January 2006

Since September 2004, when The Oxford Princeton Programme announced its management buyout, the company has experienced many successes. We created five new courses, earned a new qualification in the UK government making it easier for our delegates to obtain visas to take our courses and added seven courses to our accredited course portfolio from the National Association of State Boards of Accountancy.

Looking forward, The Oxford Princeton Programme has exciting plans for 2006. In addition to our current global portfolio of instructor-led classroom and web-based courses we're developing some exciting new courses and expanding into new regions where our clients say they need us.

At the same time, we're staying aggressive in the marketplace, our cost competitiveness continues to improve and we're training our delegates with the latest information known in the industry.

To better serve our clients, The Oxford Princeton Programme plans to provide more customized on-sites, more competitive pricing and the ability to schedule on-sites more freely, giving our delegates the flexibility they need.

Also, in response to market demand, we plan to expand our power and gas course offerings, especially in North America, and extend all our offerings to new cities globally, including:

• Los Angeles, CA
• Chicago, IL
• Moscow
• Kansas City, MO
• Toronto, ON
• Calgary, AB
• Argentina

We continue to update and revise our courses as necessary with the most recent information known to the industry to provide our delegates with the best training experience.

With all this planned, we look forward to training you in 2006!

Best Regards,