euro adhoc: TUI AG / Joint Ventures/Cooperation/Collaboration / Ad-hoc-statement in accordance with section 15 of the German Securities Trading Act (WpHG German Stock Exchange Act) TUI Travel upgrade

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Disclosure announcement transmitted by euro adhoc. The issuer is responsible
for the content of this announcement.
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29.01.2008

London/Hanover, 29 January 2008. TUI Travel PLC, a TUI AG group
company, today publishes the results of the 100-day-review by CEO
Peter Long in London and provides an update on details of its further
strategy. According to this update, excellent progress has been
achieved on the integration of the business of First Choice Holidays
PLC and TUI´s tourism division under the newly formed TUI Travel. As
a result, TUI Travel has upgraded the expected synergies from an
initial 100 million pound sterling to now 150 million pound sterling
per annum. The synergies are expected to be fully effective by the
end of the 2010 financial year. The additional synergy benefit will
be realised in the UK and in continental Europe as well as a number
of central functions. It is now expected that the restructuring costs
associated with the delivery of the synergies will amount to 180
million pound sterling. The identified synergies and further
underlying margin opportunity in the Mainstream Holidays as well as
in the Specialist sector will facilitate a significant increase in
the operating margin going forward.

In addition, TUI Travel PLC has today signed a Memorandum of
Understanding with Deutsche Lufthansa AG and Albrecht Knauf
Industriebeteiligung GmbH, allowing the parties to proceed with plans
to merge their subsidiaries Hapag-Lloyd Fluggesellschaft GmbH,
Hapag-Lloyd Express GmbH, Germanwings GmbH and Eurowings Luftverkehrs
AG under a joint and independent holding company. The prerequisites
for the conclusion of legally binding agreements will be a due
diligence process and negotiations of the specific details. The
merger will require approval by the relevant bodies of the companies
involved and by the anti-trust authorities.

Hanover, 29 January 2008
- The Executive Board -

Address: TUI AG Karl-Wiechert-Allee 4 30625 Hanover Germany List of
exchanges where stock is listed: Berlin/Bremen, Düsseldorf,
Frankfurt, Hamburg, Hanover, Munich, Stuttgart International security
identification number (ISIN): DE000TUAG000 DE0003659884 DE0002913894
XS0191794782 XS0191795672 XS0195307367 DE000TUAG059 XS0237431837
XS0237433700 XS0237435317 XS0237436711

More detailed information is available at www.tuitravelplc.com. This
press release is also available at www.tui-group.com.

End of the ad-hoc-statement If we comment on forecasts or
expectations in this announcement or if our statements relate to the
future, these statements may be associated with known and unknown
risks and uncertainties. Actual outcomes and developments may,
therefore, deviate significantly from the expressed expectations and
assumptions. In addition, the performance of financial markets and
exchange rates as well as national and international law amendments,
particularly with regard to tax regulations, may have an influence.
Except as provided by law, the company assumes no obligation to
update future statements.

end of announcement euro adhoc
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ots Originaltext: TUI AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Björn Beroleit, phone +49 (0)511 - 566 1310

Nicola Gehrt, phone +49 (0)511 - 566 1435

Branche: Transport
ISIN: DE000TUAG000
WKN: TUAG00
Index: DAX, CDAX, HDAX, Prime All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
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