Advertising and Marketing Opportunities with Odyssey Media Group

Travel Agents

 January 23, 2001
Uniglobe.com Announces Additional Financing

 Uniglobe.com Inc. today announced a financing for US$2.345 million with Westmark Hotels, Inc., an Alaskan corporation that owns and operates 15 hotels and caters to the general tourism and cruise business.

Westmark is providing the US$2.345 million as a loan repayable over a five-year term ending December 31, 2005. The loan is to be repaid based upon a percentage of certain commission revenues earned by the Company, subject to minimum annual payments. Westmark has an option to convert any sums owing at the end of the five-year term into Class B common shares of the Company at the then current market price less a 15 percent discount. The loan bears interest at the US prime rate from time to time, payable quarterly. If Uniglobe.com achieves certain annual sales goals, fifty percent of this interest will be forgiven by Westmark.

Uniglobe.com will issue to Westmark, as a bonus, C$700,000 worth of Class B share purchase warrants at the market price on the closing date of this transaction. The financing is expected to close at the end of January or early February 2001. This transaction is subject to receipt of all necessary regulatory approvals.

"We are extremely pleased to have Westmark help finance the growth of Uniglobe.com. These funds, along with the recent US$3 million Amadeus financing, provide sufficient financing under the Company's current budget and medium-term planning to cover expenses until the Company is in a positive cash flow position. The proceeds will be used for marketing purposes to attract more Internet travel consumers to our site," said Christopher Charlwood, President of Uniglobe.com