Press Release

Gate Gourmet Makes Strategic Investment in Pourshins

RESTON, VA, September 6, 2007 – Pourshins Limited and Gate Gourmet jointly announced today that a strategic investment has been made in Pourshins, a U.K.-based company specializing in logistics solutions for airlines, caterers, suppliers and manufacturers. Pourshins operates in Europe, Asia and North America.

"Having developed extremely successful new supply chain products, it is both exciting and refreshing for Pourshins to call on the financial and commercial support of Gate Gourmet," said Pourshins founder Roy Moëd. "With our expansion gathering momentum in the U.S., we expect to be able to develop our Business Process Outsourcer (BPO) products elsewhere in the growing markets around the world."

Moëd said Pourshins has been seeking an appropriate investor for some time and wanted a partner who understands the BPO space in which it operates. "Gate Gourmet has significant parallel experience and fully understands the need for businesses in the travel sector to outsource non-core activities and make full use of their assets," he said.

Andrew Gibson, President of Gate Gourmet's North America region, said: "Pourshins is a true fourth-party logistics service provider (4PL), which combines process, people and technology to create a 'virtual' supply chain management solution that is flexible, responsive and cost effective. As with our recent investments in design and packaging specialists Packattack and POTM, and our pending acquisition of deSter/Supplair, world leaders in passenger contact and comfort items and alternative airline meal solutions, this transaction demonstrates Gate Gourmet's commitment to build a service responsive to customers' needs."

The transaction will help expand Gate Gourmet's product portfolio and bring to its customers state-of-the-art standards in efficiency, quality and flexibility. "Pourshins is an expert in logistics. Our eGate Solutions suite also offers logistics management. We intend to capture the synergies between both companies to the advantage of our customers," Gibson said.

Founded in 1978, Pourshins is a private company specializing in data and contract management to provide logistics solutions. The company no longer manufactures products or represents suppliers, but manages a supply chain that extends across the globe for products including frozen, ambient and chilled food, airline equipment, bonded goods and in-flight retail stock. Turnover in 2006 was over $100 million.

Gate Gourmet is the world's largest independent airline catering and logistics company with dual headquarters in Zurich, Switzerland, and Reston, VA, USA. Revenue in 2006 was 2.4 billion Swiss francs. With approximately 20,000 employees worldwide, Gate Gourmet produces an average of 200 million meals annually, serving customers from 93 flight kitchens in 25 different countries and five continents.

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).