Travelocity Extends and Revises Marketing Agreement With America Online; Travelocity to Be Exclusive Reservations Engine for Several AOL Brands

SOUTHLAKE, Texas, Jan. 22 /PRNewswire/ — Travelocity(R) and longtime
partner, America Online, Inc., the world’s leading interactive services
company, have extended and revised the terms of their marketing agreement
through March 2006.

Under the terms of the agreement, Travelocity will benefit from more
strategically aligned terms for placement within several AOL brands over two
years starting April 1, 2004. This will result in significant savings for
Travelocity over the final year of the previous agreement, with savings
commencing in the second quarter of 2004. In addition to annual fixed
payments, America Online will also benefit by reducing the amount of
advertising revenue within the AOL brands that it shares with Travelocity, and
increasing the potential revenue earned from Travelocity based on increasing
transactional performance.

“Travelocity has always enjoyed a deep, meaningful relationship with
America Online, and it is an alliance that our mutual customers have benefited
from as well,” said Michelle Peluso, president and CEO of Travelocity. “To
reach a new accord more than a year ahead of schedule is a testament to the
strong links we’ve forged with AOL.”

“America Online greatly values its ties to Travelocity,” said Michael
Barrett, Executive Vice President of AOL Networks Sales and Solutions. “The
true winner here though is the traveling public, who will continue to reap the
rewards of our partnership with a service offering featuring only the best in
products, customer service, compelling deals and cross promotional

About Travelocity

Travelocity, a Sabre Holdings(TM) company, pioneered the online travel
space and continues to be the most popular travel service on the Web, giving
consumers access to hundreds of airlines, thousands of hotels and cruise,
last-minute and vacations packages, and best-in-class car rental companies,
all backed by 1,000 customer service representatives staffed to provide
24-hour assistance. With 41 million members, Travelocity is the sixth largest
travel agency in the United States. It has been recognized worldwide for its
leadership in the online travel space, and it operates or powers Web sites in
five languages across four continents. Additional information about
Travelocity can be found on the Web at .

Sabre Holdings Corporation (NYSE: TSG) is a world leader in travel
commerce, retailing travel products and providing distribution and technology
solutions for the travel industry. More information about Sabre Holdings is
available at .

Cautionary Notice

Statements in this news release which are not purely historical facts,
including statements about the expected benefits to Travelocity of the
agreement referenced herein, 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 Travelocity 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 risks or uncertainties related to Travelocity’s ability
to increase site traffic from its portal partners. Sabre Holdings Corporation
may not succeed in addressing these and other risks. Further information
regarding factors that could affect Sabre Holdings’ 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

     Judy Haveson ( )
     Mary Kate Smither ( )
SOURCE  Travelocity
    -0-                             01/22/2004
    /CONTACT:  Judy Haveson, +1-212-554-7425, or , or Mary
Kate Smither, +1-972-488-4790, or , both for
    /Web site:

CO:  Travelocity; America Online, Inc.; Sabre Holdings Corporation
ST:  Texas

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