Thomas Cook Regulatory News (TCG)

NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA

19 May 2016.  Thomas Cook Group plc (the Company) announced today that as part of the Company's strategy to prioritise the reduction in its fixed term debt and associated interest costs while offering investors liquidity prior to the maturity of the Notes (as defined below), it has authorised with immediate effect a purchase programme to be managed by Merrill Lynch International, DNB Markets, a Division of DNB Bank ASA, and Lloyds Bank plc (together, the "Managers"), pursuant to which the Company may from time to time purchase, through open market purchases or private transactions, the following securities (the Notes):

The Company will decide in its sole discretion to purchase Notes in an aggregate principal amount up to £100,000,000 from Merrill Lynch International and Lloyds Bank plc. The Company intends for the purchase programme to remain open for a period of ten business days from the date hereof, however, the offer period is subject to change and dates may be extended, amended or terminated by the Company in its sole discretion. Settlement will be for T+2 from the date of purchase and accrued interest from the last applicable interest payment date up to but excluding the settlement date will be paid in addition to the purchase price. Noteholders wishing to offer their Notes for purchase by the Company should contact Merrill Lynch International, Tim Morgan/Liability Management, at Telephone: +44 (0) 207 995 2462 or Lloyds Bank plc, Liability Management Desk, at Telephone: +44 (0) 207 158 2720.

If you have an account with Merrill Lynch International or Lloyds Bank plc and desire to sell any of the targeted securities, you should call Merrill Lynch International, Tim Morgan/Liability Management, at Telephone: +44 (0) 207 995 2462 or Lloyds Bank plc, Liability Management Desk, at Telephone: +44 (0) 207 158 2720 at any time between 9:00 a.m. and 3:00 p.m., London time, on any London Stock Exchange trading day. You will not be required to pay any fees or commissions to Merrill Lynch International or Lloyds Bank plc in connection with the sale of securities. Merrill Lynch International or Lloyds Bank plc may require evidence of your identity to comply with applicable anti-money laundering legislation and related regulations, policies and procedures in relation to the selling of the securities.

If you do not have an account with Merrill Lynch International or Lloyds Bank plc, and desire to sell the targeted securities, you may do so through your broker, dealer, commercial bank, trust company, other financial institution or other custodian that you customarily use. Your broker must contact Merrill Lynch International or Lloyds Bank plc at the phone numbers set forth in this announcement, at any time between 9:00 a.m. and 3:00 p.m., London time, on any London Stock Exchange trading day. You may be required to pay a fee or commission to your broker or intermediary through whom the securities are sold.

Thomas Cook is one of the world's leading leisure travel companies with operations in 15 source markets across Europe. The Company operates well-recognised brands including Thomas Cook, Neckermann, Condor, Jet tours, Ving, Spies and Tjareborg. The Company also offers a wide range of holiday options, including traditional pre-packaged holidays, independent travel products and a selection of travel-related financial services as well as certain ancillary travel services, including duty free shopping and processing passenger baggage at airports.

DISCLAIMER This announcement contains important information which should be read carefully before any decision is made.  If you are in any doubt as to the action you should take, you are recommended to seek your own financial advice, including as to any tax consequences, from your stockbroker, bank manager, solicitor, accountant or other independent financial, tax or legal adviser.  Any individual or company whose Notes are held on its behalf by a broker, dealer, bank, custodian, trust company or other nominee must contact such entity if it wishes to sell such Notes. None of the Company, Merrill Lynch International or Lloyds Bank plc makes any recommendation as to whether Noteholders should sell their Notes.

OFFER AND DISTRIBUTION RESTRICTIONS

The distribution of this announcement in certain jurisdictions may be restricted by law.  Persons into whose possession this announcement comes are required by the Company, Merrill Lynch International and Lloyds Bank plc to inform themselves about and to observe any such restrictions.  This announcement does not constitute an offer to buy or a solicitation of an offer to sell the Notes (and offers to sell Notes will not be accepted from Holders) in any circumstances in which such offer or solicitation is unlawful.

United States.  No offer to purchase Notes is being made or will be made, directly or indirectly, in or into, or by use of the mails of, or by any means or instrumentality of interstate or foreign commerce of, or of any facilities of a national securities exchange of, the United States. This includes, but is not limited to, facsimile transmission, electronic mail, telex, telephone, the internet and other forms of electronic communication. No Notes may be tendered by any such use, means, instrumentality or facility from or within the United States or by persons located or resident in the United States. Accordingly, copies of this announcement and any other documents or materials relating to the Notes are not being, and must not be, directly or indirectly, mailed or otherwise transmitted, distributed or forwarded (including, without limitation, by custodians, nominees or trustees) in or into the United States or to any U.S. persons or any persons located or resident in the United States.  Any purported tender of Notes resulting directly or indirectly from a violation of these restrictions will be invalid and any purported tender of Notes made by a person located in the United States or any agent, fiduciary or other intermediary acting on a non-discretionary basis for a principal giving instructions from within the United States will be invalid and will not be accepted.  Each holder of Notes that tenders Notes for purchase will be deemed to represent that it is not a U.S. person, it is not located in the United States and is not participating from the United States or it is acting on a non-discretionary basis for a principal that is not a U.S. person, that is located outside the United States and that is not giving an order to participate from the United States. For the purposes of this paragraph, United States means the United States of America, its territories and possessions (including Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa, Wake Island and the Northern Mariana Islands), any state of the United States of America and the District of Columbia.

United Kingdom.  This announcement is being distributed only to, and is directed only at: (i) persons who are outside the United Kingdom; (ii) persons having professional experience in matters relating to investments falling within the definition of investment professionals (as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the "Financial Promotion Order")); (iii) persons falling within Article 43 of the Financial Promotion Order; (iv) persons falling within Article 49(2)(a) to (d) ("high net worth companies, unincorporated associations, etc.") of the Financial Promotion Order; or (v) any other persons to whom an invitation or inducement to engage in investment activity (within the meaning of section 21 of the Financial Services and Markets Act 2000) in connection with the sale of any securities may otherwise lawfully be communicated or caused to be communicated (all such persons together being referred to as "relevant persons"). This announcement is directed only at relevant persons and must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this announcement relates is available only to relevant persons and will be engaged in only with relevant persons.

European Economic Area (EEA). This announcement has been prepared on the basis that all offers of to purchase Notes will be made pursuant to an exemption under the Prospectus Directive (as defined below), from the requirement to produce a prospectus for offers to purchase the Notes. In relation to each Member State of the European Economic Area (EEA) which has implemented the Prospectus Directive (each, a Relevant Member State), with effect from and including the date on which the Prospectus Directive is implemented in that Relevant Member State no offer to purchase Notes to the public in that Relevant Member State may be made other than: (a) to any legal entity which is a qualified investor as defined in the Prospectus Directive; (b) to fewer than 150 natural or legal persons(other than qualified investors as defined in the Prospectus Directive); or (c) in any other circumstances falling within Article 3(2) of the Prospectus Directive, provided that no such offer to purchase Notes shall require us or any of the Managers to publish a prospectus pursuant to Article 3 of the Prospectus Directive. Accordingly, any person making or intending to make any offer within the EEA to purchase the Notes should only do so in circumstances in which no obligation arises for us or any of the Managers to produce a prospectus for such offer. Neither we nor the Managers have authorized, nor do authorize, the making of any offer to purchase the Notes through any financial intermediary, other than the offers to purchase made by the Managers which constitute the final placement of the Notes contemplated in this announcement.