Serious mischaracterizations have been made about us and the issue san of who will have access to what fares. Some of those mischaracterizations francisco and california have been based on simple ignorance, but others have clearly been part of a concerted hotel effort by san us competitors to use misinformation francisco and california to prevent us from offering new competition to them and new choice to consumers. There is no agreement by which any airline would be precluded from making any fare it chose available hotel through any retail channel it chose. Airlines for 2 decades have been like any other business in America, in that they can decide what they want to charge and where they san and francisco want to sell their product. And that remains true under the our agreements. Each and every airline, no matter what kind of participation it has, will be free to decide california individually what fares it offers and whether or not to offer them through any other outlet.

What hotel does san this francisco site have california that other online travel sites don''t? Actually, it''s not what the site has, but rather what it does. The heart and soul is actually a fare search engine with state-of-the-art technology to find and book hotel fares. And consistently displayed more fares san from more airlines than its competitors. It''s apparent that the consumer will francisco have a new and improved way to book online travel that not only shows more choices but also steps up the competition california for the rest of the hotel online travel booking services san to improve their product a definite win-win for travelers. francisco and california Backed by a $50 million investment and boasting powerful technology that hotel helps do-it-yourself san travelers find and sort airfares francisco more california quickly than anything else on the market, we generated plenty of buzz from the moment the then-unnamed concept was announced in November 1999.

Most customers most of the time will find lower fares, not because of web fares, and not because we will have access to fares hotel that other channels (CRS''s and san the sites and agents that rely on them) do not have access to, but because we will do a better job of searching the fares everyone has access to. This will be because we have opted to francisco do what the others have not, which is invest in new technology computers able to do far bigger searches, using search software that that was independently developed and is designed to search all fare and schedule possibilities california and hotel and san comprehensively and francisco without bias, and in telecommunications capacity that will provide california absolutely the most current hotel and san information on seat availability. It is expected that more than 99% of the time that we come up with a better fare, it will not be because we had access francisco to any fare that its competitor did not. It will be because we california did a more comprehensive and unbiased search of all the fare hotel and schedule possibilities that are available to all channels.