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Investor Presentation

Information for Professional Investors- please see Disclaimer

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Presentation Online TravelInternationally

The Webjet Model

Webjet Results and Forecasts Base Forecast

Gulf Impact

Margin Improvement

Capital Raising

Why Invest?

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Online Travel is Growing at FourTimes Normal Travel

The worldwide online travel marketis growing at 30% per annum. The value of U.S. online travel will grow fromUS$25 billion in 2001 to around US$65 billionby 2005.

Source: PhoCus Wright

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US Online Travel to grow from 12%to 26% by 2005

US$

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International Comparisons2002 v 2001 Results ExpediaUS/EU

Gross Sales 5.3B up 82%

Net income 66M v 21M loss

Hotels Sales up 156% and tour packages up170%

EbookersEU Gross Sales 273M up 52%

Net loss 12M v 26M loss - halved

Hotels Sales up 124% and tour packages up163%

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Overseas Travel Stocks Expedia(US) and ebookers (EU)

Sept 11

Gulf

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Expedia Outperforms the Dow Jones

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Webjet Model Pure online travel company

Local version of high growth overseas players

Low cost base allows revenue growth to flow

to bottom line Strategic Galileo alliance and shareholding

ensures access to air inventory

Broadening base into high growth hotel and

tour package sales

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Webjet Broadening Distribution Hotels

Launching Bookabed website

Worldres relationship

Galileo/Cendant relationship

Travel Industry White Label other Travel Brands

Technology Dynamic Packaging

Galileo/Microsoft relationship

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Online Travel Stocks - Australia

Gulf

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0

0.5

1

1.5

2

2.5

Jan Feb Mar Apr May Jun

2003

2002

Gulf War Impact Sales A$MDefensive earnings base65% Webjet sales

are domestic travel

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Financial Scenarios Scaleable Model

Base Line

Gulf Impact

Margin Improvement

What If Graph Impact New Land Arrangements

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$m

p.a

2002 2003 2004 2005

Financial Year

2

4

6

8

10

12

14

16

18

20

Total Expenses

Net Revenue

Net Profit

Scaleable Business Model

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Base Line - What If ScenarioCalendar Years 1H 02 2H 02 1H 03 2H 03 1H 04

Gross Transaction Value

(Qtr to Qtr Growth)

$8.9m $9.8m $15m $20m $30m

Income $0.6m $0.7m $1.1m $1.4m $2.1m

Expenses (net of interest income) $1.6m $1.5m $1.4m $1.5m $1.6m

Net Profit/ (Loss) ($1.0m) ($0.8m) ($0.3m) ($0.1m) $0.5m

Net. Op. Cash Flow ($0.4m) ($0.9m) ($0.4m) ($0.3m) $0.4m

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Gulf Impact - What If ScenarioCalendar Years 1H 02 2H 02 1H 03 2H 03 1H 04

Gross Transaction Value

(Qtr to Qtr Growth)

$8.9m $9.8m $11.4m $20m $30m

Income $0.6m $0.7m $0.8m $1.4m $2.1m

Expenses (net of interest income) $1.6m $1.5m $1.3m $1.5m $1.6m

Net Profit/ (Loss) ($1.0m) ($0.8m) ($0.5m) ($0.1m) $0.5m

Net. Op. Cash Flow ($0.4m) ($0.9m) ($0.6m) ($0.3m) $0.4m

Assumes Gulf War Impact on Travel Limited to First Half 2003

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Margin Improvement - What IfScenarioCalendar Years 1H 02 2H 02 1H 03 2H 03 1H 04

Gross Transaction Value

(Qtr to Qtr Growth)

$8.9m $9.8m $15m $20m $30m

Income $0.6m $0.7m $1,1m $1.6m $2.4m

Expenses (net of interest income) $1.6m $1.5m $1.4m $1.5m $1.6m

Net Profit/ (Loss) ($1.0m) ($0.8m) ($0.3m) $0.1m $0.8m

Net. Op. Cash Flow ($0.4m) ($0.9m) ($0.4m) ($0.1m) $0.7m

Assumes that Margin Improvement first reflects in 2H 03and is sustainable

Expected higher margins from tour package and hotel sales in 1H 04excluded, as is any development cost

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What If Scenarios

-0.6

-0.4

-0.2

0

0.2

0.4

0.6

0.8

1H 03 2H 03 1H 04

Base Line

Gulf Impact

Margin Improve

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Broader Land Distribution- What If ScenarioCalendar Years 1H 03 2H 03 1H 04 2H 04 1H 05

Existing Business Mix

New Land Arrangements

$15m $20m $30m $35m

$ 4m

$40m

$ 8m

Total Gross Turnover $15m $20m $30m $39m $48m

Income $1.1m $1.4m $2.1m $2.8m $3.5m

Expenses (net of interest income) $1.4m $1.5m $1.6m $1.9m $1.9m

Net Profit/ (Loss) ($0.3m) ($0.1m) $0.5m $0.9m $1.6m

Net. Op. Cash Flow ($0.4m) ($0.3m) $0.4m $0.8m $1.4m

Assumes Aggregate Impact of New Land ArrangementsBookabed, Galileo/Cendant,Dynamic PackagingLand Margins of 8%Tapering Off of Existing Business Growth RatesTSA Platform estimated cost of $2M amortised over 5 years

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Broader Land Distribution- Next 2 Years What If

0

10

20

30

40

50

60

1H 03 2H 03 1H 04 2H 04 1H 05

-0.5

0

0.5

1

1.5

2

Gross Sales

Net Profit

Breakeven

Net ProfitAxis

Gross SalesAxis

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Capital Raising Raising $3.6M

Galileo contributing $1.8M to grow their shareholdingfrom 4% to 20%

Webjet will raise $1.8M via Institutional placementand Shareholder Purchase Plan (SPP - underwrittenby Intersuisse).

Webjet has completed arrangements for $1.0M

Price = 5 cents per share

SPP closes 24 April 2003

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Funds to be Used For Strengthen Balance Sheet - $1.8M

Microsoft (MS) Development - $1.8M

MS Dynamic Packaging Development Overseas Growth Model

Higher Margins from Hotels and Tour Packaging

E.g margins of 8-10% v 7-8% on Air

To be completed at MS Development Center inSydney

By early 2004

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Galileo Wholly owned subsidiary of Cendant Corp

(NYSE:CD). Market Cap 14 Billion.

Has market share of one third of all automated travel

reservations worldwide. Competitors areSabre/Amadeus

Galileo provides 45,000 travel agents access &bookings for

501 airlines 31 car rental companies

51,000 hotel properties

400 plus tour operators and all major cruise lines.

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Cendant Travel Services

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Significance of Galileo to Webjet Ability to leverage off Galileos global footprint.

Offers a superior booking interface, with increasedreservation capacity and functionality.

Access to Cendant Group companies such as Avis,Budget, Best Western Hotels and RCI timeshare.

Establishes Webjet as launch partner in Australia forGalileos Trip.com business, offering cross referral of

customers and products.

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Attractions of the Webjet Model Proven Sustainable Business Model

Overseas Online Travel Parallels to follow

Online travel model is here to Stay

Webjet is the Australian Market Leader

Scaleable model - High Growth at low Marginal Cost

Improving Margins

Distribution Base ImprovingIndustry Rationalising Move into Dynamic Packing with Microsoft/Galileo

Information for Professional Investors- please see Disclaimer

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Appendix - 20 Largest Shareholders Pre-FundingName Number of Ordinary Shares Held %

Mr Steven Scheuer 29,399,143 19.69

Capstan Nominees Pty Ltd 7,610,000 6.14

Mr John Lemish 5,088,350 4.11

Southern Cross Distribution Systems Pty Ltd 5,000,000 4.04

Ms Angela Knell 4,185,481 3.38

Mr David Clarke 3,984,444 3.22

Denlie Pty Ltd 2,271,801 1.83

ANZ Nominees Limited 2,091,500 1.69

Mr Rhett Gary Harris 2,069,752 1.67

Wellington Custodians Pty Ltd 1,793,778 1.45

King-Eng Tan 1,770,147 1.43

Obelisk Nominees Limited 1,664,171 1.34

Kasko Pty Ltd 1,300,000 1.05

Brincliff Pty Ltd 1,258,433 1.02

Mrs Karina Harris 1,177,796 0.95

Turelin Nominees Pty Ltd 1,144,815 0.92

Mr David and Mrs Diane Bowen 1,000,000 0.81

Mr Robert Karl Stahl 983,064, 0.79

Ms Suzanne Kay Arnall 930,000 0.75

Muzzledick DSL Pty Ltd 925,000 0.75

70,647,675 57.03

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Directors and Management Allan Nahum Chairman, Current Partner

Meyrick Webster

David Clarke MD, former CEO Jetset Travel Ben Lochtenberg Deputy Chairman formerChairman, Orica Ltd John Lemish Operations Director, 20 yrs

travel industry experience

Steven Scheuer Non Exec Director Dean Maidment Business Development Mgr Richard Noon - Corporate Affairs, 25 yrs travel