Press Release
June 4, 2001
SAN JOSE, CA -- Classic Vacation Group, Inc. (AMEX: CLV), one of the largest U.S. providers of customized vacation
products, today announced that Brian P. Froelich is joining the company as president and chief executive officer
of the company's Allied Tours division.
He is replacing Michael Fisher and Greg Fisher, formerly CEO and president of Allied Tours, respectively, who are
leaving the company to pursue other interests. Allied Tours creates and coordinates packages and tours for international
travel wholesalers selling vacations to North America.
``Brian Froelich brings a wealth of travel experience to the company. Not only did he own at one time, one of the
larger travel agencies in the U. S., he also has more than 15 years of senior management experience with American
Express,'' said Ronald M. Letterman, chief executive officer of Classic Vacation Group. ``We were colleagues at
American Express, and his expertise uniquely qualifies him for this position. His strengths blend well with the
rest of our seasoned Allied management team, led by Executive Vice Presidents Jane Rossmango and Marilyn Reis.''
Froelich most recently was Senior Vice President and General Manager of American Express Consumer Travel Services,
responsible for managing the company's U.S. leisure travel business, with approximately $2 billion in annual revenues.
In this position, he managed the company's owned retail travel agency network, the Representative Travel Network,
remote travel units, travel product units, travel business in Hawaii and the travel agency relations group. During
his tenure with American Express, Froelich was instrumental in helping shape the company's rapid growth in the
U.S. and international Travel Management Service business, where he successfully completed a number of domestic,
European and international assignments.
He holds a J.D. from Seton Hall Law School, an M.B.A. from Rutgers University and a B.S. in Finance from Boston
College.
Classic Vacation Group is a value-added provider of branded and private label vacation products and services. The
company recently changed its name from Global Vacation Group. Classic Vacation Group's brands include Classic Custom
Vacations, which creates customized vacation packages for U.S. travelers; Allied Tours, which creates and coordinates
packages and tours for international travel wholesalers selling vacations to North America; Island Resort Tours;
Amtrak Vacations; Hyatt Vacations; and International Travel & Resorts.
This press release may contain forward-looking statements about Classic Vacation Group, Inc., including those statements
regarding future operating results and the timing and composition of revenues, among others. Except for historical
information, the matters discussed in this press release are forward-looking statements that are subject to certain
risks and uncertainties that could cause the actual results to differ materially, including the following: the
ability of Classic Vacation Group to successfully implement its operating and acquisition strategies; the company's
ability to manage rapid expansion; significant leverage; changes in economic cycles; competition from other travel
companies; and changes in the laws and government regulations applicable to the company.
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Contact:
Classic Vacation Group
Debbie Lundquist, 408/882-8455
Chief Financial Officer
- or -
Daly Gray Public Relations
Jerry Daly, Carol McCune (Media)
703/435-6293