We consider the travel and leisure sector in Russia and CIS to have great growth perspectives and are attractive for investments.

S-Group Travel Holding

S-Group Travel Holding GmbH is one of the major shareholders in TUI AG — the world leader in the travel and leisure sector — holding approximately 15 percent of the shares.

In September 2007, TUI AG merged its tourism activities — excluding its hotel business — with those of First Choice Holidays PLC, a British-based travel group, forming TUI Travel PLC. TUI AG holds 51% of the new entity, which is listed at the London Stock Exchange.

For more information on TUI AG please visit www.tui-group.com.

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