Webjet Welcomes Harvey World Travel - Strategic Shareholding Review

Webjet today confirmed it has received advice that Harvey World Travel Limited, which currently owns 19% of Webjet issued shares and has a member authorised approval to exercise growth options to 34% of Webjet's issued share capital, is undertaking a strategic review of its shareholding in Webjet Limited.

Commenting, Webjet Managing Director, David Clarke said: "as the market is aware Webjet has exhibited phenomenal growth over the last twelve months which has in accordance with our market release of 1 September continued into the new financial year. As a consequence of our growth and movement into profitability the market valuation of Webjet Limited as at 1 September is over $80 million.

Webjet enjoys a strong and effective commercial relationship with Harvey World Travel Group Limited and looks forward to the result of the review noting that Webjet's top twenty shareholders as at 29 July accounted for 61% of ordinary shares which, after deducting the Harvey World Travel Group Limited shareholding of 19%, accounts for 42% of our listed ordinary shares.

Directors and management comprise approximately 35 million shares or 15% of total ordinary shares. The Cendant Travel Distribution group through GIW Holdings and Southern Cross Distribution Systems holds an additional 21 million shares representing approximately 9% of ordinary shares.

Details of the top twenty shareholders are covered in precise terms in Webjet's full financial accounts filed with the ASX and are available through Webjet's web site under Investor Relations.