1020265--2/23/2007--SABRE_HOLDINGS

related topics

{system, service, information}

{operation, international, foreign}

{product, market, service}

{customer, product, revenue}

{acquisition, growth, future}

{investment, property, distribution}

{personnel, key, retain}

{stock, price, share}

{capital, credit, financial}

{financial, litigation, operation}

{operation, natural, condition}

Completion of the sale of the Company to Silver Lake Partners and Texas Pacific Group is subject to various conditions and the transaction may not occur even if we obtain stockholder approval. Failure to complete the sale of the Company could negatively impact the market price of our Common Stock and operation of our businesses. Our revenues are highly dependent on the travel and transportation industries, and particularly on air travel, and a prolonged substantial decrease in travel transaction volumes could adversely affect us. Changes to our travel supplier relationships may reduce our revenues. Travel suppliers are pursuing distribution options that may reduce our access to content, which could reduce our revenues. Customers may reduce transactions through our distribution channels, which could reduce our revenues. Consolidation in the travel industry and increased competition for customers may increase costs and reduce revenue. Travelocity s revenue growth largely depends on international growth and on expanding net rate (merchant) programs. We may be unsuccessful in pursuing and integrating business combinations, strategic alliances, or products and technologies, which could result in increased expenditures or cause us to fail to achieve anticipated cost savings or revenue growth. Rapid technological changes and new distribution channels or unauthorized use of intellectual property may adversely affect the value of our current or future technologies to us and our customers, which could cause us to increase expenditures to upgrade and protect our technology or develop and protect competing offerings in new distribution channels. We will encounter risks and difficulties similar to those frequently experienced in rapidly evolving industries such as the travel distribution industry. We rely on third parties to provide critical systems and infrastructure. Our success depends on maintaining the integrity of, and upgrading the quality of, our systems and infrastructure, which may suffer failures, capacity constraints and business interruptions, which could increase our operating costs and cause us to lose customers. Our collection, processing, storage, use and transmission of personal data may be restricted or result in liabilities. Tax issues have the potential to have an adverse effect on our financial condition and results of operations. Regulatory developments in Europe could limit our ability to compete by removing key protections needed to safeguard competition where locally strong airlines retain ownership interests in a CRS, and regulatory developments elsewhere could, among other things, inhibit our flexibility to contract with airlines or travel agencies, which could cause our customers to be diverted to our competitors and adversely affect our revenue and results of operations. Our international operations are subject to other risks, which may impede our ability to grow internationally and adversely affect our overall results of operations.

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1020265--2/23/2007--SABRE_HOLDINGS_CORP