Transat A.T. Inc., (Transat) announces that it will be increasing its interest in World of Vacations (the 'Corporation') in Toronto from 35% to 100% of the capital stock.

To do so, Transat will acquire all of the shares of the company held by its President and Chief Executive Officer, Errol Francis, for a cash consideration calculated in accordance with a method of payment set out in the agreement between the two parties.

The transaction will be completed only once it is approved by the Competition Bureau which has authority over such transactions.

About Transat A.T. Inc.
Transat A.T. Inc., with its head office Montreal (Quebec, Canada), is an integrated company specializing in the organization, marketing, and distribution of holiday travel. The core of its business consists of ten tour operators in Canada and France. Transat is also involved in air transportation, hotel management, and value-added services offered at travel destinations as well as in distribution through both travel agency networks and e-commerce initiatives. Transat A.T. Inc. is a public corporation listed on the Toronto Stock Exchange (TSE:TRZ). In 2000 Transat recorded revenues of $1.9 billion.