An IRI Report for the Voucher Association covering

An IRI Report for the Voucher Association covering data up to Quarter 2, 2006 July 2006 CONFIDENTIAL 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 Voucher Association forwarded to IRI data on their individual businesses, which were then aggregated analysed. 3. The market described is a “defined Market”, reflecting input from the following 30 companies – Argos Retail Services, Boots, Capital Incentives, Choice Gift Vouchers, e. Xhilaration, Experience More, Debenhams, Dixons, Gift Voucher Shop, Grass Roots, Halfords, House of Fraser, John Lewis Direct, Kingfisher, Lakeside Shopping Centre, Love 2 reward, Theatre Tokens, Thomson (Corporate Sales only), Maritz, Marks & Spencer, Marriott Incentives, Next, Red Letter Days plc, Sainsbury, Tesco, Thomas Cook, Thresher Group, Virgin Incentives, Whitbread and WH Smith. The Voucher Association 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 2, 2003 - Quarter 1, 2006 5. Any queries or comments should be forwarded to Simon Thickett of IRI, Eagle House, The Ring, Bracknell, Berkshire, RG 12 1 HS D y m m u D ta a Telephone: 01344 746000 Fax: 01344 746001 Copyright © 2005 Information Resources, Inc. Confidential and proprietary.

Executive Summary ta a Latest Quarter Results The Voucher Association has enjoyed a successful quarter in Q 2 06 with total sales of £ 241, 500, 000 60. 0% of these sales were Store sales D y m m YOY Results Year on Year growth of the Total Market was +7. 3% for Q 2 06 This growth was driven by Store sales (+7. 4%) u D Account Performance Total market share is 4. 1% in Q 2 06 Total Year on Year Category Growth shows an increase of 7. 3%, driven by OTC The Retail market has seen growth of 5. 6% Year on Year with retailer share at 5. 3% for Q 2 06 Copyright © 2005 Information Resources, Inc. Confidential and proprietary.

Total Category Size D y m m u D ta a Value Sales each Quarter, starting quarter 3, 2003. Bars are in £ 000 s. Copyright © 2005 Information Resources, Inc. Confidential and proprietary.

Dummy Data Total Category Size D y m m u D ta a Value Sales in the latest year, starting in the year beginning quarter 1, 2002. Copyright © 2005 Information Resources, Inc. Confidential and proprietary.

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

Dummy Data Category Seasonality: Quarter 3, 2005 Quarter 2, 2006 D y m m u D ta a B 2 C B 2 B Contribution of each quarter to total year sales. Based on latest rolling full year of data Copyright © 2005 Information Resources, Inc. Confidential and proprietary.

Dummy Data Category Segmentation Share Trends of Total Market D y m m u D ta a Store & Corporate contribution to total sales each quarter. Value sale shown in the table is in £ 000 s 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 ta a Total Market - Boots - Capital Incentives D y - Debenhams - Dixons Group Business Services m m - Experience More - Halfords u D - House of Fraser B 2 B Reward/Incentive E-commerce Flexible Benefits OTC Legislative Savings (inc. Xmas club) - Marriott Incentives - Red Letter Days plc - Sainsburys Savings (incl Xmas Club) Affinity Groups - The High Street Voucher - WH Smith - Next B 2 C E-commerce Insurance Replacement - Exhilaration This information is only available to the companies listed above Telephone: 01344 746000 Fax: 01344 746001 Copyright © 2005 Information Resources, Inc. Confidential and proprietary.

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

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

Dummy Data Member Share Trend D y m m u D ta a Your percent share of market sales for Store, Corporate and Total. Table shows your sales figures in £ 000 s. Copyright © 2005 Information Resources, Inc. Confidential and proprietary.

Dummy Data Member Sales Segmentation Compared to Total Market D y m m u D ta a Store and Corporate segmentation of your Total Sales. Table shows Total Market sales and your Total Sales in £ 000 s. Copyright © 2005 Information Resources, Inc. Confidential and proprietary.

Member Year On Year Category Growth D y m m u D ta a Year-On-Year Growth of your sales. Quarter versus same Quarter last year Copyright © 2005 Information Resources, Inc. Confidential and proprietary.

Member & the Detailed Market Sales - Breakdown by Sector The Market is defined as only the company’s who submit the detailed Breakdown. Chart shows the proportion of your sales in each breakdown, and how this compares to the Market D y m m u D ta a Corporate Sales Store Sales Detailed segmentation of your Total Sales. Table shows segmented Market sales and your Market share & Sales in £ 000 s. Figures are YTD. Copyright © 2005 Information Resources, Inc. Confidential and proprietary.

Year On Year Growth in Member & the Segmented Market D y m m u D ta a Your growth of the segment versus the growth in the segmented Market, against the same period last year. Copyright © 2005 Information Resources, Inc. Confidential and proprietary.

Year On Year Growth in Member & the Segmented Market without Member D y m m u D ta a Your growth of the segment versus the growth in the segmented Market, against the same period last year. Copyright © 2005 Information Resources, Inc. Confidential and proprietary.

Retail Market Breakdown ta a Within this report, there additional charts, based on a new market split, which only includes the companies who are also members of the British Retail Consortium (the “Retail Market”) The additional charts detail the proportion of your sales that split into Store & Corporate sales, and benchmarks this against the Retail Market. The Retail Market includes the following retailers: m m Argos Retail Boots Debenhams Dixons Group Business Services Halfords House of Fraser John Lewis Direct u D D y - Kingfisher - Marks & Spencer - Next - Sainsbury’s - Tesco - Thresher Group - WH Smith This information is only available to the companies listed above Telephone: 01344 746000 Fax: 01344 746001 Copyright © 2005 Information Resources, Inc. Confidential and proprietary.

Total ‘Retail Market’ Size D y m m u D ta a Value Sales each Quarter, starting quarter 3, 2002. Bars are in £ 000 s. Copyright © 2005 Information Resources, Inc. Confidential and proprietary.

Year On Year Growth of Total ‘Retail Market’, by Category Quarter This Year Vs Quarter Last Year D y m m u D ta a Year on Year percent change, based on Market Sales data Copyright © 2005 Information Resources, Inc. Confidential and proprietary.

Dummy Data Member Share of ‘Retail Market’ Sales D y m m u D ta a Your percent share of market sales for Store, Corporate and Total. Table shows ‘Retail Market’ sales figures in £ 000 s. Copyright © 2005 Information Resources, Inc. Confidential and proprietary.