Sabre Holdings to Acquire SynXis Corporation to Broaden Hotel Distribution Capabilities

SOUTHLAKE, Texas–(BUSINESS WIRE)–Dec. 9, 2004–Sabre Holdings
Corporation (NYSE:TSG):

    --  Acquisition expected to extend reservation technology used at
        about 6000 hotels

    --  Provides Sabre Holdings with unique role in end-to-end selling
        process from hotels to travelers

In a move to further expand its services to the hotel industry,
Sabre Holdings Corporation (NYSE:TSG) today announced it has reached
an agreement to acquire SynXis Corporation, a privately-held provider
of reservation management, distribution and technology services for

The SynXis reservation system has gained significant marketplace
traction as its hotel base has expanded to about 6,000 hotel
properties. It enables hoteliers and chains to simplify complex tasks
to sell hotel inventory in a multi-channel world. Through the SynXis
system, hotel properties are able to seamlessly sell through global
distribution systems (GDSs), including the Sabre GDS, as well as over
1,200 third party Internet travel sites, and hotel reservation
offices/central reservation centers.

“With SynXis, we have the opportunity to deliver an even broader
range of services to meet the needs of the hotel industry, which is
the largest segment of travel today,” said Eric Speck, chief marketing
officer, Sabre Holdings. “We can provide hoteliers with the ability to
sell more rooms more efficiently, and simplify the process at the
point of sale where they are issued. It also enables us to expand and
deepen our relationships with hotel properties and better serve the
hotel requirements for all of our agents, online and offline.

“This move reinforces our belief that the best way to give
travelers what they need is to make sure that suppliers get what they
need, too — in this case, compelling technology that can automate the
hotel reservation process and provide hoteliers with a single view of
inventory,” Speck added.

The $40 million cash transaction is expected to be neutral to
Sabre Holdings earnings per share on an adjusted basis in 2005 and
slightly dilutive on a GAAP basis in 2005 due to the amortization of
certain intangibles. The proposed transaction is expected to generate
tax deductions that will effectively reduce Sabre Holdings cost of the
acquisition by approximately $6 million, to approximately $34 million.

Sabre Holdings expects to close the transaction in the first
quarter of 2005 subject to customary closing conditions. After
closing, SynXis, headquartered in McLean, Va., and its two operating
subsidiaries, SynXis International Holdings, B.V. and HubX, Inc., will
continue to offer its extensive range of services under the SynXis

Through the proposed acquisition, Sabre Holdings expects to
increase hotel transaction revenues generated through the SynXis
system. The move is also expected to further extend SynXis
Corporation’s existing relationships with Sabre Holdings, including
the Sabre Travel Network and Travelocity. In May of this year, SynXis
signed an agreement to include its hotel customers in the Travelocity
merchant model hotel program.

Sabre Holdings also plans to extend the benefits of the SynXis
product to other hotels, offering the technology that is in use today
at about 6,000 hotel properties, primarily in the U.S. and Europe.
These property relationships are also expected to benefit travel
agents, offline and online, with more accurate information about hotel
room availability and rates.

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 more than 6,000 employees in 43 countries.
Full year 2003 revenues totaled $2.05 billion. Sabre Holdings is
traded on the New York Stock Exchange under the symbol TSG. More
information is available at

About SynXis Corporation

SynXis enables hotels to maximize revenue and reduce costs through
innovative, market-driven technology combined with outstanding
customized support. The SynXis Reservation Management System, at the
solution’s core, empowers hotel operators to consolidate and manage
hotel inventory from all sources — seamless GDS connectivity, over
1200 popular Internet travel sites, private-label central reservations
systems, and full-service hotel Web sites. It also helps hotels build
revenue by enabling them to independently manage each distribution
channel from one easy-to-use control center. All of these reservations
can connect directly with the PMS. SynXis is the technology source for
close to 6000 hotels, bed and breakfasts, resorts, and destinations,
including, Harrah’s, VIP International, Interstate Hotels & Resorts,
Destination Hotels & Resorts, and Jumeirah Hotels.

Statements in this release which are not purely historical facts
or which necessarily depend upon future events, including statements
about the closing of or the expected benefits to Sabre Holdings
Corporation from the proposed transaction, 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 Corporation on the date this report was
submitted. Sabre Holdings Corporation 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
structural changes within the travel industry, such as increased
competition from merchant model hotel offerings by our competitors.
Sabre Holdings Corporation 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 Sabre Holdings Corporation’s most recent filing on Form
10-Q with the Securities and Exchange Commission.

    CONTACT: Sabre Holdings Corporation, Southlake
             Media Contact:
             Michael Berman, 682-605-2397
             Investor Relations:
             Karen Fugate, 682-605-2343

    SOURCE: Sabre Holdings Corporation