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Technology Stocks : IFLY - travel sales on the web pure play -- Ignore unavailable to you. Want to Upgrade?

To: Stephen who wrote (1187)	5/15/1998 5:58:00 PM
From: StaggerLee	Read Replies (4) \| Respond to of 4761

800 Travel Reports 25% Increase in Quarterly Revenues May 15, 1998 05:23 PM TAMPA, Fla., May 15 /PRNewswire/ -- 800 Travel Systems, Inc. IFLY announced today that total revenues were $2,078,O00 in the first quarter of 1998 an increase of 25% over revenues of $1,640,000 in the first quarter of 1997. The revenue increase reflects an increase in reservations booked to $15.2 million from $12.2 million in the first quarter of 1997. The Company's net loss during the first quarter of 1998 was ($169,108), a 50% reduction from the year earlier period's net loss of ($336,992). Mark Mastrini, President of 800 Travel commented that, "Now that we have completed out initial public offering, the Company has a strong balance sheet which will enable us to focus on our core, growth strategies; increasing reservation agents and rolling out our Internet commerce initiative. Simply stated, both efforts should result in booking more tickets at higher gross profit margins." 800 Travel System, one of the 100 largest independent travel agencies in the United States, provides low-priced airline tickets for domestic and international travel through its easy to remember numbers "800-LOW-AIR-FARE" (800-569-2473) AND "800-FLY-4-LESS" (800-359-4537). This release contains forward-looking statements relating to the future performance of the Company. The ability of the Company to achieve the results anticipated is dependent upon various factors discussed in its annual report on Form 10-KSB, including the Company's relationships with various airlines and economic conditions impacting upon the success of the airline and industry generally.