Dallas Businessman Appointed to Promote Tourism
from Texas and Surrounding U.S. States

MONACO – July 14, 2003 -- The Monégasque government is proud to announce the appointment of John F. Davis III as Honorary Consul of Monaco for Texas and its surrounding U.S. states, including Arkansas, Kansas, Louisiana and Oklahoma. A businessman from Dallas, Mr. Davis brings a wealth of hospitality and tourism experience, particularly in the hotel industry. As Honorary Consul, his responsibilities will include bolstering tourism to Monaco from each area under his jurisdiction.

Mr. Davis currently serves as board chairman, chief executive officer and president of Dallas-based Pegasus Solutions, Inc., a leading worldwide provider of hotel reservations-related services and technology. His extensive experience in global hotel reservations systems and booking processes made him an ideal candidate for such an honor from the Principality.

Mr. Davis has been a leader at Pegasus for 14 years, beginning in 1989, when he launched Pegasus’ Electronic Distribution “switch” technology, which today connects more than 45,000 hotels to global distribution systems and the Internet. In 1992, Davis led the formation of Pegasus Commission Processing, the industry’s first hotel commission clearing house that today stands as one of the world’s largest providers of hotel commission payment services. Two years later, he led the launch of TravelWeb.com, the first Web site to offer real-time online hotel reservations and the foundation for Pegasus’ online distribution business, which now powers such well-known travel Web sites as Hotwire, Expedia and Orbitz. In 2000, Mr. Davis helped engineer the acquisition of REZsolutions, Inc., and its Utell hotel representation service, making Pegasus the industry’s largest third-party marketing and reservations provider. Pegasus has more than 1,300 employees in 11 countries.

Davis, age 50, received a bachelor of business administration degree from Texas Christian University in Fort Worth, Texas and currently resides in Dallas with his wife and three sons.

Monaco’s new Honorary Consul positions are established to create cultural, economic and business synergy between the United States and the Principality. Dick Wolf, an entertainment industry veteran and Emmy-award winning producer of NBC’s “Law & Order” currently serves as Monaco’s Honorary Consul for Los Angeles. Bob Dickinson, President of Carnival Cruise Line, is Monaco’s Honorary Consul for Florida. And John Drew, President of The Drew Company and President and CEO for the World Trade Center Boston, just started his mandate as Honorary Consul for Monaco in Boston.

For more information on Mr. Davis’ appointment, call the Consulate General of Monaco at (212) 286-0500, or visit www.monaco-consulate.com. For more information on Mr. Davis, contact the corporate communications office of Pegasus Solutions at (214) 234-4400.