Travel Clearance Sale

Ft. Lauderdale, FL, November 27, 2007 – Established cruise executive and highly-regarded international financier Albert Peter today announced the formation of Jewel River Cruise Line, a new company that aims to revolutionize the world of river cruising. The new venture will feature independent brands with a singular mission to provide the highest quality river cruise experience within distinct market segments that include: Jewel River Cruises, introducing a new boutique-luxury level of river cruising; Emerald River Journeys, a premium line; and, the contemporary Princess River Journeys.

Jewel River Cruise Line debuts in 2008 with six ships – including the industry’s first all-suite luxury river cruise ship – and plans to grow with the addition of two brand new all-suite luxury ships in 2009 and 2010.

“The river cruise market is experiencing a tremendous boom and we are creating a new collection of river cruise brands with the goal of being the dominant player in the industry,” says Chairman and CEO Peter. “We see the potential of river cruising as being so much more than a means of transportation from one beautiful port to another, but rather, a truly experiential way to explore some of the world’s most fascinating destinations.”

With deep roots in both luxury and river cruise travel, the founders and executive management team of Jewel River Cruise Line represent a level of expertise unmatched in river cruising. Peter, former CEO of Silversea Cruises, partnered with river cruise veteran Ulrich F. Baur and Swiss financier Eberhard Henter-Besting to form the Company.

Peter appointed luxury cruise professional Jacques Wulffaert, a former senior executive at Celebrity Cruises and ResidenSea, as President, COO and Member of the Board. Together they are assembling a team of industry professionals with several key executives and management already in place in the company’s offices in Ft. Lauderdale, Florida; Wollerau, Switzerland; and Oberwesel, Germany.

For 2008 the five ships within the premium and contemporary brands will be based in central Europe and are already fully chartered to European tour operators.