Press Release 3/01/02
GoldenCityGuides.com Growth for the Year 2001
GoldenCityGuides.com
Contact:
Donna@GoldenCityGuides.com
1-800-805-3559

"2001 was a very strong beginning year (our first full year) for GoldenCityGuides. We are very pleased to have exceeded expectations in a time of economic uncertainty marked by one of the worst downturns in the travel industry in recent history" said Rick Golden, chairman and chief executive officer of Golden Interests, Inc. the parent company of GoldenCityGuides.com.

"Because of the precipitous decline in travel, major airlines eliminated over 20% of their schedules and hotels on average reduced rates by approximately 17%. Yet, we were still able to show solid growth in revenue and nights booked. We are most excited about the growth of 145% in room nights sold, albeit at slightly lower rates that 2000. As room rates begin to increase over this year, we would expect to benefit even more from the high growth in our transaction volumes." Mr. Golden continued.

"In our first full year in this business we have proven ourselves to be a premier supplier of accommodation values in the 45 markets we serve. In this economic slowdown our lodging partners have turned to us for continued support in filling rooms, and new properties have come to us because of our demonstrated track record. We added 667 new rooms in the fourth quarter, the most ever added in a single quarter, and had total of over 4,700 properties at the end of 2001."

"We continue to invest in infrastructure for our budgeted growth in the future," Mr. Golden noted. "2002 has also started off well," Mr. Golden added. "While hotel pricing has not yet rebounded to the levels of previous years, our business is still growing rapidly. We set several new daily booking records in February, including the dollar amount of sales booked, the number of room nights booked, and the number of customer transactions.

We are very encouraged by these trends." Nicole Palmer, CFO of Golden Interests, Inc., stated, "To build on this momentum, GoldenCityGuides.com intends to launch a site a week for the remainder of 2002. These new websites, will launch with added enhancements to our basic templates. Local news, discounted condo vacation rentals, and enhanced weather reporting will increase the existing functionality and features of our destination guides.

We believe this will further increase our distribution and sales conversion rate of lookers to bookers. We will be supporting this brand launch and the additional site launches with an advertising and public relations campaign that will consist of print and on-line media throughout 2002. We expect to spend at least $150,000 for this new campaign in the next year". Mrs. Palmer continues "We believe that the worldwide lodging market is so vast -- with over $250 billion in annual sales -- that there is more than ample room for us to build our own proprietary brand name. We think that our branding campaign will help to increase the consumer's general awareness of booking hotels and lodging over the Internet and through GoldenCityGuides.com. We have barely scratched the surface of the potential of this huge market." Mrs. Palmer further stated, "GoldenCityGuides.com is pleased with the performance of our affiliations with HRN, Travelnow and Acenet (the major consolidator of rooms in Atlantic City, NJ) As a result of these affiliations and other efforts, GoldenCityGuides.com produced a substantial increase in revenue 2001.