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PRESS RELEASE

For Immediate Release
Contact: Debra Kelman 212-794-DKPR (3577)
dkelman@dkpr.com

NATION’S PREMIER TRAVEL AND TOURISM ORGANIZATION ANNOUNCES NEW MEMBERS

TRAVEL BUSINESS ROUNDTABLE’S NEW MEMBERS ARE AS DIVERSE AS THE INDUSTRY ITSELF

WASHINGTON, D.C. - July 11, 2000 -- The Travel Business Roundtable (TBR), a coalition of 60 CEO’s representing all sectors of the travel industry whose mission is to educate elected officials on the important contributions travel and tourism makes to the nation’s economy, has announced four new members.

These include Robert S. Taubman, President and CEO of Taubman Centers, Inc.; Jeff Wasson, Co-CEO of TravelNow.com; Larry Alexander, President and CEO of the Detroit Metro Convention and Visitors Bureau; and Jacob L. Coin, Executive Director of the National Indian Gaming Association (NIGA).

Taubman Centers, Inc.

As one of the preeminent retail developers/owners/ managers in the United States for the past 50 years, Taubman Centers, Inc. is a real estate investment trust that acquires, operates, and develops regional shopping centers. Currently, the company owns and/or manages 27 urban and suburban regional and super regional shopping centers in 12 states. Headquartered in Bloomfield Hills, Michigan, the company’s properties are located primarily in Michigan and also in California.

Demonstrating the powerful connection between shopping and travel, the company recently announced the creation of the first ever "World Class Shopping University," a progressive shopping and tourism course of study for the travel industry. Designed as a fun and educational experience, the non-accredited World Class Shopping "U" will familiarize travel industry professionals with the diverse and exciting tourism opportunities that shopping centers offer.

More information is available at the company’s website, at www.taubman.com.

TravelNow.com

Launched in March 1995 as the first independent hotel reservation service on the Internet, TravelNow.com now includes on-line booking services for hotels, cruise lines, airlines, rail passes, and rental car companies.

With more than 40,000 hotel rooms in 8,000 cities worldwide, TravelNow.com was recently voted by users to be the easiest and most comprehensive hotel reservation site on the Internet.

In addition to being able to provide reservations for individuals, TravelNow.com also offers assistance for groups of 20 or more people. For more information or to make reservations for groups or individuals, visit www.travelnow.com.

Detroit Metro Convention and Visitors Bureau

With travel and tourism ranked as the city’s second largest industry, the Detroit Metro Convention and Visitors Bureau (DMCVB) is a nonprofit organization promoting metro Detroit as a convention and visitor destination. The DMCVB is the only organization that promotes Detroit regionally, nationally and internationally as a desirable location for conventions, tradeshows, corporate meetings and tourism.

TBR’s membership roster also includes representatives from convention and visitors bureaus in Los Angeles, Miami, Las Vegas and New York City.

The National Indian Gaming Association,

Established in 1985, the National Indian Gaming Association (NIGA), is a non-profit organization of 168 Indian Nations with other non-voting associate members representing organizations, tribes and businesses engaged in tribal gaming enterprises from around the country.

And, while NIGA operates as a clearinghouse and educational, legislative and public policy resource for tribes, policymakers and the public on Indian gaming issues and tribal community development, its overall mission and purpose is to advance the lives of Indian peoples - economically, socially and politically, and to protect and preserve the general welfare of tribes striving for self-sufficiency through gaming enterprises in Indian Country.

To fulfill its mission, NIGA works with the Federal government and Congress to develop sound policies and practices and to provide technical assistance and advocacy on gaming-related issues. In addition, NIGA seeks to maintain and protect Indian sovereign governmental authority in Indian Country.

"The addition of these four new members is representative of the growth and diversity of the travel and tourism industry," notes Jonathan Tisch, President and CEO of Loews Hotels and Chairman of the Travel Business Roundtable. "TravelNow.com demonstrates the growth of the on-line travel and tourism industry, which is expected to generate more than 16 million bookings this year; while a real estate company specializing in shopping center development underscores the important role shopping plays in the industry as the number one activity for domestic and international travelers alike. We’re also very pleased to be adding another convention and visitors bureau to our membership, as it reflects how important travel and tourism is to the nation’s major cities where it is the first, second or third largest industry. And, the NIGA’s presence on the TBR roster underscores the growth and popularity of gaming resorts and destinations throughout the country."

The Travel Business Roundtable is a coalition of more than 60 CEO’s representing all sectors of the travel and tourism industry. In addition to the major airlines, car rental companies, travel management agencies, hotel chains, TBR’s membership roster also includes companies such as The Coca-Cola Company, USA Today, and the International Council of Shopping Centers, demonstrating the broad scope and diversity the industry represents.

Chaired by Jonathan Tisch, President and CEO of Loews Hotels, TBR’s mission is to educate elected officials on all levels of government on the important contributions the travel and tourism industry makes to the nation’s economy. Among the issues it is currently addressing include full restoration of the business meals deduction, welfare to work tax credits, elimination of taxes on frequent flyer miles, and opposition to an increase in the minimum wage.

Projected to be the world’s largest industry within the next decade, travel and tourism is the nation’s third largest retail industry and second largest employer with more than 17million Americans employed directly or indirectly in travel and tourism. As America’s leading services export, travel and tourism created a trade surplus of nearly $12 billion in 1999, generating $82 billion of tax revenue and $541 billion in total expenditures.

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