TT. Tui Travel

RNS Number:0865S
TUI Travel PLC
10 April 2008



                                                                   10 April 2008

                                 TUI Travel PLC


S-Group Capital Management and TUI Travel PLC to jointly develop Russian leisure
                                tourism business


S-Group Capital Management Limited, Cyprus ("S Group") and TUI Travel PLC ("TUI
Travel") announce that they have signed a Memorandum of Understanding ("MOU") to
jointly develop TUI Travel's Russian and CIS* leisure tourism presence.


Under the terms of the MOU, a joint venture company will be established as the
investment vehicle of the parties with the objective of becoming a leading
player in the fast growing Russian and CIS leisure tourism markets.


"I am delighted we have taken this important step towards establishing the joint
venture company which will focus its business on the fast growing Russian
market.  We believe it offers significant opportunities that we will be able
explore jointly with our partner", said Alexey Mordashov.


Commenting on the co-operation Peter Long, CEO of TUI Travel said "I am very
excited by the huge growth potential of the Russian and CIS tourism markets and
I am delighted to join forces with such a substantial organisation as S Group to
develop our presence in the region."

*CIS (Commonwealth of Independent States)


Enquiries:


S-Group Capital Management

Irina Pchelova

CNC - Communications & Network Consulting AG

T +49 89 599 458-143

M +49 175 572 4998

Irina.Pchelova@cnc-communications.com



TUI Travel PLC

Press:

Lesley Allan - Corporate Communications Director

+44 (0) 1293 645 774



Hudson Sandler

Jessica Rouleau

+44 (0) 20 7796 4133



Analysts:

Andy Jones - Director of Finance & Investor Relations

+44 (0) 1293 645 795


About TUI Travel PLC

TUI Travel PLC is a leading international leisure travel group, which operates
in approximately 180 countries worldwide and serves more than 30 million
customers in over 20 source markets. Headquartered in Crawley, near Gatwick
airport in the UK, the Group employs approximately 48,000 people and for the
year ended 30 September 2007 generated proforma turnover and underlying
operating profits of �12.8 billion and �287 million respectively.  The company
mainly serves the leisure travel consumer and is organised and managed through
four business Sectors: Mainstream, Specialist & Emerging Markets, Activity and
Online Destination Services.


About S-Group Capital Management Limited


S-Group Capital Management is backed by Alexey Mordashov, CEO and major
shareholder of Severstal Group. S-Group Capital Management considers wide
variety of investment opportunities ranging from venture capital investments in
high technology companies to developing strategic partnerships with
international conglomerates in Russia. Geography of investments includes Russia,
US and Europe


Alexey Mordashov is a prominent Russian businessman. Among other positions he is
the CEO and major shareholder of OAO Severstal, an international, vertically
integrated steel producer with a listing on the Russian Trading System and the
London Stock Exchange. Severstal has a successful track record of acquiring and
integrating high-quality assets in North America and Europe. In 2007, Severstal
produced 17.5 million tons of steel. Revenues were $15.2 billion and EBITDA was
$3.7 billion.


The CIS comprises of eleven former Soviet Republics: Armenia, Azerbaijan,
Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Ukraine
and Uzbekistan.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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