Orient-Express Hotels, Trains & Cruises (NYSE: OEH) today announced it has entered into an agreement with an established luxury canal and river cruising company Afloat in France, to acquire its existing business of five deluxe canal barges in France.

Afloat in France operates tailored cruises by 'p�niche' with a fleet of five of these deluxe barges, on some of France's most beautiful inland waterways. Each p�niche is individual in design and lavishly appointed. Able to accommodate six to 12 guests, each offers superior dining and customized itineraries.

Nick Varian, Vice President of Orient-Express Hotels, Trains & Cruises, said that the company had been interested in the opportunities and special experiences afforded by the French rural waterways for some time.

"During the course of 2003 we became aware of the luxurious quality of Afloat in France's barges and product. We feel that the Orient-Express philosophy of creating unique travel experiences in five-star surroundings fits very well with the niche that the Afloat in France team has developed," added Mr. Varian.

"We are delighted that our special fleet is joining the renowned Orient-Express portfolio of luxury travel experiences," said Maureen Maguire, founder of Afloat of France.

"The joy of barging can now be introduced to Orient-Express' global and dedicated base of luxury travel customers," she added.

Each p�niche is available for private charter between April and October, affording the opportunity for travelers to have their own floating house party. Individual cabins can also be booked on some vessels, and all have an atmosphere conducive to complete relaxation.

All itineraries are tailor-made to explore the heart of rural France, including Burgundy, Provence, the Loire, the Rh�ne Vall�e, and Languedoc-Roussillon. All feature extensive itineraries and a full crew, and are fully inclusive, six-night holidays. Additionally, as gastronomy and culture are among the hallmarks of the Afloat in France experience, the company offers five special opera cruises during the summer on the Napoleon. Packages include tickets and transfers to the Theatre Antique d'Orange, one of the best preserved structures of the entire Roman Empire, which hosts an annual festival of opera, drama and ballet. Rates for special opera cruises begin at US $54,900 for 12 people for the six-night program.

With crews who are predominately British, each p�niche has a captain, tour director, hostess and chef. Onboard tour directors arrange specially tailored land programs for each party, from private vineyard and chateau visits to biking or ballooning. Each p�niche has bicycles on board, while chauffeured air-conditioned mini-buses allow guests to explore the rural French countryside, including local cultural attractions. Transfers to and from Paris are by means of TGV.

Fleur de Lys and Amaryllis are the ultimate in French p�niches, and sleep six and eight respectively. Featuring large staterooms and rich teak sundecks, these barges are the only two p�niches on the French inland water ways to have outdoor heated pools. Both are for private hire and can be booked together to travel in tandem for a larger group.

Alouette and Hirondelle sleep six and eight respectively and are ideal for family holidays. Cabins can also be booked on an individual basis. Each has a sundeck and spacious salon and dining room, with an abundance of books and games to keep guests entertained while on board. These vessels can also be booked together to travel in tandem for larger groups. The river barge Napoleon accommodates up to 12, and can be booked on a per cabin basis or as a private charter. It too features a grand sundeck with Jacuzzi, and an area on the upper deck for alfresco dining.

"P�niche cruising with Orient-Express is a great alternative to a staffed villa holiday as well as a great opportunity to learn about and experience a more traditional French lifestyle," added Mr. Varian.

"The barges accommodate six to 12 passengers in the same space as other operators put 18 to 24, giving our guests rather more spacious surroundings in which to enjoy a cruise that is as relaxing or as structured as they desire."

Fleur de Lys can be chartered for a six-night fully inclusive cruise through Burgundy for six passengers at a rate of US$39,200, including transfers, meals and drinks on board, use of air-conditioned mini-bus, and all off-barge excursions featured in a personalized itinerary.

Alouette can be hired for a fully inclusive six-night cruise on the Canal du Midi through the Languedoc-Roussillon wine region from US$4,000 per person, based on double occupancy. Charters begin at US$22,500 for six persons sharing. Orient-Express also offers the ability for Aloutte passengers to combine stays at the company's luxurious H�tel de la Cit� in Carcassonne on selected routes.

The Amaryllis can be chartered for a six-night fully inclusive cruise throughout several wine regions for eight passengers at a rate of US$48,600, including transfers, meals and drinks on board, use of air-conditioned mini-bus, and all off-barge excursions featured in a personalized itinerary.

The Hirondelle can be hired for a fully inclusive six-night cruise through Burgundy from US$4,000 per person, based on double occupancy. Charters begin at US$30,000 for eight persons sharing.

A six-night, fully inclusive cruise on board Napoleon on the Rh�ne/Sa�ne rivers ranges from US$4,600 per person based on two adults sharing a double cabin. Charters for 12 passengers are also available at a rate of $54,900. Prices include First Class TGV train connections to join the p�niche, all meals and drinks on board, and all off-barge excursions outlined in the itinerary.

Transfers from London or Venice by the Venice Simplon-Orient-Express to Paris, can also be arranged as an optional add on. All Afloat in France bookings are fully commissionable (10%) to certified travel professionals. Abercrombie & Kent, Frontiers, The Barge Lady and other selected contracted tour operators market the Afloat in France product line.

For information on p�niche cruises with Afloat in France, contact the World of Distinction office at Orient-Express; 10 Weybosset Street, Ste 500, Providence, RI 02903; tel: 800-524-2420 or oereservations.providence@orient-express.com. Additional details are available at www.orient-express.com.

Please note: High-resolution images of Afloat in France are available at http://213.235.14.20/lispics1.

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Patricia Harper Director of Public Relations, North America Orient-Express Hotels, Trains, Safaris, Cruises & Private Jets 1155 Avenue of the Americas 30th Floor New York, NY 10036 tel: 212-302-5055 fax: 212-302-5203 patricia.harper@orient-express.com