Message from CEO

Welcome to our final newsletter for 2008. It has been a year of strong growth for our industry but many uncertainties lie ahead as economic growth slows worldwide. There remain some positive signs for the industry as MPG (part of Havas) has just started a new out-of-home division, Chrysalis, so all the major agencies are now participating in the space. ABI Research have reduced their growth forecasts for the industry to 17% p.a. -- but this still remains miles ahead of most other media.

However, people are understandably cautious. We are putting a great deal of effort in ensuring we support our clients and help them to continue to grow, even in a recessionary environment. To this end we have launched our Digital Merchandising Guide, a document that takes a practical view on increasing sales in store. We are also launching our new technology platform -- EnQii EnGage -- which is a complete redesign of our system and built to help increase revenues and reduce costs. We will start to present this over the next several weeks. All this, together with our rental model and strong backing, will make us a good partner over the coming years and we are very pleased to highlight some of the work we have done with Airport Express in Hong Kong and the Private Newsstand Network in the US.

We are also delighted to close a fundraising round, which brought an additional $18m into our company from some of Europe's strongest investors. This will allow us to continue to support our clients worldwide and build the strongest technology and communications platform to let you run your out-of-home communications business effectively. It also means we will be around for many years -- allowing us to invest along with you in the success of your networks.

We wish our clients and partners a great holiday season. And don't forget to visit our website at www.enqii.com and let us know what you think! Please email me your questions, comments or suggestions on what you would like to see in forthcoming editions of this newsletter.

Best Regards,

Ajay Chowdhury

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