Transat A.T. Inc. secures credit facility

    TRZ.B; TRZ.A (TSX)

    MONTREAL, Nov. 20 /CNW Telbec/ - Transat A.T. Inc. has entered into an
agreement with National Bank of Canada to provide a 5-year, $150 million
unsecured revolving credit facility and a 5-year $60 million secured revolving
letter of credit facility. The funds will be earmarked for acquisitions and
general corporate purposes.
    "This agreement provides us with increased flexibility to actively pursue
our strategic objectives, including entering into a hotel partnership in the
South and looking at expanding our outgoing markets base despite the current
disruption of credit markets (asset-backed commercial paper), which has
resulted in Transat having $154.5 million of its funds made unavailable in the
short term," said François Laurin, Vice-President, Finance and Administration
and Chief Financial Officer.
    Transat A.T. Inc. is an integrated international tour operator with more
than 60 destination countries and that distributes products in over
50 countries. A holiday travel specialist, Transat operates mainly in Canada
and Europe, as well as in the Caribbean, Mexico and the Mediterranean Basin.
Montreal-based Transat is also active in air transportation, destination
services and distribution. (TSX: TRZ.B, TRZ.A)

    Caution regarding forward-looking statements

    This news release may contain forward-looking statements regarding,
without limitations, the Corporation's financial, operational and regulatory
obligations, and the risks related to the repayment of asset-backed commercial
paper held by the company. Factors that could lead actual results to differ
materially from those contemplated by the forward-looking statements also
include general economic conditions, competition, extreme weather conditions,
disease outbreaks, war, terrorism, and other risks detailed from time to time
in the Corporation's continuous disclosure documents.
    These forward-looking statements, by their nature, necessarily involve
risks and uncertainties, many of which are beyond the Corporation's control,
that could cause actual results to differ materially from those contemplated
by these forward-looking statements. The Corporation considers the assumptions
on which these forward-looking statements are based to be reasonable, but
cautions the reader that these assumptions regarding future events, many of
which are beyond its control, may ultimately prove to be incorrect since they
are subject to risks and uncertainties that may affect the Corporation. For
additional information with respect to these and other factors, see the Annual
Information Form and Annual Report for the year ended October 31, 2006, filed
with Canadian securities commissions. The Corporation disclaims any intention
or obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise, other than
as required by law.
    %SEDAR: 00002758EF

For further information:

For further information: Media: Jean-Michel Laberge, (514) 908 4499;
Financial analysts: François Laurin, Vice-President, Finance and
Administration and Chief Financial Officer, (514) 987 1660; Source: Transat
A.T. Inc.,

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