Livingston and Eurofly sign commercial agreement

Milan, September 11, 2008

Press Release

LIVINGSTON AND EUROFLY SIGN COMMERCIAL AGREEMENT

Agreement to come into force starting from coming IATA winter season
to offer customers and passengers more convenient and complete airline services

Livingston S.p.A, the airline company owned by Ventaglio Group, and Eurofly S.p.A. - a Meridiana Group airline company - have signed a commercial agreement for the 2008/2009 winter season.

The agreement aims to enhance the product offering for Tour Operators and the market in general, thanks to an increased number of non-stop flights and destinations, whilst also harmonizing flight schedules and providing a series of additional, personalized services both on the ground and in the air. Optimization of the long-haul network via code sharing is expressly designed to offer the Italian market a complete and quality leisure product.

The airlines' combined network offers flights to the Dominican Republic, Mexico, Brazil, Cuba, Antigua, Jamaica, St. Lucia and Barbados (operated with Livingston aircraft) and the Maldives, Sri Lanka, Kenya, Tanzania and the Seychelles (operated with Eurofly aircraft). Thanks to 7 brand new Airbus A330-200s, based at Milan Malpensa Airport (in addition to those based at Rome Fiumicino and Bologna airports), the two carriers expect to handle approximately 300,000 passengers over the season.

"Livingston has signed this agreement with the aim of optimizing and streamlining the seats and routes on offer to the leisure market, during a particularly crucial period for the industry." - commented Giancarlo Celani, Chairman and CEO of Livingston S.p.A. - "We hope that this agreement marks just the beginning of a long-standing commercial partnership, especially in view of the positive response of the market so far."

"The agreement focuses on the quality of service and the number of flights and destinations on offer, thus providing travelers with greater choice and a wider range of options." - commented Gianni Rossi, CEO of Eurofly S.p.A. - "The synergies we have identified, combining the two companies' experience, will lead to improvements in customer service and mark an important step towards rationalizing costs."