The next European Treasurers' Peer Group meeting will take place on Thursday October 11th 2007 with start 9am at Hilton Zurich Airport, in meeting room 'La Place AB' on forth flour, with coffee/tea from 8am. A pre-meeting dinner will take place at 8pm on Wednesday 10th October in Kaufleuten Restaurant.

Please refer to the agenda and logistics details.

Contact Claire Skaptason for any questions and/or reservations.

The results from the agenda topic poll show that the majority of members agreed on three prefered subjects out of the seventeen originally listed:
1. Bank strategy and relationship management
2. Active vs passive hedging strategies
3. Capital structures

Magnus Lind has interviewed most members about these topics and selected session leaders. Please refer to the detailed agenda.

We look forward to a great meeting. If you have any questions before then please don’t hesitate to get back to Claire, or to Magnus and Kenneth who will be onsite.

Meetings to date:

No	Date / Location	Agenda	Presentations	Research
8	11 Oct 2007 Zurich	Bank Relationships and Strategy, Active and Passive Hedging, Capital Structures	Session 1 - Bank Strategy. Results from Peer Interviews Kimberly-Clark - Bank Evaluation Metrics Shell - eBAM Session 2 - Active and Passive Hedging. Results from Peer Interviews Stora Enso - Hedging Henkel - Currency Categorization for Active/Passive Management Session 3 - Capital Structure. Royal Ahold Q&A	Report
7	14 Mar 2007 Lisbon	Liquidity, FX-Risk & Organisation	NFS - Intro Session 1 - Liquidity ABB - Liquidity Mgt Lunch Discussion - Career Session 2 - FX-Risk OMX - Translation Risk SES Global - Translation Risk	Report Survey Treasury Recruitment News
6	11 Oct 2006 Amsterdam	Performance Measurements, In-House Bank	Session 1 NFS - Treasury Excellence Lunch Discussion NFS - Extending Treasury to Supply Chain Session 2 - IHB	Report Summary Survey
5	23 Mar 2006 Barcelona	Commercial Payments and Treasury Procedures	Session 1 - Payments NFS - Payment Factory Session 2 - Processes & Procedures Applera - SOX NFS - Best Practices	Report Summary Survey
4	26 Oct 2005 Copenhagen	Liquidity Plans and Risk Concepts	Session 1 - Liquidity Planning and Forecasting Unilever - Cashflow Forecasting Alcan - Cash Forecasting NFS - Liquidity Monitoring Session 2 - Risk, IAS39 P&G - Value-at-Risk (VaR) Kemira - Risk Mgt	Report Summary Survey
3	14 Apr 2005 Copenhagen	Creating and Spending Time to Add Value	Session 1 - Creating Time Henkel - Optimised Processes and Structure Shell - TWIST & SEPA NFS - Hedge Automation Session 2 - Spending STP Time Kemira - From Good to Great	Report Survey Comparative Risk vs WCM Comparative STP Goals Comparative STP Tools
2	14 Oct 2004 Rotterdam	Maximising the Cash "Value Chain"	Introduction Session 1 Ericsson - Restructuring Alcan - Cash Pooling, Alcan - Overview Session 2 Dynea - Cash Race Stora Enso - Customer Statements	Report Survey NFS Performance & Benchmarking Comparative Cash & Payments Comparative Mission & Metrics Comparative Profile 1 Comparative Profile 2
1	19-20 Mar 2004 Brussels	Cash, Centralisation & Control	Session 1 Unilever - More with Less Session 2 Session 3 GMAC	Report Survey