Sam Gilliland Named Chairman of Sabre Holdings; Lead Director and Proposed Declassified Board Further Strengthen Corporate Governance

SOUTHLAKE, Texas–(BUSINESS WIRE)–Nov. 15, 2004–Sabre Holdings
Corporation (NYSE: TSG) announced today that its board of directors
has named Chief Executive Officer Sam Gilliland to the additional role
of chairman of the board of directors.

Gilliland was named president and CEO of Sabre Holdings on Dec. 2,
2003. At that time, Paul C. Ely, Jr. was elected to serve as the
non-executive chairman of the company’s board of directors. Ely will
remain on Sabre Holdings’ board as an independent director.

“Sam has been in the role of CEO for nearly a year and the board
has been very pleased with his leadership,” said Ely. “His broad and
diverse travel industry experience and tremendous management
capabilities will continue to serve him well as he leads the company
into the future.”

Gilliland has been with the company since 1988 in a number of
leadership positions, including CEO of Travelocity, executive vice
president and chief marketing officer of Sabre Holdings, group
president of the company’s Airline Solutions business unit, and senior
vice president and general manager of Sabre Business Travel Solutions.

“I greatly appreciate Paul Ely’s guidance and support over the
past eleven months,” said Gilliland. “And I look forward to working
with Paul in his continuing role as an independent director.”

In addition, the board appointed Royce S. Caldwell as lead
independent director, a newly created position. The move is consistent
with the company’s focus on sound corporate governance and to
maintaining strong oversight by the board’s independent directors. As
lead director, Caldwell will preside over executive sessions of the
independent directors and work closely with the chairman. Eight of
nine members of the board are independent.

“Royce’s deep knowledge, experience and insights will serve us
well in his new role as lead director, helping to further our strong
governance practices, as well as facilitate the board’s productivity
and efficiency,” said Gilliland.

Caldwell was elected to the Sabre Holdings board in May of 2001.
He is retired vice chairman of SBC Communications. During his tenure
with SBC, he served as chief operating officer and a member of the
board of directors, as well as chairman and chief executive officer of
Pacific Bell Corp., Southern New England Corp., and Prodigy Corp.
Caldwell also served as president and chief executive officer of
Southwestern Bell Corp.

Board to Propose Declassification

The board of directors has also decided to submit for approval by
the company’s stockholders proposed changes to the company’s
certificate of incorporation and bylaws that would eliminate director
classes and staggered election of directors. To be effective, that
proposal would need the approval of at least 80 percent of Sabre
Holdings stockholders at its annual meeting in 2005. If the proposed
change were approved, all directors would stand for election each year
beginning in 2006.

The board believes that these actions will further contribute to
its strong oversight and sound corporate governance.

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

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

    SOURCE: Sabre Holdings Corporation