has also undertaken that,
for a period of at least three years, it will not seek to trade in travel
technology.

The consideration for the disposal of ATE is #635,000 (representing net asset
value as at 1 October 2001) to be satisfied by the issue by WTH to the Company
of 25.4 million new ordinary 1p shares of WTH. The Company has undertaken not
to sell any of these shares for a period of three years without the consent of
WTH and its nominated adviser.  ATE started trading in August 2001 acquiring
various group businesses.  As a result of the way the business has developed
in different parts of the group it is not possible to provide meaningful
trading results for the businesses now aggregated in ATE.

Commenting on the disposal, Adrian Biles, Chief Executive of the Company said:

"We are very pleased to be retaining an interest in this travel technology
business through our increased shareholding in World Travel Holdings plc.  We
believe that the business of ATE will prosper in its new environment.  Culver
will now be concentrating on its insurance broking, investment advisory, media
and technology businesses.  These businesses are developing well and we
believe have excellent prospects for the future."



19 November 2001



Enquiries:

Adrian Biles 020 7456 1351

Chief Executive

Culver Holdings plc

adrian.biles@culver-holdings.com

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