OTV Onetravel Hlgs

OneTravel Holdings, Inc. (AMEX: OTV), a leading online and offline provider of travel and leisure services announced today that it has completed a major portion of the integration of its acquisition of OneTravel, Inc. As of August 1, all of the company's full service travel web sites are controlled by the same technology platform, which allows all of the web sites to access and search the inventory of both the 1-800-CheapSeats and OneTravel, Inc. subsidiaries to find the best offering for a customer search. This simplifies the technology center for the company, as only one platform needs to be maintained. The Company also noted that there would some cost savings from the integration, but that the real long-term value was in the simplification of moving to one platform. The Company also announced that it has seen strong growth in its hotel sales over the past two months since the Company initiated a focus on its hotel bookings. This focus not only includes an effort to increase hotels from the Company's primary full service travel web sites www.cheapseats.com and www.onetravel.com, but also www.discounthotels.com, which is a web site that had been owned by OneTravel, Inc. prior to its being acquired by OTV in April 2005. The Company has found that www.discounthotels.com is a very strong URL for consumer traffic as the web site comes up generically when consumers enter descriptive terms in search engines looking for inexpensive or "discount" hotels. The Company believes that in time the www.discounthotels.com web site could grow into a very prominent web site in the online hotel market. The Company also expects its hotel bookings to continue to trend up when it can access the additional hotel properties available through the recently announced agreement to use Pegasus Solutions, Inc.'s UltraDirect(TM) electronic distribution service. The technology work on accessing these hotel properties is in progress and the Company expects the work to be completed and available to customers by the end of August. "The OneTravel acquisition was a tremendous strategic move for OTV as it gave us the critical mass we needed to compete with the largest players in the online travel industry. The integration of our Companies to one technology platform is important, although we realize that unless you are in our industry or somewhere in the trenches of technology, it is difficult to appreciate the great accomplishment this is and how it will make us much more efficient in the future," said William A. Goldstein, Chairman and CEO of OneTravel Holdings. "I am also very excited about the progress we have made in our hotel bookings. The 1-800-Cheapseats business was built around air travel, which in many cases is the first part of a travel booking. The next generation of our business is to add hotel offerings and market these offerings, including packages, aggressively as hotels are traditionally a much higher margin business than air. The fact that we have been able to increase hotel bookings significantly in the last few months and drive an increasing amount of traffic to www.discounthotels.com gives me great optimism that we will be successful in augmenting our air travel growth with significant growth in our hotel business. We are really starting to hit our stride on a lot of operating fronts, and although there are always challenges ahead, we are very excited by the progress we have made," added Mr. Goldstein. About OneTravel Holdings, Inc. (AMEX:OTV) OneTravel Holdings, Inc. (www.onetravelholdings.com) derives all of its revenues from its travel business subsidiaries, Farequest Holdings, Inc., operating under the name 1-800-CHEAPSEATS (www.cheapseats.com) and OneTravel, Inc. (www.onetravel.com), both of which are leading online and offline providers of a full range of travel services, and FS SunTours, Inc., which sells leisure and vacation travel packages under the SunTrips(R) brand (www.suntrips.com). The Company derives additional revenue from operating other travel related web sites. Statements in this news release about anticipated or expected future revenue or shareholder value growth or expressions of future goals or objectives, including statements regarding market conditions or whether current plans to grow and strengthen the Company's business will be implemented or accomplished, are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. When used in this release and documents, the words "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company or its management, are intended to identify such forward-looking statements, but are not the exclusive means of identifying these statements. All forward-looking statements in this release are based upon information available to the Company on the date of this release. Any forward-looking statements involve risks and uncertainties, including the risk that the Company will be unable to grow or strengthen its business due to a lack of capital or a change in market demand for its products and services or to fully or effectively integrate all business units or the inability to realize anticipated cost savings or revenue and stockholder value growth opportunities associated with the acquisitions of Farequest Holdings, Inc. and OneTravel, Inc. The Company has previously mentioned in conference calls that gross bookings are not equal to gross revenues under generally accepted accounting principles, so no inference can be made about profitability based on gross bookings unless expressly stated by the Company. There is also no certainty that the Company will be successful in its quest to secure strategic alliances in its efforts to restructure its SunTrips operations. The Company is also subject to those risks and uncertainties described in the Company's filings with the U.S. Securities and Exchange Commission ("SEC"), including the Company's historical losses and negative cash flow, its need for additional capital, including to finance the $12,500,000 promissory notes payable to the former stockholders of OneTravel, Inc., and that future financing, if available, will dilute the Company's current common stockholders. Additionally, forward-looking statements concerning the performance of the travel and leisure industry are based on current market conditions and risks, which may change as the result of certain regulatory, political, or economic events, a shift in consumer travel preferences, as well as those risks and uncertainties described in the Company's SEC filings, which could cause actual events or results to differ materially from the events or results described in the forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements. For a complete description of the items approved at the annual stockholder's meeting, the Company's proxy statement is available for viewing in the Company's SEC filings.