Venture capitalists book into

Investee Company – All-Hotels Limited

Investee Company Country – UK

Investee Company Business Type – Internet-based services for hoteliers and travel consumers

Type of Financing – Second round

Equity Providers- 3i, Royal Bank of Scotland, and Scottish Equity Partners

Equity Leader (Individuals) – Robin Winning, 3i

Debt Providers – N/A

Debt Type – N/A

Debt Leader (Individual) – N/A

Equity Amount – £3 million

Total Deal Value – £3 million

Other Advisors – McGrigor Donald

Comments – Established in Edinburgh in 1998 All-Hotels has already received funding from both Royal Bank of Scotland and Scottish Equity Partners. The company will use the funding announced today to continue its growth, which is illustrated by total sales of over £8 million so far this year.

All-Hotels’ website, which currently receives 750,000 visitors each month, provides international reservation services for travellers and is linked to nearly 60,000 hotels. Over 120,000 hotel room nights have been booked this year using the site.

All-Hotels third quarter expansion has included a-Res, a software package enabling hoteliers to receive bookings and manage their room inventory on-line, and a-Book, a database inquiry system.

In addition, last quarter the company launched to provide hoteliers with access to a-Res, industry news and information on suppliers and job availability.

Jane Karwoski, All-Hotel’s chief executive officer said: “The current finance raising market is particularly difficult for Internet companies because investors are taking a critical view of the sector. This stage of funding confirms our position as a strong player in the industry.”

Robin Winning, investment manager at 3i commented: “All-Hotels has clearly demonstrated it can compete globally in online travel”, a market which is expected to exceed £16 billion by 2003.