Web Reservations International

(WRI) was awarded second place
at the Deloitte Technology Fast 50 Awards ceremony held in the Guinness
Storehouse, Dublin on October 16th, 2003.
These awards recognise the fastest growing technology companies in
Ireland, both north and south, and are based on revenue growth over the
period 2000 to 2002. To qualify for the competition, all companies have to
be in business for a minimum of three years.

WRI, a provider of online reservations technology for the budget
traveller, was founded in 1999 by Ray Nolan and Tom Kennedy. It achieved a
revenue growth rate of 1,436 per cent over the three year period. This
compares to an average growth of 269% across the top 50 companies.

This is the fourth year of the awards and announcing the winners, David
O’Flanagan, Partner with Deloitte, Dublin said: “The Fast 50 programme has
always been a reliable indicator of whether innovation is leading to more
growth and wealth creation. These companies have demonstrated how to
survive and thrive in today’s market by helping their customers reduce
their costs and improve their performance”.

Speaking after the awards, Ray Nolan, CEO said: “This award reflects
revenue growth, but here at WRI we have always focused, not just on
growing revenues, but on growing profits. WRI from the outset has been
doing what dotcom companies originally set out to do—to utilise
technology to rapidly grow their business.”

Nolan and Kennedy also won the Ernst & Young Emerging Entrepreneur of the
Year Award which was announced last month.
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