Sabre Holdings Increases Quarterly Dividend

SOUTHLAKE, Texas, Jan. 20 /PRNewswire-FirstCall/ — Sabre Holdings Corporation (NYSE: TSG) announced that its Board of Directors has declared a $0.075 dividend for the fourth quarter of 2003. This represents an increase of $0.005 per share, or approximately 7 percent. The dividend is payable on February 17, 2004 to shareholders of record at the close of regular trading on January 30, 2004.

Sabre Holdings began paying a quarterly dividend in April of 2003. If continued quarterly, the $0.075 per share dividend would pay out approximately $42 million per year. It is the company’s intention to pay a comparable quarterly dividend going forward, subject to financial ability and a determination by the Board of Directors that cash dividends continue to be in the best interest of the company and its shareholders.

About Sabre Holdings Corporation

Sabre Holdings, an S&P 500 company, is a world leader in travel commerce, retailing travel products and providing distribution and technology solutions for the travel industry. Sabre Holdings supports travelers, travel agents, corporations and travel suppliers through its companies: Travelocity, Sabre Travel Network, and Sabre Airline Solutions. Headquartered in Southlake, Texas, in the Dallas-Fort Worth Metroplex, the company has approximately 6,000 employees in 45 countries. Full year 2002 revenues totaled $2.06 billion. Sabre Holdings is traded on the New York Stock Exchange under the symbol TSG. More information is available at .

Statements in this release which are not purely historical facts, including statements about possible future dividends, or other statements about anticipations, beliefs, expectations, hopes, intentions or strategies for the future, may be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Readers are cautioned not to place undue reliance on forward-looking statements. All forward-looking statements are based upon information available to Sabre Holdings on the date this release was issued. Sabre Holdings undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Any forward-looking statements involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements, including risks or uncertainties related to Sabre Holdings revenues being highly dependent on the travel and transportation industries; and the possibility of further terrorist attacks, hostilities and war. Sabre Holdings may not succeed in addressing these and other risks. Further information regarding factors that could affect our financial and other results can be found in the risk factors section of our most recent filing on Form 10-Q with the Securities and Exchange Commission.

SOURCE  Sabre Holdings Corporation
    -0-                             01/20/2004
    /CONTACT:  media, Michael Berman, +1-682-605-2397, or investor relations,
Karen Fugate, +1-682-605-2343, both of Sabre Holdings Corporation/
    /Web site: /

CO:  Sabre Holdings Corporation
ST:  Texas

-- DATU029 --
3776 01/20/2004 08:01 EST