Looks To Cut Costs.

19th Nov 2001 inc. released the following Report to Stockholders last week:

Unaudited sales of Travel Club memberships year to date have increased 3% to $14,442,696 CAD versus $14,002,387 for the same period ended November 12, 2000. The number of memberships increased 42% to 14,122 from 9,973 respectively during this time. We continue to make investments in our operating infrastructure and customer service in anticipation of increased travel sales both on and off-line while working within the business environment created by the September 11th attacks on the World Trade Towers. We have begun the process of reviewing the areas of our business where cost reduction opportunities exist and will take the necessary actions to reduce our operating costs.

inTRAVELnet is a rapidly growing leisure travel and information services company seeking to provide service alternatives to the $6.1 billion resort owner market place. Current operations include: a rapidly growing international Travel Club with over 14,000 member families in North America linked to the Company`s network of thousands of participating resorts and other travel service providers; a luxury houseboat Vacation Club providing vacation intervals to its members; and a fleet of luxury houseboats used to service the Vacation Club. common stock is traded on the OTC Bulletin Board under the symbol ITVRF.


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