Announces Executive Promotions

The Board of Directors of
(R) (Nasdaq: PCLN) today announced the promotion of several
executives and corresponding re-alignment of`s operating and
management structure.

Jeffery H. Boyd, former President and Chief Operating Officer, was
named President and Co-Chief Executive Officer. He shares CEO responsibilities
with Chairman Richard S. Braddock. Mr. Boyd joined in 2000 and has
served as the Company`s Chief Operating Officer since October 2000.

Mitch Truwit, former Executive Vice President, Operations, was named as`s new Chief Operating Officer. In addition to naming Mr. Truwit,`s Board restructured the scope of the position so the COO now will
oversee`s airline tickets, rental cars, mortgage and
telecommunications products and operations, as well as customer service, public
relations and`s international initiatives. Mr. Truwit joined in 1999 and also served as Senior Vice President, Corporate

Trey Urbahn, former President of`s airline tickets service, was
named Chairman of`s Travel Services Group, a newly created
position. He will focus on strategic initiatives for the Company`s travel
business, supplier relations and revenue and customer management. Mr. Urbahn
joined in 1998 and also served as Senior Vice President of Revenue
Management. Prior to joining, Mr. Urbahn held marketing and
revenue management positions at Alamo, United Airlines, Northwest Airlines and
US Airways.

Christopher L. Soder, the current President, Lodging, Automotive and Business
Development, also was named today as a Executive Vice President.
He leads`s hotel, vacation package and automotive services, as
well as`s corporate development program. Mr. Soder joined in 2000.


“ has attracted and developed a strong senior management team,
which presents us with this unique opportunity to further strengthen our
management and operating structures from within,” said Mr. Braddock. “This
re-alignment will enable us to more directly address ongoing challenges in the
travel environment and strategically grow our business. I look forward to
working closely with Jeff in our co-CEO roles to chart the future direction of
the Company. Mitch is an experienced manager who has the reporting structure in
place to precisely and effectively impact the business. The new Travel Chairman
position will allow Trey to focus on the strategic positioning of`s travel business from customer, supplier and competitive
perspectives and help develop`s product expansion plans. Chris has
been instrumental in growing our hotel and vacation package businesses and we
expect him to play an even more important role in our future business
initiatives. By making these moves, the Board has insured that has
the right management structure and talent in place to build on`s
position as one of e-commerce`s premier companies.”