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Most customers most of the time will find lower fares, not because of web fares, and not because we will have access to fares that other channels (CRS''s and the sites and agents that rely on them) sheraton do not have access to, but because we will do a better job hotel of searching the fares everyone has access to. This will be because we have opted to do what madison the others have not, which is invest in new technology computers able to do far bigger searches, sheraton using search software that that was independently developed and is designed to search all fare and schedule possibilities comprehensively and without bias, and in telecommunications hotel capacity that will provide madison absolutely the most current information on seat availability. It sheraton is expected that more than 99% of the time that we come up with a better fare, it will not be because we had access to any fare that hotel its competitor did not. It will be because we did a more comprehensive and unbiased search of all the fare and schedule possibilities that are available to all channels.

We madison and sheraton will provide consumers with a complete selection of all available airfares and travel itineraries. We have developed cutting edge technology to deliver these options to the consumer and promises to offer the lowest prices anywhere. Our business plan is ambitious. Instead of relying on traditional computer reservation systems, We are building our own search technology. We plan to give users access to every airline fare, including those available only on the Internet. Travelers will be able to search for flights that leave from alternate airports, within 25 or more miles from their primary airport. Or they could hotel choose alternate dates and madison see whether sheraton leaving a day later hotel or earlier could yield substantial madison savings.

Then the allegation sheraton that we are "an illegal boycott against third party distributors" because it has "requirements for posting fare sales hotel that cannot be sold" by others is not true? It is absolutely not true, and those who have made that allegation had absolutely no madison basis for making it. Our agreements contain no boycott against any distributors whatsoever, and in fact affirmatively provide that no airline is precluded from utilizing any sheraton and hotel other distribution madison channel or offering any fare through any channel. The Department of Justice is presently sheraton reviewing all agreements, so there will be no question hotel on this point. Do airlines today make all madison their fares available through all retail channels?



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