Sale of Explorers Hotel

30 March 2012

Thomas Cook Group

Sale of Explorers Hotel

Thomas Cook Group plc (Thomas Cook) is pleased to announce today that it has completed a transaction to sell its rights in relation to the Explorers Hotel (Explorers) to Verquin SAS (Verquin), an associate company of Algonquin SA. The sale of Explorers is part of Thomas Cook's disposal programme announced last year.

Explorers is a 3-star hotel located close to Disneyland Paris, France. Thomas Cook will continue to benefit from access to Explorers' rooms through a continuation of the commercial arrangements that currently exist between a number of Thomas Cook businesses and Explorers.

Under the terms agreed with Verquin, Thomas Cook will receive cash proceeds of €3.4 million, which equates to approximately £2.9 million at current exchange rates. In addition, Verquin will assume from Thomas Cook a €20.1 million operating lease liability remaining from the construction of Explorers. The proceeds of the sale of Explorers will be used to reduce Thomas Cook's borrowings and/or for general corporate purposes.

For further information, please contact:

Notes to editors:

1. The transaction will be effected through the acquisition by Verquin of 100% of the share capital of Parkway Property Holdings France SAS and Parkway Property Management France SAS, both 100% subsidiary companies of Thomas Cook.

2. Verquin has agreed to pay consideration of €3.4 million to Thomas Cook on 30 March 2012, which includes an amount for the estimated net current assets of Explorers at 31 March 2012. An adjustment to the consideration for actual net current assets at 31 March 2012 is expected to be made by 31 May 2012.

3. For the year ended 30 September 2011, Explorers reported a loss before tax of €0.3 million.

4. As at 30 September 2011, Explorers had gross assets of €12.7 million and net assets of €8.3 million.

About Thomas Cook Group plc

Thomas Cook Group plc is one of the world's leading leisure travel groups, with sales

of £9.8 billion and 23.6m customers. Thomas Cook operates under six geographic

segments in 22 countries and is number one or two in our core markets. Its business

is supported by 31,000 employees.

Thomas Cook Group plc's shares are listed on the London Stock Exchange (TCG).

About Algonquin SAAlgonquin SA is a privately owned hotel investor and operator. Through its subsidiaries and investment funds Algonquin owns 35 hotels with c.4,000 rooms, of which 16 hotels are directly managed by Algonquin. Over the past three years, Algonquin has made over €200 million of hotel investments. Further information on Algonquin can be found at www.algonquin.be.