Copyright © 2006 Information Resources, Inc. Confidential and proprietary. November 2006CONFIDENTIAL An IRI Report for the VA covering data up to Quarter 3, 2006

Copyright © 2005 Information Resources, Inc. Confidential and proprietary. Report Introduction 1.The data contained in the report present estimates of the size of the Gift Voucher Market. 2.The data have been generated through a “pooling operation”, whereby members of the VA forwarded to IRI data on their individual businesses, which were then aggregated and analysed. 3.The market described is a “defined Market”, reflecting input from the following 33 companies – Asda Business Rewards, Boots, Capital Incentives, Comet Business Services, Debenhams, DSG Business Services, Exhilaration, Experience More, The Gift Voucher Shop, Grass Roots, Halfords, HMV UK Ltd, House of Fraser, John Lewis Direct, Kingfisher, Lakeside Shopping Centre, Love2reward, Maritz, Marks & Spencer, Marriott Incentives, Next, Red Letter Days plc, Sainsbury, Sodexho Pass, Tesco, Theatre Tokens, Thomson (Corporate Sales only), Thomas Cook, Thresher Group, Treatme.net, Virgin Incentives, Whitbread and WH Smith.The VA and Information Resources aim to continue to recruit further members in the future in order to make the measurement as comprehensive as possible. 4.The data included covers the period Quarter 4, Quarter 3, Any queries or comments should be forwarded to Simon Thickett of IRI, Eagle House, The Ring, Bracknell, Berkshire, RG12 1HS Telephone: Fax:

Copyright © 2005 Information Resources, Inc. Confidential and proprietary. Executive Summary  Latest Quarter Results  The Voucher Association has enjoyed a successful quarter in Q3 06 with total sales of £303,554,000  51.0% of these sales were Store sales  YOY Results  Year on Year growth of the Total Market was +11.1% for Q3 06  This growth was driven by Corporate sales (+18.9%)

Copyright © 2005 Information Resources, Inc. Confidential and proprietary. Value Sales each Quarter, starting quarter 4, Bars are in £000s. Total Category Size

Copyright © 2005 Information Resources, Inc. Confidential and proprietary. Value Sales in the latest year, starting in the year beginning quarter 4, Total Category Size

Copyright © 2005 Information Resources, Inc. Confidential and proprietary. Year On Year Growth of Total Market, by Category Quarter This Year Vs Quarter Last Year Year on Year percent change, based on Market Sales data

Copyright © 2005 Information Resources, Inc. Confidential and proprietary. Contribution of each quarter to total year sales. Based on latest rolling full year of data Category Seasonality: Quarter 4, Quarter 3, 2006 B 2 CB 2 B

Copyright © 2005 Information Resources, Inc. Confidential and proprietary. Category Segmentation Share Trends of Total Market Store & Corporate contribution to total sales each quarter. Value sale shown in the table is in £000s

Copyright © 2005 Information Resources, Inc. Confidential and proprietary. Detailed Market Breakdown Where the Market is broken down into the segmentation shown below, it is deemed to be representative of only the businesses that are listed below - Boots - Capital Incentives - Debenhams - DSG Business Services - Experience More - Halfords - House of Fraser - Marriott Incentives - Red Letter Days plc - Sainsburys - The High Street Voucher - WH Smith - Next - Exhilaration This information is only available to the companies listed above Telephone: Fax: Total Market B2BB2C Reward/Incentive Flexible Benefits Legislative Savings (incl Xmas Club) Affinity Groups E-commerce OTC Insurance Replacement Savings (inc. Xmas club)

Copyright © 2005 Information Resources, Inc. Confidential and proprietary. Market Size, Split by Category B 2 C This data is only available to members submitting this breakdown Quarterly Value Sales, £000s. Market is defined as only the companies who submit the Breakdown.

Copyright © 2005 Information Resources, Inc. Confidential and proprietary. Market Size, Split by Category B 2 B This data is only available to members submitting this breakdown Quarterly Value Sales, £000s. Market is defined as only the companies who submit the Breakdown.