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Free Cash Flow

Just as your pulse is checked during a routine physical, free cash flow is used as an indicator of a company's health. It equals the cash brought in from operations minus the money needed to pay the bills. Think about leftover money in your checking account after you pay this month's bills.

Investors and analysts see this leftover money as a gauge of a company's ability to perform. It is available for transactions such as handing out dividends and working on new products.

Some argue free cash flow is wrongly overshadowed by the emphasis often placed on earnings. Earnings numbers can be manipulated and don't always tell the whole story -- and earnings don't mean much if there's nothing left over after a company pays its expenses. Even if you bring in a six-figure salary, but no money left after paying the bills, are you in great financial shape?

You don't have to be Einstein to figure out free cash flow. To calculate the number, subtract the company's expenditures and dividends from its operating cash flow.

If the free cash flow is written in red ink, it doesn't necessarily signal curtains. This is common for young companies looking to grow. It also could be a result of heavy investments, which in the long run could be worth a standing ovation.

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Travelzoo Top 20 Launches in Spain

 
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BARCELONA, May 12, 2008 (PrimeNewswire via COMTEX News Network) ----Travelzoo (Nasdaq:TZOO), a global Internet media company, today announced that it has launched its popular newsletter, the Travelzoo Top 20(tm) in Spain. This is the first Spanish language edition of the popular travel newsletter, which already has a subscriber base of 13 million weekly subscribers in 10 markets worldwide, including the UK, Germany and France.

Chris Loughlin, managing director of Travelzoo in Europe said, "The launch of the Travelzoo Top 20(tm) in Spain is an important strategic step in Travelzoo's global expansion strategy. Spain boasts one of the fastest-growing internet populations in Europe, with over 22 million users, and continues to occupy second position in the world for inbound tourism, attracting more than 58 million visitors each year. It is also home to some of the most important and largest travel advertisers in the world, including existing Travelzoo advertisers such as RIU Hotels & Resorts and Sol Melia Hotels & Resorts. Spain is an obvious springboard from which to launch into other Spanish-speaking territories."

Travelzoo has operated an advertising sales office in Barcelona, Spain since November 2006. Mr. Luis Marti, formerly Editor at eDreams will serve as Publisher of the Travelzoo Top 20(tm) in Spain.

About Travelzoo

Travelzoo is a global Internet media company. Travelzoo's media properties, which reach more than 13 million travel enthusiasts in the US, Australia, Canada, China, France, Germany, Hong Kong, Japan, Spain, Taiwan and the UK, include the Travelzoo(r) website (http://www.travelzoo.com), the Top 20(r) e-mail newsletter, the Newsflash(tm) e-mail alert service and SuperSearch(tm), a travel search engine. Travelzoo publishes offers from more than 900 advertisers. Travelzoo's deal experts review offers to find the best travel deals and confirm their true value. Travelzoo's global headquarters are in New York City.

About Travelzoo in Europe

Travelzoo has operated in Europe since 2005. Travelzoo's European media properties, which reach more than 1.7 million travel enthusiasts in the UK, Germany, France and Spain through its newsletters, include the Travelzoo Top 20(tm) e-mail newsletter, the Newsflash(tm) e-mail alert service, and the Travelzoo(r) websites (http://www.travelzoo.co.uk, http://www.travelzoo.de, http://www.travelzoo.fr, http://www.travelzoo.es).

Certain statements contained in this press release that are not historical facts may be forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. These forward looking statements may include, but are not limited to, statements about our plans, objectives, expectations, prospects and intentions, markets in which we participate and other statements contained in this press release that are not historical facts. When used in this press release, the words "expect", "predict", "project", "anticipate", "believe", "estimate", "intend", "plan", "seek" and similar expressions are generally intended to identify forward looking statements. Because these forward looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward looking statements, including changes in our plans, objectives, expectations, prospects and intentions and other factors discussed in our filings with the SEC. We cannot guarantee any future levels of activity, performance or achievements. Travelzoo undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release. Travelzoo and Top 20 are registered trademarks of Travelzoo. All other company and product names mentioned are trademarks of their respective owners.

This news release was distributed by PrimeNewswire, www.primenewswire.com

SOURCE: Travelzoo (Europe) Ltd

Travelzoo
   (Europe) Ltd Katie Kogan +44 207 203 2009 kkogan@travelzoo.com 
(C) Copyright 2008 PrimeNewswire, Inc. All rights
   reserved.

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