LastMinuteTravel Announces Successful Institutional Round Led by Libra Securities

LastMinuteTravel today announced the completion of several million dollars
of financing which included participation by several principals of Libra
Securities. LastMinuteTravel.com , the online travel superstore was
founded in 1997, and reorganized by its current CEO and Chairman, Alan
Greenberg, in 2002. Since its reorganization LastMinuteTravel has
successfully shifted the Company’s focus from a purely advertising-based
revenue model, to a model that also includes transactional revenue streams
from the sale of travel products through the Company’s website and private
label brands. Libra Securities’ Travel & Leisure Investment Banking Group’s industry-
leading track record with many of the major online and traditional travel
companies is the main reason we selected them as our financial advisor,”
said Alan Greenberg. “We look forward to working with Libra Securities’
expert team as we continue to execute LastMinuteTravel’s long term
strategic plan,” added Greenberg.

“LastMinuteTravel occupies one of the most vibrant market segments in the
travel industry. Under the direction of its new management team,
LastMinuteTravel is positioning itself to become an established consumer
brand in the online travel space, and a preferred supplier of travel
inventory and technology to complementary websites,” said Alex Picou,
Managing Director, Libra Securities, Travel and Leisure Investment Banking.
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