Press Release

Gate Gourmet Relocating Division Americas Headquarters to Northern Virginia

MEMPHIS, TN, November 3, 2004 - Gate Gourmet, one of the world's leading airline catering and logistics companies, today announced that it will relocate its Division Americas headquarters from Memphis to Northern Virginia. The company expects to begin its move immediately and be completed by December 2005.

The company anticipates that 20-30 employees and their families -- including most of its senior management team -- will move with the company to the Northern Virginia area. The company expects to hire approximately 200 employees in a variety of positions over the next 12 months.

"Northern Virginia has everything we were looking in a new U.S. headquarters," said David Siegel, chairman and CEO of Gate Gourmet. "In particular, we thank the leadership of Governor Mark R. Warner who was instrumental in convincing us that Northern Virginia was the best place to headquarter our business."

"Gate Gourmet's success depends upon our ability to increase our worldwide presence as a leading logistics provider for airlines," Siegel said. He noted that the company selected Northern Virginia because of its position as a major international gateway, favorable geography and unmatched access to a highly educated workforce.

With its move, Gate Gourmet is establishing a dual global headquarters with offices in Zurich and the Washington, D.C. metropolitan area. The move to the Dulles Corridor also puts Gate Gourmet in close proximity with the North American operations of many other leading European Aviation-related companies including Airbus Industries and Rolls-Royce PLC.

Founded in 1992, Gate Gourmet is the world's largest independent airline catering, hospitality and logistics company with dual headquarters in Zurich, Switzerland, and Reston, VA, USA. The company has substantially expanded its products and services recently through acquisitions and strategic investments. The portfolio now includes cabin service ware (deSter); comfort/entertainment items (Harmony); packaged food components assembled in central production units (Supplair); design and delivery of brand-linked customer environments (Performa); service staff recruitment and training and crew leasing (Elan); aviation services such as cabin cleaning, aircraft washing and deicing and passenger services (Fernley/IAS); catering security (Gate Safe); business applications (eGate Solutions); and supply chain optimization (partnership with Pourshins).