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RCG Companies' Vacation Express Subsidiary Announces Deal with TransMeridian Airlines To Add Puerto Rico as a Destination from Six U.S. Cities CHARLOTTE, N.C. --(Business Wire)-- April 28, 2004 -- RCG Companies Incorporated ("RCG") (AMEX: RCG) announced today that its wholly owned Vacation ExpressTM subsidiary has signed an agreement with TransMeridian Airlines that will allow for Vacation Express(TM) to market air-inclusive vacation packages to San Juan, Puerto Rico, from six U.S. cities.Next month, Vacation Express(TM) (www.vacationexpress.com) will begin selling air and hotel packages to San Juan, Puerto Rico originating on Vacation Express(TM) flights from Atlanta, Baltimore, Charlotte, Cincinnati, Louisville and Nashville. These flights will connect at the Vacation Express(TM) hub in Orlando onto TransMeridian non-stop flights to San Juan International Airport (SJU). Vacation Express(TM) currently operates a hub in Orlando Sanford International Airport that serves Mexico, Costa Rica and Caribbean destinations. TransMeridian Airlines agreed to adjust its scheduled flights to and from San Juan in order to coordinate with arrivals and departures of Vacation Express(TM) flights. Vacation Express(TM) is one of the nation's largest tour operators and is headquartered in Atlanta, Georgia. Vacation Express(TM) sells air-inclusive vacation packages to leisure destinations utilizing its own fleet of passenger jets provided by Pace Airlines and Sky King Airlines. Vacation Express(TM) also sells packages by purchasing seats on a wholesale basis from Delta Airlines, AirTran, ATA and Hooters Air. About RCG Companies Incorporated RCG Companies Incorporated (www.rcgcompanies.com) is focused on delivering to its shareholders rapidly growing, relatively low-risk revenues, along with increasing earnings per share. The majority of RCG's revenues are currently derived from its wholly owned travel service organization, Flightserv, Inc., which delivers leisure and vacation travel packages under the SunTripsTM and Vacation ExpressTM brands, together making Flightserv one of the largest leisure travel tour operators in the United States. RCG is also involved in the technology services sector, through its wholly owned software and information technology services segment, Logisoft Corp. Statements in this news release about anticipated or expected future revenue or growth or expressions of future goals or objectives, including statements regarding whether current plans to grow and strengthen the company's existing network will be implemented or accomplished, are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements in this release are based upon information available to the Company on the date of this release. Any forward-looking statements involve risks and uncertainties, including the risk that the Company will be unable to grow or strengthen its network due to a lack of capital or an inability to identify acquisition candidates and that the Company may not realize anticipated cost savings or revenue growth opportunities associated with restructuring certain operational and financial policies, procedure, and contracts of Vacation Express(TM) and SunTrips(TM). Additionally, forward-looking statements concerning the performance of the travel and leisure industry are based on current market conditions and risks, which may change as the result of certain regulatory, political, or economic events, a shift in consumer travel preferences, as well as those risks and uncertainties described in the Company's filings with the Securities and Exchange Commission ,which could cause actual events or results to differ materially from the events or results described in the forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements. |
