Far & Wide Info

TO:

All Consumers Affected by the Far & Wide Bankruptcy

FROM:

Robert Whitley, President, United States Tour Operators Association (“USTOA”)

As most of you know, December 31, 2003, was the deadline for filing a claim with the USTOA $1 Million Consumer Protection Plan (the “Plan”) for losses of deposits or payments to Far & Wide.

We have received thousands of claims totaling in excess of $10 million in losses. This means that the one million ($1,000,000) dollars held by the Plan for Far & Wide consumers will pay less than ten cents on the dollar. We are still processing claims received as of December 31, 2003. Once all claims are processed, we will be issuing checks to all claimants.

In my 25 years as President of USTOA, I have not seen a tour operator failure as large as the Far & Wide failure. It is unfortunate that the USTOA $1 Million Consumer Protection Plan cannot fully reimburse consumers for all their losses. However, USTOA has retained, at its expense (along with assistance from the National Tour Association), a major bankruptcy law firm in Miami--Genovese, Joblove & Battista--to pursue the claims of consumers in the bankruptcy proceeding. Far & Wide has raised more than $10 million by selling off some of its assets. We are hopeful that, by providing the opportunity for consumers to act together, a compelling argument can be made to the Bankruptcy Court that consumers should share in these assets. Any recoveries, net of the legal fees and expenses, will be returned to the consumers.

In the near future, we will be asking all of the consumers who have submitted claims to the Plan to sign an agreement authorizing USTOA and its attorneys to represent them in the Bankruptcy proceeding. Even if you have already filed a claim with the Bankruptcy Court, we can still represent your interest.

I will keep you informed of our progress and will post updates on this website as additional events transpire.

IMPORTANT FAR & WIDE INFO