Kuoni Reisen Holding AG
Kuoni Travel Holding Ltd.: VFS Global wins key Saudi Arabian government visa services contract

Kuoni Reisen Holding AG  / Key word(s): Miscellaneous

23.08.2012 06:50

Release of an ad hoc announcement pursuant to Art. 53 KR
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VFS Global and TasHeel Modern Support Services Co. Ltd., a local partner of
VFS Global, have been awarded a contract to provide in a Joint Venture
(50:50) visa services for the Kingdom of Saudi Arabia. This prestigious
contract is the first one awarded in a global tender by the Ministry of
Foreign Affairs, Kingdom of Saudi Arabia, started in 2009.

Phased roll-out of operations will commence in December 2012 and will last
up to 12 months. This is the largest contract for VFS Global - not just in
terms of the size but also in terms of the scope of services to be
provided.

Although a significant influence over this joint venture exists, Kuoni does
not control it in accordance with the requirements of IFRS. Consequently,
this joint venture is financially recognized according to the equity
method. Kuoni's share of the joint venture's annual net profit is presented
as part of operating earnings (EBIT).

VFS Global, a part of the Kuoni Group, manages the non-judgmental,
administrative part of the visa application process for 38 sovereign
governments across 83 countries, as at 30 June 2012.  The company has
successfully processed over 48 million applications, for visa, passport or
other consular services, since its inception in 2001.


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Information and Explaination of the Issuer to this News:

FURTHER INFORMATION

ANALYSTS AND INVESTORS 

LAURENCE BIENZ
Head of Investor Relations
Kuoni Travel Holding Ltd.
Neue Hard 7
CH-8010 Zurich 
P +41 (0)44 277 45 29
laurence.bienz@kuoni.com

23.08.2012 News transmitted by EquityStory AG. 
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Language:               English
Company:                Kuoni Reisen Holding AG
                        Neue Hard 7
                        8010 Zürich
                        Switzerland
Phone:                  +41 44 277 4529
Fax:                    +41 44 277 4031
E-mail:                 laurence.bienz@kuoni.com
Internet:               www.kuoni-group.com
ISIN:                   CH0003504856
Swiss Security Number:  894861
Listed:                 Freiverkehr in Berlin, Stuttgart; Open Market in
                        Frankfurt; SIX
 
End of Announcement                             EquityStory News-Service
 
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