Apax Partners’ Funds, Atlas, 3i, Doll Capital and founders complete the sale of eDreams to TA Assoc.

Barcelona, Spain, 29 October 2006 – Funds advised by Apax Partners today announced the completed sale of its 17.3% stake in eDreams, the fastest growing online travel company in Europe, to TA Associates as part of a 100% leveraged buyout. Atlas Venture, 3i, Doll Capital Management, and other minority shareholders have also sold their shares. Founders Javier Perez-Tenessa and James Hare have rolled over a significant percentage of their shares alongside TA Associates and will continue to drive the company’s growth going forward.

Founded in 1999, eDreams is the number one online travel agency in Southern Europe. The company offers the best selection and prices for flights, hotels and vacation packages to customers in Spain, Italy and France through the use of innovative search, packaging and booking engines via the Internet. Over six million customers have purchased their hotel, flight and vacation packages through eDreams since launch. In 2006, eDreams sales are expected to exceed €300 million. The company is headquartered in Barcelona.

Funds advised by Apax Partners first invested in eDreams in 1999, later completing a follow-on investment in 2000 alongside other financial investors. As eDreams’ largest shareholder, the Apax Funds have played a critical role in backing the company through its launch and actively supporting management in its efforts to develop the company to become the fastest growing and one of the most profitable online travel agencies in Europe.

“The sale of our shareholding in eDreams is a happy ending to our involvement in the successful creation and growth of the company. Our cooperation with the team has allowed us to create an undisputed European leader in the travel sector, and to generate attractive returns for all shareholders,” said Nicolas Bonilla, Managing Director of Apax Partners in Spain.

“We have greatly enjoyed working alongside Apax, Atlas, 3i, DCM and certain key private investors over this exciting period of strong growth. The company’s success is a reflection of the quality of our backers and their experience and dedication to creating world-class companies. We are now confident that eDreams will continue to lead the Southern European online travel sector in the years to come alongside our new partner, TA Associates,” said Javier Perez-Tenessa, Co-founder and CEO of eDreams.

Freshfields and Garrigues provided legal services to eDreams, and Morgan Stanley provided financial advisory services. Ashurst and Goodwin Procter served as legal counsel to TA Associates. Fortis provided Senior Debt financing for the deal.

Notes to Editors:
eDreams
eDreams, headquartered in Barcelona with offices in Spain and Italy, has experienced in recent years the most significant growth of any travel or e-commerce company in Southern Europe. Focused on offering the largest market selection of flight, hotel and vacation packages, eDreams offers clients the best prices to meet their travel needs via the web at www.edreams.es, www.edreams.it, www.edreams.com, and www.edreams.fr. All of these services offer customers comfort and flexibility thanks to an innovative search engine technology that allows them to compare prices and reserve trips via the Internet.

Apax Partners
Apax Partners (www.apax.com) is one of the world’s leading private equity investment groups. It operates across the United States, Europe, Israel and Asia and has more than 30 years of investing experience. Funds under the advice of Apax Partners total $20 billion around the world. These Funds provide long-term equity financing to build and strengthen world-class companies. Apax Partners Funds invest in companies across its global sectors of Tech & Telecom, Retail & Consumer, Media, Healthcare and Financial & Business Services. Apax Partners’ Funds investments include Panrico, Tommy Hilfiger, World Directories, Kabel Deutschland, TIM Hellas, Inmarsat, Intelsat, New Look, Travelex, Hit Entertainment,<

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