Orbitz Initial Public Offering Priced At $26 Per Share

Orbitz, Inc.
has announced that the initial public offering of 12,180,000 shares of its Class A common stock was priced at $26.00 per share, for a total offering of $316,680,000. Orbitz is an online travel company that enables travelers to search for and purchase a broad array of travel products, including airline tickets, lodging, rental cars, cruises and vacation packages. Of the 12,180,000 shares being offered, the Company is selling 4,000,000 shares and 8,180,000 shares are being sold by certain of the Company’s stockholders. The Company expects the shares to begin trading on the Nasdaq Stock Market’s National Market under the symbol “ORBZ”.

Orbitz expects to use the approximately $93.9 million in net proceeds for working capital and general corporate purposes. The Company will not receive any of the proceeds from the sale of shares of Class A common stock by the selling stockholders. The underwriters also have an option to purchase up to an additional 1,827,000 shares from certain of the selling stockholders.

The offering is being led by Goldman, Sachs & Co. Credit Suisse First Boston LLC is co-lead manager. A copy of the prospectus relating to the offering may be obtained at www.sec.gov or from Goldman, Sachs & Co. at Prospectus Department, 85 Broad Street, New York, N.Y. 10004, or by phone at (212) 902-1171 and Credit Suisse First Boston LLC at Prospectus Department, 11 Madison Avenue, New York, N.Y. 10010, or by phone at (212) 325-2580. Legg Mason Wood Walker, Incorporated and Thomas Weisel Partners LLC are co-managers of this offering.

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission and was declared effective on December 16, 2003. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offer or sale will be made only by means of the written prospectus forming a part of the effective registration statement.