Ambassadors International, Inc. Is Considering a Spin-Off of Its Education Group

Apr 16, 2001, 01:00 ET from Ambassadors International

    SPOKANE, Wash., April 16 /PRNewswire/ --
 Ambassadors International, Inc. (Nasdaq:   AMIE) ("Ambassadors") announced that
 it is considering a transaction in which it would spin-off its wholly owned
 subsidiary, Ambassadors Education Group, Inc. ("Education Group"), whereby the
 stockholders of Ambassadors would receive a distribution of all of the common
 stock of Education Group.  If the spin-off occurs, Ambassadors expects that a
 public market would exist for Education Group's common stock and, therefore,
 each stockholder would then own shares of common stock of two publicly held
 corporations.  If the spin-off occurs, Education Group will file an
 application to have its common stock listed on Nasdaq.
     John A. Ueberroth, President and Chief Executive Officer of Ambassadors,
 stated, "We are considering the spin-off in order to allow the financial
 community to focus separately on each of our two main business segments.  We
 believe that this could increase stockholder value for our company's
 stockholders."
     Should the spin-off occur, it is anticipated that the present management
 of Education Group would continue in place.  This transaction, if completed,
 will take approximately five months to complete and is subject to the approval
 of Ambassadors' Board of Directors.  Until the transaction has been completed,
 the terms may be modified or the transaction may be abandoned at any time.
     Ambassadors International, Inc. organizes and promotes international
 educational travel and sports programs on a worldwide basis for students,
 athletes, and professionals.  The Company develops, markets and manages
 meetings and incentive programs for a nationwide roster of corporate clients
 that utilize incentive travel, merchandise award programs and corporate
 meeting management services.  The Company also provides comprehensive hotel
 reservation, registration and travel services for meetings, conventions,
 expositions and trade shows.  The Company is headquartered in Spokane, Wash.,
 and has offices in Newport Beach, Calif., San Francisco, Calif., Atlanta, Ga.,
 Winnebago, Ill., St. Louis, Mo., and Alexandria, Va.
 
     Forward-Looking Statements
     This press release contains forward-looking statements regarding the
 Company's actual and expected financial performance and the reasons for
 variances between year-to-year and quarter-to-quarter results.
 Forward-looking statements, which are included per the "safe harbor"
 provisions of the Private Securities Litigation Reform Act of 1995, may
 involve known and unknown risks, uncertainties and other factors that may
 cause the Company's actual results and performance in future periods to be
 materially different from any future results or performance suggested by the
 forward-looking statements in this release.  Such forward-looking statements
 speak only as of the date of this release.  The Company expressly disclaims
 any obligation to provide public updates or revisions to any forward-looking
 statements found herein to reflect any changes in Company expectations or any
 change in events.  Although the Company believes the expectations reflected in
 such forward-looking statements are based upon reasonable assumptions, it can
 give no assurance that its expectations will be attained.  From time to time,
 these risks are discussed in the Company's filings with the Securities and
 Exchange Commission.
 
     CONTACT:  Jeff Thomas of Ambassadors International, Inc., 509-534-6200
 
 

SOURCE Ambassadors International
    SPOKANE, Wash., April 16 /PRNewswire/ --
 Ambassadors International, Inc. (Nasdaq:   AMIE) ("Ambassadors") announced that
 it is considering a transaction in which it would spin-off its wholly owned
 subsidiary, Ambassadors Education Group, Inc. ("Education Group"), whereby the
 stockholders of Ambassadors would receive a distribution of all of the common
 stock of Education Group.  If the spin-off occurs, Ambassadors expects that a
 public market would exist for Education Group's common stock and, therefore,
 each stockholder would then own shares of common stock of two publicly held
 corporations.  If the spin-off occurs, Education Group will file an
 application to have its common stock listed on Nasdaq.
     John A. Ueberroth, President and Chief Executive Officer of Ambassadors,
 stated, "We are considering the spin-off in order to allow the financial
 community to focus separately on each of our two main business segments.  We
 believe that this could increase stockholder value for our company's
 stockholders."
     Should the spin-off occur, it is anticipated that the present management
 of Education Group would continue in place.  This transaction, if completed,
 will take approximately five months to complete and is subject to the approval
 of Ambassadors' Board of Directors.  Until the transaction has been completed,
 the terms may be modified or the transaction may be abandoned at any time.
     Ambassadors International, Inc. organizes and promotes international
 educational travel and sports programs on a worldwide basis for students,
 athletes, and professionals.  The Company develops, markets and manages
 meetings and incentive programs for a nationwide roster of corporate clients
 that utilize incentive travel, merchandise award programs and corporate
 meeting management services.  The Company also provides comprehensive hotel
 reservation, registration and travel services for meetings, conventions,
 expositions and trade shows.  The Company is headquartered in Spokane, Wash.,
 and has offices in Newport Beach, Calif., San Francisco, Calif., Atlanta, Ga.,
 Winnebago, Ill., St. Louis, Mo., and Alexandria, Va.
 
     Forward-Looking Statements
     This press release contains forward-looking statements regarding the
 Company's actual and expected financial performance and the reasons for
 variances between year-to-year and quarter-to-quarter results.
 Forward-looking statements, which are included per the "safe harbor"
 provisions of the Private Securities Litigation Reform Act of 1995, may
 involve known and unknown risks, uncertainties and other factors that may
 cause the Company's actual results and performance in future periods to be
 materially different from any future results or performance suggested by the
 forward-looking statements in this release.  Such forward-looking statements
 speak only as of the date of this release.  The Company expressly disclaims
 any obligation to provide public updates or revisions to any forward-looking
 statements found herein to reflect any changes in Company expectations or any
 change in events.  Although the Company believes the expectations reflected in
 such forward-looking statements are based upon reasonable assumptions, it can
 give no assurance that its expectations will be attained.  From time to time,
 these risks are discussed in the Company's filings with the Securities and
 Exchange Commission.
 
     CONTACT:  Jeff Thomas of Ambassadors International, Inc., 509-534-6200
 
 SOURCE  Ambassadors International