FREEGATE TOURISM INC. NO LONGER USTOA MEMBER

New York, NY -- July 1, 2002 -- Effective July 1 Freegate Tourism has resigned its Active category membership in USTOA, following the company's purchase by its president, Ted Evangelatos. The company is therefore not presently covered under the USTOA $1 Million Consumer Protection Plan.

According to USTOA President Bob Whitley, Freegate clients who have paid for their vacations prior to July 1 are covered by the USTOA $1 Million Consumer Protection Plan. However, clients who have booked their vacations July 1 and later are no longer covered under the association's Consumer Protection Plan, notes Whitley.

Because of the change of ownership Freegate Tourism Inc.has had to cancel its $1 million bond, held by the previous company, notes Whitley. "Freegate has been an outstanding member of USTOA and involved in many functions over the years. USTOA looks forward to the company's requalifying in order to rejoin USTOA as soon as possible. We have a great relationship with Freegate, and we wish the company the very best," adds Whitley.

"We have regretfully resigned our membership in USTOA effective June 30, and look forward to reapplying under our new ownership," says the company's president, Ted Evangelatos.

The company is located at 585 Stewart Ave., Ste. 310, Garden City, NY 11530. (516) 222-0855.

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