Greetings

A message from the Chairman of the Board of IGTA - François Masquelier

Dear Colleagues, Dear Friends, Dear Members,

After two years with Olivier Brissaud as Honorary Secretary of IGTA, it is now my turn to be in the driver seat. The seat is the same but the function has been renamed after the incorporation of IGTA in early 2006. Together with Olivier Brissaud as past Honorary Secretary and with Jim Kaitz, next Chairman of the Board, we intend to keep growing the association by welcoming new members. There are number of countries with an active Corporate Treasury Association, Olivier, Jim and me will try to convince other NTAs (National Treasury Associations) to join the newly incorporated International Group of Treasury Associations.

I wanted to share with you some of the subjects and ideas we will develop and work on in the next twelve months. Of course, my objectives are to prolong, to continue and to foster themes launched the last couple of years (e.g. international accounting standards harmonization and accounting for financial instruments, payment harmonization in Europe through projects like SEPA and new Directives, new Basel II capital adequacy rules, which could impact corporate treasurers too, approval of treasury, corporate finance and risk management programs (5 have already been approved by IGTA) and increased cooperation among NTAs to share ideas and plans to be more efficient.

All of you could count on my full dedication to keep the spirit leading us so far. I have decided to concentrate our limited men resources on specific and identified projects to make sure we will successfully reached our goals and achieved our targets.

Our website is a virtual but useful window on our current projects status and last press releases or meeting minutes.

The other major axis of our development will be to search for other NTAs ready to actively join IGTA. Olivier Brissaud will remain in charge of that project. We hope to accept new members in Dublin in fall 2006. I really count on your ideas and support to achieve as much as possible these ambitious objectives.

Thanks in advance for your support, your help and your dedication to our young association. We have simply reached the first milestones of a long road driving to a solid, solider and powerful group of treasurers, whom will better defend the profession.

Best regards
François Masquelier
Chairman of IGTA Board