GRAND ADVENTURES TOUR & TRAVEL REPORTS RECORD SECOND QUARTER REVENUES AND EARNINGS

Source: Grand Adventures Tour & Travel Publishing Corp.

July 13, 1999
Grand Adventures Tour & Travel Publishing Corporation has announced a $.04 per share profit for the second quarter ended June 30, 1999.

During the quarter, the company's revenue increased 74 percent to $7.3 million compared to revenue of $4.2 million reported during the quarter ended June 30, 1998. Net income for the current quarter was $111 thousand as compared to a loss of $150 thousand for the prior year quarter.

For the six months ended June 30, 1999, gross revenue was $13.3 million and net earnings were $137 thousand or $.05 per share. This represents an increase of 90 percent over the prior year first six months revenue of $7.0 million. Net loss for the six months ended June 30, 1998 was $413 thousand or $.14 per share.

GATT Chairman and Chief Executive Officer, Matthew O'Hayer stated: "The aggressive advertising sales program rolled out at the beginning of 1999 and the expanded marketing distribution which began in 1998 have contributed to substantial increases in both the travel revenue and advertising revenue arenas that the company is now experiencing."

The company's advertising revenue also increased significantly with $1.1 million earned for first six months of 1999 as compared to $400 thousand for the comparable period of 1998.

"The increase in revenue during 1999 indicates our marketing efforts are proving effective and GATT is gaining recognition from the interliner industry. Management is committed to it's efforts of expanding interliner awareness about GATT, growing destination offerings and maintaining it's market leader position," Mr. O'Hayer concluded.

GATT is the leading supplier of leisure travel information and travel related services to the airline employee market ("interline") worldwide. The airline employee market includes present and former airline employees and their families. GATT's two divisions, Interline Adventures, the industry's premiere travel magazine, and Interline TravelReps, a full-service airline employee travel company with more than 40 cruise lines, and over 1,400 hotels and resorts, serve as an unparalleled resource to the interline travel market.

Statements about the company's future expectations, including future revenues and all other statements in this news release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such forward-looking statements be subject to the safe harbors created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the company's actual results could differ materially from expected results.