Corporate Travel Management Ltd announced today a 1 for 21 pro-rata renounceable entitlement offer at an issue price of $15 per share to raise approximately $71.085m. The Funds will be used to acquire Andrew Jones Travel and Redfern Travel. The issue price represents a discount per share of 6.4% to the theoretical ex-rights issue price or 9.9% to the 5 day VWAP.

Morgans Corporate is the Underwriter. For further information please see www.travelctm.com