Dear Business Partner,

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2 Dear Business Partner, On behalf of the members of the Board of Directors and myself, I would like to welcome you as our travel partner and to assure you that by choosing Happy Tour Group you have decided to do business with the leading Romanian travel company. My message is clear and simple: we are four leading travel companies in one and we have a powerful network of more than 60 own branches and Associated Agencies, covering 31 major cities in our country and a highly efficient network of more than 700 travel agency partners all over Romania. Our commitment is to deliver value added services and exceptional business travel, M.I.C.E., leisure, incoming and outgoing offline and online travel products, including tour operator programs by fostering a corporate culture based on innovation, time-tested efficiency and best practices. We are honored to be your business travel partners and assure you that cooperating together we will be able to achieve high standards and mutual benefits. Javier Garcia del Valle Executive Vice President/CEO Happy Tour Group The only group on the market owned by a private equity fund - GED CAPITAL -, the only group being developed based on a western business standard. This is Happy Tour Group, the biggest player on the local tourism market. (Money Express, April 2011) Business Travel Luxury Travel Ticketing Online Holidays 2 3

3 From Happy Tour to Happy Tour Group With more than sixteen years of experience, Happy Tour is recognized, for the last ten years as the leading Romanian travel services provider. In December 2007, GED Capital acquired Happy Tour. A few years later, Happy Tour begun consolidating its business on the local market by acquiring, in 2010, Paravion.ro and Travel House International and in 2011, Prestige Tours, thus building Happy Tour Group. In 2011, HTG became the Romanian representative of FCm Travel Solutions, an award winning global travel management company. This year, FCm Travel Solutions has been named Europe s Leading Travel Management Company, Asia s Leading Travel Management Company and Australasia s Leading Business Travel Agent. Just last week FCm was also named North America s Leading Travel Management Company. The business lines of Happy Tour Group are: Happy Tour corporate and leisure travel management company Paravion.ro the Group s online travel company Travel House our luxury brand Prestige Tours the incoming and outgoing tour operator of HTG. FCm Travel Solutions - global travel management provider spanning across more than 75 countries worldwide. As its Romanian partner, HTG provides to its customers: An advisory team to optimize travel expenses and improve policy compliance Reporting tools and travel policy management Technologies delivering consistent performance - best fare search solutions 24/7 emergency assistance Access to FCm s Global Hotel Program Assistance with visas, passports and insurance Executive leisure services VIP services M.I.C.E. services Limousine transfers. The leading Romanian Travel Company Founded in 1994, Happy Tour is the Romanian most trusted travel services provider. We are a dynamic full-service travel company driven by a passion for uncompromising quality and service. Our team is trained not only to produce savings for all our clients, but also to design and execute the most well-planned and innovative business trips, M.I.C.E. & leisure travel programs all over the world. Whatever your corporate needs are, we will answer them with full integrity and understanding. Product quality at competitive prices & excellent service is our motto when organizing our travel programs. We have developed the necessary travel industry business relationships in order to provide our clients the best options with the greatest added value. Through our extensive worldwide network, we gain access to the local destination knowledge of FCm Travel Solutions teams in all regions to create the most interesting leisure travel packages and backed by our global negociating power, we offer you a range of competitively- priced services. 4 5

4 Prestige Tours - prestige & noblesse oblige Prestige Tours has been established in Bucharest in 1990, as one of the first private Romanian travel agencies and, in 2007, became the Romanian representative of FCm Travel Solutions. We are the tour operator of Happy Tour Group and the most recognized incoming and outgoing Romanian service travel provider. Our incoming department is specialized in organizing individual and group tours, tailor made itineraries according to our partners particular budget and requirements. Our outgoing department organizes not only charter packages, but also tailor made programs worldwide. We have our own company fleet consisting of new coaches, ranging from 14 to 52 seats, all fitted with individual seatbelts and having all the latest refinements in the industry. Since 2011, we are the only tour-operator on the Romanian market, selling our packages exclusively through our network of travel agencies reseller partners. Paravion.ro - online travel agent par excellence! As an online Romanian travel agent par excellence, at Paravion.ro the best value flights, holidays, hotels, car rentals and specialist travel products are just a click away. Using our state-of-the-art booking engine to search, compare, book and pay for flights, hotel rooms, car rental, cruises, charters and city break programs, our customers save time and money. In 2011, we have refreshed our website content, have diversified the range of our travel packages and have invested in technology, supporting each Internet user to become his/her own travel agent. Our commitment is to provide efficient ways to plan the travel in a secure online environment, guided by prudent rules and regulations. We work hard to secure the best hotel rates in the most popular destinations and to bring to our tourists the latest deals from airlines and hotels around the world and the cheapest last minute airline tickets and seniors and non-seniors travel offers. 6 7

5 Travel House - your happy trips in luxury miles Travel House is already a well-known name on the Romanian luxury travel market, due to its customer-oriented marketing strategies, professionalism and new spirit of our young and enthusiastic team, animated by a positive attitude and problemsolving oriented approach. Travel House has decided to offer its partners the newest and most exciting destinations, inventing luxury happy travel style based on the 3 famous c combination: charm, courtesy and character. At the beginning of 2006, Travel House s performance became known outside the Romanian borders. It has received the Excellence and Business Prestige - Star Award for Quality at the 31-st edition of BID Business Initiative Directions. The national recognition came shortly after this event and other prizes and awards followed. Nothing s too far for us Happy Tour Group introduced on the Romanian market a concept that combines the positive aspects of traditional travel company services with online booking technology. Our goal To maintain our leading position as the Number One Romanian Travel Company, by delivering world-class services that meet the requirements of each and every one of our clients. Our Accreditations IATA (The International Air Transport Association) FCM Travel Solutions Member of: ANAT (National Association of Travel Agencies) Member of ASTA (American Society of Travel Agents) Member of ICCA (International Congress and Convention Association) Member of RDA (International Bustouristik Verband) Member of RCB (Romanian Convention Bureau) DIE DONAU Asociation ISO 9001 Certification from TUV Austria Our Services: booking and ticketing transfers restaurant reservations tickets for cultural/sport events any other ground services outgoing and incoming travel programs medical congresses registration and housing renta-car / train tickets trip insurances tourist visa application consultancy guiding services touristic consultancy advertising business trips statistic reports employee benefit packages for corporate clients corporate clients key accounts and much more. 8 9

6 At Happy Tour we speak your language! M.I.C.E. At Happy Tour Group we know that meetings, conventions and corporate incentive travel are travel services that require the highest expertise. Corporate clients requesting these services are the most discerning ones, and the support of an excellent M.I.C.E. management partner is paramount to the success of the event. As Happy Tour, we excel in this area, providing superior solutions in meetings and corporate travel events all over the world. Tailor made solutions... 10, 100 or 1000 guest/participants; a half day meeting or a several days event. Each situation is different and requires a different approach....need careful planning! Sales meetings, product presentation, teambuilding exercises, business lunch, internal meeting, gala dinner, company party, team rewarding We have the creativity and the expertise required in organizing memorable incentive programs. We offer the best insights, the most surprising destinations and the latest incentive techniques. No matter your industry, culture or religion, we help you maximize the impact of your incentive experiences through measurable results. 21 years of excellence as an incoming service provider Prestige Tours is the incoming tour-operator of HTG. We have more than 21 years of experience in organizing leisure incoming programs for groups and individuals. Since our launch in 1990, we have been growing steadily, in response to the demand from our overseas clients, who appreciated our flexibility and innovative programs. We offer to all our clients travel solutions adapted to all types of holidays. As a rule, we exceed all the expectations, but paying careful attention to the limits of your budget. We can take you far! Our philosophy Our philosophy is simple; we listen to our clients, understand their needs, deliver travel services above expectations and consistently strive to improve our services. Our strengths Our professionals, our Associated Agencies, our client portfolio, our expertise and financial stability. Our competitive advantage We see our employees as the most valuable asset, providing them with opportunities and support for their development and growth within organization; We have a powerful network of Associated Agencies all over Romania; Our unique team based structure ensures that whether your business is large or small, we ll make your travel management more personalized and cost effective; Using our technology and reach and industry worldwide alliances, our on-the-ground travel experts will create customized solutions that deliver real cost savings for your business; We measure our performance by KPIs, being audited by and of the BIG FOUR accounting network; As FCm Travel Solutions Romanian partner we provide premium corporate and leisure travel services

7 Our luggage is filled with success Happy Tour Group is an award-winning company providing innovative and cost-effective travel management solutions to the corporate, leisure and online market. Our worldwide strategic network includes airlines, hotels, car rental companies and GDS providers We can find a solution for every budget Our successful business strategy combines excellent client service, advanced technologies and global purchase power to guarantee client oriented solutions and savings for your corporate travel needs Our recipe for success is as simple and modern as it can be: our team consists not only of travel specialists, but also marketing, PR and advertising professionals. This way, we combine local expertise with advanced knowledge and global capabilities designated to help us deliver outstanding customized solutions to our clients Please meet our Travel Partners! Business & Corporate Clients Our clients are institutions, both public sector and private sector entities, from medium-sized businesses to large multinational corporations operating in various economic industries, like Pharmaceutical and Medical services, Electrical energy, Food industry, Financial banking, Oil and gas, Agriculture, IT &C, Alcoholic beverages, Film, television and advertising, Retail & Consumer. Individuals Customers Our clients are from varied cultures with various tastes and interests, but they all have made the same right choice to work with Happy Tour Group

8 Our Partners main benefits Trust. Provided by professionalism and client-oriented organization Comfort. Clients focus on their business while we take care of all other travel related issues Prompt reply. All customer requests are efficiently answered Consulting. Before, during and after the delivery of travel services Save time and effort. Multiple offers at the same time Save money. Take advantage of the Happy Tour Group of Companies negotiating power with various suppliers/providers ASSISTANCE & SUPPORT FOR: Corporate Travel: support daily business activities (transport, accommodations, any other travel related services, as required by the clients) Account Management: improve customer relationship management Sales: develop pre / post sales memorable incentives, events and conferences Human Resources: increase employees motivation and loyalty through corporate events, team building and training programs Third party/stakeholders: deliver appropriate corporate messages through high quality conferences and/or events TRAVEL BUDGET MANAGEMENT Optimizing travel expense through early bookings, early payments, alternative travel services / routes / suppliers, discounts and additional bonuses /rebates for high value services or for higher volumes Assistance in developing and implementing travel policy Reporting that measures savings, customer satisfaction, compliance, efficiency, impact and results for various corporate travel management activities EMERGENCY HELP LINE Non stop emergency phone line to assist clients in case of operational malfunction of various providers of travel services (cancellation, delays, differences in quality or quantity, change in routes, refunds, many others) Happy Tour has direct access to all major suppliers for additional services well above standard procedures mainly due to excellent partnership relations SELF BOOKING TOOL Access to almost all airline companies (over operating in 253 countries, servicing over 10,000 airports/cities) Access to almost all hotels in Romania and worlwide Access to all major ground services, such as transfers, rent-a-car, tickets for shows, fairs, sport events, corporate hospitality and others Access to all major tour operators Access to major cruise line companies Access to major travel and hospitality industry services including catering, sound light systems, entertainment and others

9 HAPPY TOUR Agencies ALEXANDRIA ELION TOUR str. Libertatii, nr. 211, bl. L9, parter, postal code140017, Alexandria, Teleorman Phone: (+4) 0247/ Fax: (+4) 0247/ ARAD EMOL TRAVEL str. M. Eminescu, nr.1, ap. 2 Phone: (+4) Fax: (+4) [email protected] BACAU INTER TOUR B-dul Alexandru cel Bun, nr. 1, Bacau Phone: (+4) 0234/ Fax: (+4) 0234/ [email protected] V TRAVEL str. 9 Mai, nr. 29, sc. C, parter, Bacau Phone: (+4) 0334/ Fax: (+4)0334/ [email protected] BAIA MARE MARA INTERNATIONAL TOUR B-dul Unirii, nr. 5, Baia Mare Phone: (+4) 0262/ Fax: (+4) 0262/ [email protected] BRASOV SIMPLY TOUR & TRAVEL str. Piata Sfatului, nr. 3, Brasov Phone: (+4) 0268/ Fax: (+4) 0268/ [email protected] BRAILA IL VULTURE EXIM B-dul. Independentei nr.11-15, bl , nr. 2, parter Phone: (+4) 0239 / Fax: (+4) 0239 / [email protected] BUCHAREST HAPPY TOUR SEDIU CENTRAL Metropolis Center, str. Grigore Alexandrescu, nr , etaj 4, Aripa Vest, sector 1, postal code Phone: (+4) Fax: (+4) [email protected] HAPPY TOUR - MOSILOR str. Popa Petre, nr. 42, Intrare prin Calea Mosilor, sector 2, postal code , Bucuresti - ROMANIA Phone: (+4) Fax: (+4) [email protected] HAPPY TOUR - BALCESCU Bd. Nicolae Balcescu, nr. 18, sector 1 Phone: (+4) Fax: (+4) [email protected] HAPPY TOUR - ENESCU George Enescu, nr. 31, , sector 1, Bucuresti Phone: (+4) Fax: (+4) [email protected] HAPPY TOUR AGENTIE ASOCIATA Agentia Piata Universitatii; Bd. Regina Elisabeta, nr. 3, , sector 3, Bucuresti Phone: (+4) 021/ Fax: (+4) 021/ [email protected] RENE TRAVEL SOLUTIONS Bdul. Iuliu Maniu, nr. 191, sector 6, Bucuresti Phone: (+4) 021/ Fax: (+4) 021/ [email protected] TRAVEL STUDIO Bld. Dimitrie Cantemir, Nr 15A, Sector 4, Bucuresti Phone: (+4) 021/ Fax: (+4) 021/ [email protected] LA PIOVRA TURISTA B-dul Corneliu Coposu, Nr. 4, bl. 105 A, sc. 1, parter, Bucuresti Phone: (+4) 021/ Fax: (+4) 021/ [email protected] DONARIS TOURS str. Virtutii, nr. 9, bl. R4A, parter, sector 6, Bucuresti Phone: (+4) 021/ Fax: (+4) 021/ [email protected] ZOEMI TOUR Gara de Nord, nr. 1-3, sector 1, Bucuresti Phone: (+4) 021 / Fax: (+4) 021/ [email protected] PETER EXPRESS Bvd. Magheru, nr. 32, sc A, parter, ap.1, sector 1 Phone: (+4) Fax: (+4) [email protected] COSMOPOLITAN HOLIDAYS Str. Pajurei, nr. 2B, sector 1 Phone: (+4) [email protected] ALTOURS Ion Brezoianu, nr. 36, bl.17, ap.1, parter Phone: (+4) Fax: (+4) [email protected] BUZAU ANTIC TOUR Piata Teatrului, str. Obor, bl.1, ap 3, parter, Buzau Phone: (+4) 0238/ Fax: (+4) 0238/ [email protected] CALARASI ROXALY TRAVEL Calarasi, str. Prel. Bucuresti, bl. E24, parter Phone: (+4) 0242/ Fax: (+4) 0242/ [email protected] CAMPINA TERON SYSTEMS str. Republicii, nr. 2, Campina Phone: (+4) 0244/ Fax: (+4) 0244/ [email protected] CLUJ NAPOCA str. Croitorilor, nr. 24, Phone: (+4) 0264/ Fax: (+4) 0264/ [email protected] str. Napoca, Nr. 4, Cluj Napoca Phone: (+4) 0264/ Fax: (+4) 0264/ [email protected] str. David Francisc, Nr. 11, Cluj Napoca Phone: (+4) 0264/ Fax: (+4) 0264/ [email protected] CONSTANTA HAPPY TOUR - CONSTANTA Bd. Tomis, nr. 67, bl. 3A, cod postal , Constanta Phone: (+4) / Fax: (+4) [email protected] CRAIOVA TOUR IMPEX MAPAMOND MD str. Oltet, nr 2-4, Craiova, Dolj Phone: (+4) 0251 / / Fax: (+4) 0251 / [email protected] DROBETA TURNU SEVERIN HERCULES TOUR str Horia, nr. 12, Drobeta Turnu Severin Phone: (+4) 0252 / / Fax: (+4) 0252 / office@hercules tour.ro FOCSANI AGETUR SRL str. Stefan cel Mare, nr. 13, Focsani Phone: (+4) 0237/ Fax: (+4) 0237/ [email protected] GALATI OCTOTRAVEL str. Brailei, nr. 1, bl.i, sc. 8, Galati Phone: (+4) 0336/ Fax: (+4) 0336/ [email protected] OCTOTRAVEL str. Domneasca Nr.1 1, Bl.P1, Galati Phone: (+4) 0336/ Fax: (+4) 0336/ [email protected] GURA HUMORULUI RAMONA TOURISM & TRAVEL str. Republicii, nr. 14, Gura Humorului Phone: (+4) Fax: (+4) [email protected] IASI TRAVEL 4 YOU Piata Unirii, nr. 6, bl. 6, parter, Iasi Phone: (+4) 0232/ Fax: (+4) 0232/ [email protected] MEDIAS DAFORA TRAVEL & EVENTS str. Piata Regele Ferdinand I, nr. 22, Medias Phone: (+4) 0269/ Fax: (+4) 0269/ [email protected] MIERCUREA CIUC str. Gal Sandor, nr.16 Phone: (+4) 0266/ Fax: (+4) 0266/ [email protected] MOTRU HERCULES TOUR str. Trandafirilor, zona Bloc 1 Phone: (+4) 0253/ / Fax: (+4) 0252/ [email protected] OLTENITA KARISMA str. Alexandru Iliescu, nr 55-57, bl. D1, sc.1, ap.1, Oltenita, Calarasi Phone: (+4) 0242/ Fax: (+4) 0242/ [email protected] ONESTI INTER TOUR B-dul Republicii, nr. 52, Onesti Phone: (+4) Fax: (+4) [email protected] ORADEA SANA CENTER TRAVEL str. Parcul Traian, nr.11, parter, Oradea, Bihor Phone: (+4) Fax: (+4) [email protected] PIATRA NEAMT PETRO TOUR str. Liliacului, bl. A4, sc. D, ap. 63, parter, Piatra Neamt Phone: (+4) 0233/ Fax: (+4) 0233/ [email protected] PITESTI NEW TRAVEL MUNTENIA str. Grivitei, bl. A5, parter, Pitesti, Arges Phone: (+4) 0248/ Fax: (+4) 0248/ [email protected] OK TOUR INTERNATIONAL str. Fratii Golesti, bl.s8, sc.c, ap. 2, Pitesti Phone: (+4) 0248/ Fax: (+4) 0248/ [email protected] PLOIESTI HAPPY TOUR - PLOIESTI Bd. Republicii, nr. 122, bl.16 B2, Prahova Phone: (+4) Fax: (+4) [email protected] ALTOURS Bd-ul Republicii, nr 1, la parter Hotel Central, Aripa Tache Ionescu Phone: (+4) Fax: (+4) [email protected] RAMNICU VALCEA ONILARI TURISM str. Regina Maria, nr. 7, Complex GAMA (parter), Ramnicu Valcea Phone: (+4) 0350/ Fax: (+4) 0350/ [email protected] SIBIU TRAMP TRAVEL HOLIDAYS INTERNATIONAL str. Scoala de Inot, nr. 28C, , Romania Phone: (+4) 0269/ Fax: (+4) 0269/ [email protected] SLATINA ATT SLATINA str. Arcului, nr. 2, bl. 3B, sc. A, ap. 3, Slatina, jud. Olt Phone: (+4) 0249/ Fax: (+4) 0249/ [email protected] TARGOVISTE ALTOURS Bd-ul IC Bratianu, bl D2, parter Phone: (+4) Fax: (+4) [email protected] TARGU JIU HERCULES TOUR str. Termocentralei, nr. 2A, parcare Kaufland Phone: (+4) 0253/ / Fax: (+4) 0252/ [email protected] TARGU MURES Piata Trandafirilor, nr , ap. 29 Phone: (+4) 0265/ Fax: (+4) 0265/ [email protected] TIMISOARA LARA TOUR str. Florimund de Mercy, nr. 4, Timisoara Phone: (+4) 0265/ Fax: (+4) 0265/ [email protected] X TOUR str. Lucian Blaga, nr. 3, Timisoara Phone: (+4) Fax: (+4) [email protected]