ORION EXPEDITION CRUISES ANNOUNCES NEW PARTNER

SYDNEY (20 May, 2008) – Sarina Bratton, Founder and Managing Director of

Orion Expedition Cruises today announced the purchase of the company by KSL

Capital Partners, a leading private equity company in the USA.

Following several unsolicited approaches to purchase Orion Expedition Cruises,

the current shareholders have agreed to an offer from KSL Capital Partners, a

Denver based private equity company specialising in high end travel and leisure

enterprises. This majority shareholding will provide the capital and opportunity

for Orion Expedition Cruises to expand beyond its one ship operation (through the

building of new ships and/or other acquisitions), ahead of the original business

plan.

Founded in early 2004, Orion Expedition Cruises is the only world class

expedition cruise line operating from Australia to pristine wilderness areas in

Antarctica, the Kimberley, Papua New Guinea, Melanesia and Asia. After three

years of operation, OEC has achieved a reputation worldwide for its new and

diverse itineraries and sustainable operations. Sarina Bratton will continue as a

significant shareholder and Managing Director.