Acquisition of Djoser

Holidaybreak PLC
23 December 2004



                                HOLIDAYBREAK PLC

                    Acquisition of Djoser BV for €23m (£15.9m)



Holidaybreak, the UK's leading operator of specialist holiday businesses, today
announces that it has reached agreement to acquire the privately owned Dutch
'soft adventure' company Djoser BV (Djoser) for €22.75m (£15.7m). Djoser is the
Netherlands' leading 'soft adventure' holiday operator.

This follows the announcement on 22 December that Holidaybreak had acquired
privately owned Dutch hotel breaks company Business Reservation Centre Holland
Holding BV (BRC) for €33.5m (£23.1m).

In calendar year 2003, Djoser had revenues of €36.5m (£25.2m) and reported a
normalised EBIT of €2.8m (£2.0m). Anticipated 2004 revenues are €37.1m (£25.6m),
with a normalised EBIT of €2.9m (£2.0m). Net assets of Djoser at 31 December
2003 were €1.5m (£1.1m).

The consideration will be paid in cash, using Holidaybreak's existing bank
facilities. The transaction, which is expected to be earnings enhancing for
Holidaybreak in the current financial year (see Note 1), is subject to approval
from the Dutch Merger Authorities (NMa). This is expected early in 2005.

With some 21,000 customers enjoying its small group escorted tours in 85
countries, Djoser is the largest adventure holidays operator in mainland Europe
and is a brand widely recognised by Dutch consumers. The market for unusual and
active holidays has grown rapidly in the Netherlands, as it has in the UK where
Holidaybreak's Explore Worldwide business is market leader. Djoser's products
are distributed direct to its customers, including via an impressive website.
60% of 2004 bookings were made on-line. Founder Herman Van Der Velde will remain
with the business along with his able and experienced management team.

Richard Atkinson, Chief Executive of Holidaybreak, said: 'Djoser is an
impressive business and excellent acquisition for the Holidaybreak Group. It
complements Explore, our existing 'soft adventure' business, and increases our
activities in this rapidly growing sector of the holiday market. There are
exciting opportunities for the two businesses to work together to develop their
products and exploit operational synergies.


This acquisition demonstrates that the Group has the financial strength to
exploit changing market trends by investing in growing sectors and widening our
portfolio of brands whilst continuing to deliver attractive margins and
significant cash.'



Note 1
This statement should not be taken to mean that the earnings per share of
Holidaybreak plc will necessarily match or exceed the historic reported earnings
per share of Holidaybreak plc and no forecast is intended or implied.




Enquiries:

Richard Atkinson / Robert Baddeley       Holidaybreak         [phone]
Craig Breheny                            Brunswick           [phone]




Note to Editors

Holidaybreak (HBR.L) is listed on the London stock market. The UK's leading
operator of specialist holiday businesses, it sold 2.3m holidays in the 12
business months to end-September. Each business is a market leader in its
respective specialist sector of the holiday industry, has multi-channel
distribution and is recognised for providing high standards of product and
service quality.

For more information, please go to www.holidaybreak.co.uk.





                      This information is provided by RNS
            The company news service from the London Stock Exchange