Change of name for BTI - now HRG

Communication from BTI / HRG

HRG Australia

Head Office

Level 12, 485 LaTrobe Street

MELBOURNE Vic 3000

Tel. (03) 9604 3400

Fax. (03 9606 0134

7th April 2006

Dear Customer,

Today is one of the most exciting dates in the 160 year history of Hogg Robinson!

It is now three months since we announced our decision to discontinue the BTI joint venture with BCD/WorldTravel and to pursue an independent strategy. During this time a tremendous amount of activity has been undertaken by Hogg Robinson in order to position us and our network of owned companies and contracted partners as a global leader in providing corporate services which add demonstrable value to our clientsÂ’ expenditure.

Inevitably, given the size and scale of the changes, some confusion has arisen either by accident, or from well intended but misleading comments in the press. The following is designed, therefore, to give a clear update and understanding of the background, current situation and future strategy of HRG.

Introduction

For some time, in Hogg Robinson, we had felt the need to reposition ourselves within the corporate travel sector. As with many industries over the past few years, corporate travel has undergone changes caused by a variety of dynamics. At the same time, Hogg Robinson has invested considerably in a number of areas sufficient that we are now able to offer a range of services and products in addition to the classic type of quality travel management which we have become renowned for providing (which until today traded as BTI ).

Our decision to part company with BCD/WorldTravel results in our being able to undertake this bold but necessary repositioning so that today the new HRG is able to be seen far more as a “rounded services company trading in the corporate travel market” rather than as a travel company which by its nature tends to operate within a more limited sphere.

Naturally, our quality travel management service will still form a vital component of everything we do, but alongside it will be a much broader array of value enhancing products and services designed to maximise our clientsÂ’ expenditure.

The new HRG network

From today, we will start to trade as HRG in every market as part of the new HRG (Hogg Robinson Group) network.

This core of ownership is backed up by strong strategic partnerships across the world. Most of our contracted trading partners will simply switch from using the current BTI (country name) to HRG (country name). All will be visually identified as “part of the HRG Hogg Robinson worldwide network”.

All of the former BTI partners were given time to consider their options on the way forward. Outside of the Americas, almost without exception they elected to stay with Hogg Robinson. This is a tremendous testimony to the strength of our network as it is also to our partnersÂ’ commitment to the HRG strategy to offer quality and value adding services. Many of our partners have worked with Hogg Robinson for over 15 years, so they are already used to working together.

Our “new” network has unrivalled expertise. We estimate the number of corporate clients we already actively service across more than five countries to be in excess of 100. In addition, we have immense existing experience in implementing across multi territories, and currently act as the consolidating travel management company for over 50 companies who operate across more than 10 borders.

In the Americas, I am pleased to confirm that a strong network is also already in place. In North America, Hogg Robinson already owned BTI Canada, one of CanadaÂ’s leading travel management companies. Close to a year ago we purchased Sea Gate Travel. Sea Gate were already considered to be one of the top 5 players within Managed Travel in the USA. We further strengthened that capability with the more recent purchase of Robustelli. A primary reason for Hogg Robinson choosing to acquire these companies was their great track record at providing quality service plus their history of client loyalty as a result. All of these companies will now trade as HRG North America - solely owned by Hogg Robinson and with 1500 employees located in 70 offices.

In Central and South America we are delighted to inform you that we also have a strong capability. Centred around our former BTI partner in Brazil, we have also welcomed new partners across Central and South America who mostly come to us as a group and so are experienced at operating together.

Based on size alone we are a clear force to be reckoned with - HRG today operates in 89 countries across five continents with gross sales of around $12bn and over 15,000 employees.

Technology

HRG does not believe that one single booking source across the world will and can provide all content required for the corporate traveller. We believe that different markets are still best served by different reservation systems which relate to those individual markets. However, where client demand requires, we are able to operate across a single system when one is available. We also believe that common structures and systems capable of independently collecting and storing data are essential, particularly in todayÂ’s fragmented travel environment and in a world where data protection and security are paramount. Critical to this is our ability to both track travellers and store this information in a safe and independent way.

We also firmly believe that our products and services should be both independent and capable of connecting to whatever and whichever systems are needed to gather the content required for servicing our valued clients. This includes the ability to link whenever possible to whichever reservation medium may be necessary for bookings.

Summary

The HRG strategy is simple: To offer a range of services and products to the corporate clients which both save cost and add clear value to their expenditure.

To help achieve this we have strong relationships with key suppliers (although naturally as is the case with technology platforms, we also work with whomever our clients choose as well), good independent technology and a range of value enhancing services ranging from classic travel management through to stand-alone consultancy, and of course our more recent investment in expense process management. We also operate other travel related services for our clients including large- and small-scale event management, meetings management, sports travel management and aircraft charter management.

At HRG we are truly excited by this tremendous opportunity to lead the way in offering real and demonstrable value to our clients by providing a quality range of products and services wherever and whenever our clients need them!

Many thanks for taking the time to read this update. We will keep you advised over the coming months as we continue to enhance and expand our range of services. If you require further discussion on the HRG worldwide network and services please do not hesitate to either touch base with your senior contact at HRG Australia or write to me personally.

In the meantime, many thanks for your continued support.

Yours sincerely

Carl Buerckner

Managing Director, Australia