i:FAO Closes Books on Successful 2000

Substantial Growth Ahead - Presence in 10 U.S. Metropolitan Areas -

quixdata Successfully Integrated



Apr 11, 2001, 01:00 ET from i:FAO of North America, Inc.

    DEARBORN, Mich., April 11 /PRNewswire/ -- In early 2000, i:FAO AG
 (Frankfurt, Germany) was prepared to build on its position as the European
 market maker for business travel eProcurement solutions by establishing a
 North American headquarters with a handful of employees.
     What a difference a year makes.
     As 2001 opens, i:FAO of North America, Inc. is comprised of more than 30
 associates marketing, selling and supporting two core and complementary
 products -- cytric and quixdata.  Regional sales managers are strategically
 located in all major markets around the country, while main offices are
 located in Dearborn, Mich., and in San Ramon, Calif.  Moreover, the company
 continues to expand its client roster for its cytric and quixdata product
 lines, with a total of 557 corporations and travel agencies now licensed users
 of the company's eProcurement technologies.
 
     Organizational Development
     Following an extremely successful IPO in 1999, i:FAO AG was positioned to
 make the necessary investments to support the launch of its business travel
 eProcurement solutions into the North American market.  From an organizational
 standpoint, highlights included:
 
     In July 2000, i:FAO AG acquired QuixData Systems, Inc., (San Ramon,
 Calif.), a travel management technology company that provides global data
 consolidation, data warehousing, and data mining products.  Roger Hunt,
 founder and president of QuixData Systems, assumed the presidency of i:FAO of
 North America, Inc., and Mr. Hunt and his team direct the quixdata division's
 operations, product development and sales and marketing programs out of San
 Ramon.  Debbie Knecht, Executive Vice President, and her team manage all North
 American cytric operations, and sales marketing programs out of i:FAO of North
 America, Inc.'s offices in Dearborn.  Mr. Hunt and Ms. Knecht both report
 directly to Louis Arnitz, Chief Executive Officer of i:FAO AG.
     In August 2001, i:FAO AG completed a 15% investment in i-tinerary Travel
 Solutions (Scottsdale, Ariz.), a leading provider of travel management
 solutions for small and medium-sized enterprises.  i-tinerary Travel Solutions
 offers complete integration of the travel reservation with any calendar
 software (e.g. Microsoft Outlook) and uses proprietary technology and
 artificial intelligence to ensure that personal travel preferences are
 considered.  Powered by the cytric Internet Booking Engine, i-tinerary
 products can handle reservations via WAP, PDA and various wireless devices, as
 well as via the Internet, thereby redefining travel procurement for unmanaged
 business travelers and small to midsize corporations.
 
     Business Development
     i:FAO of North America, Inc.'s strategy was to staff its cytric and
 quixdata sales teams exclusively with senior-level, travel industry veterans.
 This proved to be a wise decision, as the company signed licensing agreements
 with a number of corporations and travel agencies in 2000.  Highlights
 included:
 
     Rotary International: The world's leading humanitarian service
 organization, Rotary International evaluated every leading online booking
 system.  In selecting cytric, Rotary was particularly impressed by the
 technology's ability to accommodate a global travel program and its advanced
 Travel Management System that makes directional purchasing a reality.
     i-tinerary Travel Solutions: The industry leader in wireless travel
 management solutions needed a partner that shared its passion for developing
 leading-edge technology.  i:FAO's Wireless Application Protocol (WAP)
 initiative for cytric made it an ideal partner for i-tinerary Travel
 Solutions.
     Credit Suisse First Boston: This leading global bank uses quixdata data
 cleaning services to take data from travel agencies in many different
 countries.  The consolidated data is converted into a U.S. dollar database for
 reporting, which resides on quixdata Enterprise software installed on CSFB's
 servers in New York.  In addition, CSFB is using quixdata PreTravel via
 iClient, to manage their U.S. and UK purchasing to policy.
     Galileo International: This leading GDS private labels quixdata products
 for distribution to their customers, under the names Travel Data Reporting by
 Galileo, Net Publishing by Galileo and Compliance Data Reporting by Galileo.
 
     About i:FAO of North America, Inc.
     i:FAO of North America, Inc. is a leading supplier of business travel
 eProcurement solutions.  The company's core products, cytric and quixdata,
 allow corporations to implement best-of-class travel management systems.
 i:FAO's products are independent from travel vendors and are used in North
 America, Europe and Asia by corporations and travel agencies.
 
     About cytric
     The cytric division of i:FAO of North America, Inc. offers corporations
 and agencies a truly global, neutral eProcurement business travel solution.
 The technology incorporates 12 languages and nearly 200 different currencies,
 and is compatible with and independent of the major GDS's, as well as vendors
 and agencies.
     With more than 800 travel management settings, corporations can integrate
 their travel policy and preferred vendors into cytric, ensuring that with each
 online purchase users are directed to a purchasing decision that is in the
 best interests of their corporation.  By driving bookings to preferred
 vendors, corporations are able to strengthen their negotiating position with
 these vendors, further increasing cost savings.  A recent study by
 PricewaterhouseCoopers showed that corporations implementing cytric can
 realize significant savings in their travel program, in both direct
 procurement costs, as well as through process optimization and a reduction of
 travel management fees charged by their agency.
 
     About quixdata
     The quixdata division of i:FAO of North America, Inc. offers a complete
 suite of travel data management software and services for corporate travel
 management.  Pre-travel and post-travel data is captured in an unbiased data
 warehouse with easy-to-use data mining tools for travel managers and corporate
 executives.
     Travel compliance, vendor negotiation, budgeting, and information
 retrieval are tasks that quixdata products can perform in seconds.  Global
 consolidation and currency conversions are achieved along with automated
 electronic data integrity checks to ensure accuracy.  quixdata software is
 scalable to any size corporation and priced so that a rapid return on a
 corporation's investment can quickly be achieved.
 
     Corporate Development
     In 2000, the i:FAO Group was organized to meet changing market conditions
 and is positioned for future growth and success.  The high marketing expenses
 typically associated with Internet companies have already been reduced since
 April of 2000.  Loss leaders like the eHotel Service (a spin-off into the new
 ehotel AG in a joint venture with bedhunter.com GmbH) and the cabana Travel
 Community (separated into a joint venture with Travix GmbH) have been
 successfully separated from the i:FAO Group.
     With cytric and quixdata, i:FAO AG is now positioned as a true software
 developer for business travel software, and, according to Arnitz, will reach
 breakeven in fiscal 2001.
     Since successfully focusing on its strategy the i:FAO Group is, with an
 Equity Ratio of 93.2%, on a Balance Sheet Total of EURO 45.0 million, well
 geared to increase investments in marketing and sales in the new fiscal year.
 Liquid Assets as of December 31, 2000 amounted to EURO 28.5 million.
     For 2001, the company announced further sales growth and, despite ongoing
 investments a breakeven for i:FAO AG.  Because of high demand for i:FAO's
 software products, the company reported positive operating results for the
 last quarter of fiscal 2000.
     The company's Annual Report 2000, with substantial additional information
 and explanations, can be comfortably downloaded from the i:FAO web site at
 www.ifao.net as a .pdf file.  A printed version can be ordered directly from
 i:FAO Aktiengesellschaft -- Internet: www.ifao.net , eMail: info.us@ifao.net ,
 Telefax: 313-271-1010
 
 

SOURCE i:FAO of North America, Inc.
    DEARBORN, Mich., April 11 /PRNewswire/ -- In early 2000, i:FAO AG
 (Frankfurt, Germany) was prepared to build on its position as the European
 market maker for business travel eProcurement solutions by establishing a
 North American headquarters with a handful of employees.
     What a difference a year makes.
     As 2001 opens, i:FAO of North America, Inc. is comprised of more than 30
 associates marketing, selling and supporting two core and complementary
 products -- cytric and quixdata.  Regional sales managers are strategically
 located in all major markets around the country, while main offices are
 located in Dearborn, Mich., and in San Ramon, Calif.  Moreover, the company
 continues to expand its client roster for its cytric and quixdata product
 lines, with a total of 557 corporations and travel agencies now licensed users
 of the company's eProcurement technologies.
 
     Organizational Development
     Following an extremely successful IPO in 1999, i:FAO AG was positioned to
 make the necessary investments to support the launch of its business travel
 eProcurement solutions into the North American market.  From an organizational
 standpoint, highlights included:
 
     In July 2000, i:FAO AG acquired QuixData Systems, Inc., (San Ramon,
 Calif.), a travel management technology company that provides global data
 consolidation, data warehousing, and data mining products.  Roger Hunt,
 founder and president of QuixData Systems, assumed the presidency of i:FAO of
 North America, Inc., and Mr. Hunt and his team direct the quixdata division's
 operations, product development and sales and marketing programs out of San
 Ramon.  Debbie Knecht, Executive Vice President, and her team manage all North
 American cytric operations, and sales marketing programs out of i:FAO of North
 America, Inc.'s offices in Dearborn.  Mr. Hunt and Ms. Knecht both report
 directly to Louis Arnitz, Chief Executive Officer of i:FAO AG.
     In August 2001, i:FAO AG completed a 15% investment in i-tinerary Travel
 Solutions (Scottsdale, Ariz.), a leading provider of travel management
 solutions for small and medium-sized enterprises.  i-tinerary Travel Solutions
 offers complete integration of the travel reservation with any calendar
 software (e.g. Microsoft Outlook) and uses proprietary technology and
 artificial intelligence to ensure that personal travel preferences are
 considered.  Powered by the cytric Internet Booking Engine, i-tinerary
 products can handle reservations via WAP, PDA and various wireless devices, as
 well as via the Internet, thereby redefining travel procurement for unmanaged
 business travelers and small to midsize corporations.
 
     Business Development
     i:FAO of North America, Inc.'s strategy was to staff its cytric and
 quixdata sales teams exclusively with senior-level, travel industry veterans.
 This proved to be a wise decision, as the company signed licensing agreements
 with a number of corporations and travel agencies in 2000.  Highlights
 included:
 
     Rotary International: The world's leading humanitarian service
 organization, Rotary International evaluated every leading online booking
 system.  In selecting cytric, Rotary was particularly impressed by the
 technology's ability to accommodate a global travel program and its advanced
 Travel Management System that makes directional purchasing a reality.
     i-tinerary Travel Solutions: The industry leader in wireless travel
 management solutions needed a partner that shared its passion for developing
 leading-edge technology.  i:FAO's Wireless Application Protocol (WAP)
 initiative for cytric made it an ideal partner for i-tinerary Travel
 Solutions.
     Credit Suisse First Boston: This leading global bank uses quixdata data
 cleaning services to take data from travel agencies in many different
 countries.  The consolidated data is converted into a U.S. dollar database for
 reporting, which resides on quixdata Enterprise software installed on CSFB's
 servers in New York.  In addition, CSFB is using quixdata PreTravel via
 iClient, to manage their U.S. and UK purchasing to policy.
     Galileo International: This leading GDS private labels quixdata products
 for distribution to their customers, under the names Travel Data Reporting by
 Galileo, Net Publishing by Galileo and Compliance Data Reporting by Galileo.
 
     About i:FAO of North America, Inc.
     i:FAO of North America, Inc. is a leading supplier of business travel
 eProcurement solutions.  The company's core products, cytric and quixdata,
 allow corporations to implement best-of-class travel management systems.
 i:FAO's products are independent from travel vendors and are used in North
 America, Europe and Asia by corporations and travel agencies.
 
     About cytric
     The cytric division of i:FAO of North America, Inc. offers corporations
 and agencies a truly global, neutral eProcurement business travel solution.
 The technology incorporates 12 languages and nearly 200 different currencies,
 and is compatible with and independent of the major GDS's, as well as vendors
 and agencies.
     With more than 800 travel management settings, corporations can integrate
 their travel policy and preferred vendors into cytric, ensuring that with each
 online purchase users are directed to a purchasing decision that is in the
 best interests of their corporation.  By driving bookings to preferred
 vendors, corporations are able to strengthen their negotiating position with
 these vendors, further increasing cost savings.  A recent study by
 PricewaterhouseCoopers showed that corporations implementing cytric can
 realize significant savings in their travel program, in both direct
 procurement costs, as well as through process optimization and a reduction of
 travel management fees charged by their agency.
 
     About quixdata
     The quixdata division of i:FAO of North America, Inc. offers a complete
 suite of travel data management software and services for corporate travel
 management.  Pre-travel and post-travel data is captured in an unbiased data
 warehouse with easy-to-use data mining tools for travel managers and corporate
 executives.
     Travel compliance, vendor negotiation, budgeting, and information
 retrieval are tasks that quixdata products can perform in seconds.  Global
 consolidation and currency conversions are achieved along with automated
 electronic data integrity checks to ensure accuracy.  quixdata software is
 scalable to any size corporation and priced so that a rapid return on a
 corporation's investment can quickly be achieved.
 
     Corporate Development
     In 2000, the i:FAO Group was organized to meet changing market conditions
 and is positioned for future growth and success.  The high marketing expenses
 typically associated with Internet companies have already been reduced since
 April of 2000.  Loss leaders like the eHotel Service (a spin-off into the new
 ehotel AG in a joint venture with bedhunter.com GmbH) and the cabana Travel
 Community (separated into a joint venture with Travix GmbH) have been
 successfully separated from the i:FAO Group.
     With cytric and quixdata, i:FAO AG is now positioned as a true software
 developer for business travel software, and, according to Arnitz, will reach
 breakeven in fiscal 2001.
     Since successfully focusing on its strategy the i:FAO Group is, with an
 Equity Ratio of 93.2%, on a Balance Sheet Total of EURO 45.0 million, well
 geared to increase investments in marketing and sales in the new fiscal year.
 Liquid Assets as of December 31, 2000 amounted to EURO 28.5 million.
     For 2001, the company announced further sales growth and, despite ongoing
 investments a breakeven for i:FAO AG.  Because of high demand for i:FAO's
 software products, the company reported positive operating results for the
 last quarter of fiscal 2000.
     The company's Annual Report 2000, with substantial additional information
 and explanations, can be comfortably downloaded from the i:FAO web site at
 www.ifao.net as a .pdf file.  A printed version can be ordered directly from
 i:FAO Aktiengesellschaft -- Internet: www.ifao.net , eMail: info.us@ifao.net ,
 Telefax: 313-271-1010
 
 SOURCE  i:FAO of North America, Inc.