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GAP JOINS ETHICAL TRADE INITIATIVE

SAN FRANCISCO - Gap Inc.has been accepted into membership in the UK.-based Ethical Trading Initiative (ETI).

Gap Inc. is the third US corporation and the thirty-seventh company overall to join the alliance, which also currently includes 16 non-governmental organizations and relevant UK and global trade unions.

ETI works to identify and promote good practice in the implementation of corporate codes governing supply chain labor conditions, primarily in the food and clothing sectors.

The group's ultimate goal is to ensure that conditions for workers producing goods for the UK market meet or exceed international labor standards.
 
Gap Inc. has operated retail stores in the United Kingdom since 1987. ETI only accepts a company for membership following a rigorous review process to assess the company's commitment to implementing the ETI Base Code with its suppliers.
 
Approximately 3,000 garment factories in about 50 countries produce merchandise for Gap Inc.'s Old Navy, Banana Republic and Gap brands. The company has about 90 full-time employees worldwide who continually monitor factories for compliance issues and work with manufacturers, non-governmental organizations, unions and other stakeholders to improve conditions.

To do business with the company, garment manufacturers are now required to comply with the company's Code of Vendor Conduct, which defines labor and health and safety standards.
 
Although Gap Inc. has had its own code since 1996, the ETI Base Code will be an additional guide to influence the company's enforcement of labor standards, the company said.
 
Gap's fiscal 2003 sales were $15.9 billion. As of April 3, the company operated 3,022 store locations in the US, the United Kingdom, Canada, France, Japan, and Germany.

TRAVELOCITY EXPANDS IN GERMANY

HAMBURG, Germany - Travelocity has announced that Travelocity Europe, its joint venture with Otto Freizeit und Touristik (OFT), will acquire travelchannel.de, a leading German online travel site, subject to the approval of European regulatory authorities.

With the acquisition, Travelocity Europe broadens its distribution in Germany while simultaneously expanding its overall position in Europe. Financial terms of the deal were not disclosed.

Travelchannel Ltd, headquartered in Hamburg, was founded by the print and publishing house Gruner + Jahr in 1999.

In 2000, OFT purchased a 50% stake in the company and purchased the remaining shares in 2003. The company will now exist under the Travelocity Europe umbrella.

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