Cheapflights concludes strategic options review

Cheapflights Ltd. ("Cheapflights" or "the Company"), a leading UK and North American internet media travel company providing online flight price search and comparison announces that it has concluded its strategic review which commenced in May 2007. Shareholders have decided that, in view of prevailing sentiment in the financial markets, Cheapflights will not proceed with a liquidity event until such time as market conditions change.

The review was intended to provide shareholders with alternatives to obtain a return on their original investment. These included an assessment of the relative attractiveness of a strategic partnership, an IPO or a private equity investment.

Non-executive Chairman, John Clare commented: "While we have considered some attractive alternatives over the past year, in the light of the contrast between financial market conditions and our Company’s continuing strong momentum, we have decided to conclude our process for the time-being. Our investors remain strongly committed to the business and firmly believe the best is ahead of us.”

CEO Chris Cuddy added: "We are very encouraged by Cheapflights' recent success in both the UK and North America and the prospects for continued rapid and profitable growth. Our plans are to continue with our substantial investment in technology as well as to roll out internationally. Cheapflights' database of flight deals has proven benefits both for consumers seeking bargains and for travel advertisers who want qualified leads. These benefits are especially pronounced in challenging economic times when value for money has become even more important.”

Notes to Editors

CheapflightsLtd.: www.cheapflights.co.uk was launched in 1996. It pioneered the concept of online flight price search and comparison and has been consistently profitable since launch. It was the first UK dotcom to introduce pay-per-click in 2000, which helped to transform online advertising. Cheapflights publishes flight deals from airlines, budget airlines, online travel agents and the long tail of other specialist flight deal providers. Cheapflights therefore provides consumers with rapid, easy-to-use comparisons of about one million flight deals daily from the broadest online selection of travel operators. The site is valued by travel industry advertisers as a neutral, high-traffic source of quality high-conversion consumer leads. It launched its US site www.cheapflights.com in May 2003, which has grown rapidly and which now provides half of Cheapflights' millions of monthly visits by consumers. Its Canadian site www.cheapflights.ca which was soft launched in April 2007 is already enjoying traffic of more than 180,000 monthly visits. Cheapflights' status as an independent online travel price search and comparison and travel news site makes it a natural starting point for finding travel deals and up-to-date travel industry information on both sides of the Atlantic.