In Latin America

• BCD Travel in Argentina, a 100% interest in City Service Travel Agency;
• BCD Travel in Mexico, a 100% interest in Humboldt Tours and Turismo Humboldt;
• BCD TraveI in Chile, a 50/50% joint venture with Cocha Travel, the country’s leading business travel management company;
• BCD Travel in Peru, a majority interest in Travelcorp;
• Noro Bank, off shore banking on Curacao, Netherlands Antilles.