PRESS RELEASES

07.05.03

WorldBy.Com becomes a Public Company [Società per Azioni]

Florence, Italy May 7 2003 - From today WorldBy.Com, the successful online Tour Operator based in Florence, will be a Società per Azioni (the equivalent of an English Plc.). This step is a natural progression in the development of the company which has rapidly established itself among the leading online tour operators in Italy and Europe with continued growth in spite of the general recession the travel sector is experiencing worldwide.

Managing Director, Stefano Galastri, says “This does not spell any changes in the management, activities and assets of the company, and neither in quotation on the stock exchange. The classification, S.p.A for us is the feather in our cap of continuing success.”

“The initials S.p.A. signify the progress of the company since its inception, progress that has continued solidly even into the first five months of 2003, in spite of the international crisis in tourism after September 11, the war in Iraq, and recently SARS.”

The Società per Azioni guarantees more transparency of management, and more security for WorldBy.Com’s partners and business associates, and of course their customers. It is representative of a financial soundness that is based on constant progress, that has never been supported by external investment as our competitors have enjoyed, but solely on capital generated from the successful management our core business over the internet.

Notes for editors:

1. WorldBy.Com S.p.A. is an authorised Tour Operator in accordance with Italian and European law. [S.p.A is equivalent to a British Plc]

2. Through 19 online publications WorldBy.Com offers a complete service for secure online booking for holiday and business accommodation at selected properties in Europe.

3. Top line figures:
- more than 7 million page views a month
- expected gross bookings for 2006: 35 million Dollars
- 100,000 unique reservations a year
- more than 5,000 Hotels & Resorts All on direct contracts
- Average of 34 large size photos and 10 webpages of descriptions per Hotel (180,000 photographs online, Sept. 2006 figures)
- Yearly growth: 1,500 new affiliated Properties every year
- Financial debts and passive interests: ZERO every year, since the incorporation

4. Partner Enquires contact the Business Development Team
Email: partners@worldby.com
Tel: +39 0571 537024
Fax: +39 02 700 510 425

5. Press Enquiries contact:
Lorella Martini
Email: media@worldby.com
Tel: +39 0571 537024
Fax: +39 02 700 510 425

6. WorldBy.Com Publications:
www.Tuscany.Net
www.FlorenceBy.Com
www.VeniceBy.Com
www.RomeBy.Com
www.ItalyBy.Com
www.ParisBy.Com
www.LondonBy.Com
www.AmsterdamBy.Com
www.RivieraBy.Com
www.ScotlandBy.Com
www.IrelandBy.Com
www.BarcelonaBy.Com
www.FranceBy.Com
www.SpainBy.Com
www.PragueBy.Com
www.ViennaBy.Com
www.BudapestBy.Com
www.AlpsBy.Com
www.EuropeBy.Com