Transat A.T. Inc., which owns 100% of air carrier Air Transat A.T. Inc., advises that it is still in process to establish its non-Canadian ownership level. As of the close of market on Friday, November 19, 2004, statements for approximately 77% of the outstanding Transat common shares had been filed. Transat will disclose the level of its non-Canadian common share ownership as soon as all participants have filed the statement.

As a result of the implementation by Transat of the special share transfer and issuance procedures on November 15, 2004, Transat asked participants, through its transfer agent, Computershare Trust Company of Canada, to complete a statement pursuant to which they certify the number of common shares held on behalf of non-Canadians. Transat has agreed to extend the time limit to Monday, November 29, 2004.

Transat A.T. Inc., with its head office in Montreal, is an integrated company specializing in the organization, marketing, and distribution of holiday travel. The core of its business consists of tour operators in Canada and France. Transat is also involved in air transportation, value-added services at travel destinations, as well as in distribution through travel agency networks. Transat is listed on the Toronto Stock Exchange (TSX:TRZ).