PRESS RELEASE
Friday, 11 December 2009

2009 Annual Results
Stable Villages Operating Income and higher operating margins despite a 9% decline in revenue Net loss before non-recurring items at €3 million close to break-even Winter bookings over the past eight weeks up 21.5%, reflecting high volume of late bookings Deployment of Club Med in China, a major growth driver
• • • • • • • Village revenue down 9% like-for-like, with an 8% capacity adjustment 13,000 increase in the number of 4 and 5 Trident customers, who are now in the majority €63 million in productivity gains, versus €31 million announced in December 2008 Stable Operating Income Villages at €36 million, versus €35 million in 2008 Net loss of €53 million, including negative non-recurring items of €50 million Signature of a new €120 million credit facility expiring December 2012 Expansion in China, with five managed villages scheduled to open in the next five years and a growing marketing presence
2007 Revenue Total reported revenue IFRS 5(1) Like-for-like village revenue (€m) Customers (000’s) o/w 4-5 Trident customers (000’s) Occupancy rate Like-for-like RevPAB (3) EBITDAR Villages (4) (€m) 1,401 1,382 1,324 595 68.2% €85.5 210 1,484 1,477 1,361 656 70.9% €91.8 248 1,360(2) 1,344 1,228 669 69.2% €91.4 254 2008 2009

Reported (in €m) Operating income - Leisure Credit card costs Operating income - Villages

2007

2008

2009

27 (9) 18

45 (10) 35

45 (9) 36

As a % of revenue 15.0% 16.7% 18.9% Operating income - Villages * 18 35 36 (1) In accordance with IFRS 5, adjusted to exclude Club Med World (2) Including €16 million in revenue from villa sales (3) Revenue Per Available Bed (RevPAB) = Total like-for-like Village revenue excluding tax and transportation/Available beds. (4) EBITDAR Villages = Villages earnings before interest, taxes, depreciation and amortization and rents.

Commenting on the 2009 results, Chairman and Chief Executive Officer Henri Giscard d’Estaing said: “We are