AGM Statement

Online Travel Corporation PLC
15 March 2001

For Immediate Release:

15 March 2001



                        Online Travel Corporation Plc



                  AGM Statement and Positive Trading Update



(Announcement of positive cash-flow position )



London, UK:  Online Travel Corporation Plc ('OTC'), the travel technology and
distribution company, announces that all resolutions were duly passed at its
Annual General Meeting held today and that it has reached a cash positive
position from operations.



Tommaso Zanzotto, Chairman of OTC, commented



'Our growth has continued to accelerate since the year end and we have
achieved positive cash-flow from operations in both January and February.
This gives us a solid foundation to take our business to the next stage of
development.'



Mark Jones, CEO, added:



'Achieving positive cash-flow from operations is the first of many milestones
we have set ourselves and we expect profitability to follow. Growth in our
business is in line with expectations, and in January alone unique users
exceeded 530,000 with gross sales in the month of over £4.5m.  We are also
pleased to report that our technology developments have allowed us to focus on
reducing our cost base.



'OTC's turn-key travel proposition allows any customer driven business to
leverage their brand and offer travel services to their customers whilst using
OTC technology.  Our investment in technology and infrastructure over the last
12 months that has considerably strengthened this proposition. Since the
year-end we have enhanced relationships with Freeserve, BT, LineOne and
Virgin.net and have launched new services for Expedia.co.uk and
Telegraph.co.uk.



'In the next quarter we are confident of   positive news-flow  with more
customers in the telecoms, retail, media and financial services sectors.  This
will contribute to the ongoing growth of our European business, we have some
exciting opportunities to expand overseas and become a global travel enabler.
We look forward to keeping our shareholders up to date with our progress.'



                                   - ENDS -





For further information, please contact:



OTC
                                            Tel: [phone]

Mark Jones, Chief Executive Officer

Robert Falkner, Finance Director



Buchanan Communications                     Tel: [phone]

Nicola How / Isabel Petre



Noble & Company Limited                     Tel: [phone]

Chris Barker