ASIA MILES BECOMES FIRST TRAVEL REWARD PROGRAMME IN ASIA TO LAUNCH MILEAGE BASED INTERNET AUCTION

Asia Miles has become the first Travel Reward Programme in Asia to launch "iAuction", a mileage based Internet auction site. Asia Miles iAuction allows members to bid their Asia Miles for exciting products such as award flights, travel packages and events, online at the Asia Miles Website. iAuction will offer members great discounts on award flights and the opportunity to bid their Asia Miles for special offers.

Starting 3 October 2000, Asia Miles iAuctions will be held every two weeks with each auction lasting between 4 and 7 days. Bidding online is easy. Asia Miles members can view and bid for products at the iAuction site in the members' area . Members are automatically notified via email if they were outbid and they can go online to bid again. Winners are immediately notified of their success via email once the auction closes. Visitors to the site can also view the auction.

"Asia Miles iAuction broadens the scope of mileage redemption and confirms our commitment to develop more exciting ways to reward our members" says Ron Mathison, General Manager Cathay Pacific Loyalty Programmes.

Members can bid to play at the Cathay Pacific Champions Pro-Am Tennis Event to be held in Hong Kong on 29 October 2000. Also on auction are Cathay Pacific Round Trip Award flights in Economy Class to Johannesburg, Sydney, Cairns and Karachi. Bidding started on 3 October 2000 and ends on 10 October with the minimum bid as low as 5,000 Asia Miles for some products. The second auction will be held on 17 October 2000.

Asia Miles is Asia's leading Travel Reward Programme with 12 air partners and more than 40 non-air partners. Air partners include oneworld* alliance members Cathay Pacific, American Airlines, British Airways, Finnair, Iberia, Qantas, Aer Lingus, LanChile, as well as Swissair and its partners, Japan Airlines and Dragonair. The air partners fly to more than 850 destinations worldwide.

Non-air partners include financial services, hotels, car hire, telecommunications and Internet companies. Cathay Pacific Holidays is also a partner of Asia Miles.