EANS-Adhoc: TUI AG / TUI intends to participate in the new convertible bonds offering of TUI Travel to protect its controlling majority over TUI Travel

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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
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Financing

20.04.2010

Hanover, 20 April 2010. TUI Travel plc (`TUI Travel´), a subsidiary
of TUI AG (`TUI´), has announced the launch of an offer of
convertible bonds (the `Bonds´) of up to GBP 400 million. The
conversion price is expected to be fixed between 30% and 35% above
the reference share price. The Bonds are expected to have a term of
seven years and carry a coupon between 4.75% and 5.50%.

TUI intends to participate in 50 per cent of the Bonds. TUI is fully
refinancing its purchase of these Bonds via a three year financing
arrangement with Deutsche Bank. A mechanism has been put in place to
secure TUI´s voting rights majority over TUI Travel at any time if
any Bonds are converted by third parties.

TUI currently controls 54.9 per cent of the issued shares in TUI
Travel; such shares will be held by TUI directly, Nero Finance
Limited and Antium Finance Limited.

Some of the information in this press release may contain
predictions, expectations or forward-looking statements. These
statements may entail known or unknown risks or uncertainties. Actual
results and developments may therefore differ materially from the
expressed expectations and assumptions. The performance of financial
markets, the development of exchange rates, amendments to national
and international laws, in particular concerning tax regulations, may
also have an impact. Except as provided by law, the Company
undertakes no obligation to update forward-looking statements.

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

Further inquiry note:

Investor Relations contact:

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

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

Media contact:

Uwe Kattwinkel, phone +49 (0) 511 566 1417

Robin Zimmermann, phone +49 (0) 511 566 1488

Branche: Transport
ISIN: DE000TUAG000
WKN: TUAG00
Index: MDAX, CDAX, HDAX, Prime All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / regulated dealing
Hamburg / regulated dealing
Stuttgart / regulated dealing
Düsseldorf / regulated dealing
Hannover / regulated dealing
München / regulated dealing