1. Company presentation by Per Norén Chief Executive Officer AGIFORS 2003, New York

2. About Carmen.... Revenue: 21 MUSD in 2002 Growth rate: 40% annually for 5 years under profit Employees: 170 Core competence: Resource optimization Headquarter in Sweden, subsidiaries and branch offices in Europe, North America, Latin America and Asia Selected IT company of the Year in Sweden 2002 General

3. Market More than 110,000 airline crew members are today planned with Carmens optimization software

4. The Carmen Group 7 countries ~170 employees Göteborg, Sweden HQ- Europe Stockholm. Sweden - Europe Copenhagen. Denmark - Europe Madrid - Europe Montreal - Canada Mexico - Latin America Miami, USA Singapore - ASIA The Carmen Group Global

5. Crew Pairing Northwest Airlines Philippine Airlines Singapore Airlines Wideroe Deutsche Bahn New business

6. Crew Rostering British Airways Finnair KLM Philippine Airlines SAS Deutsche Bahn New business

7. Other areas Roster Maintenance at Spanair & Philippine Airlines Integrated planning and Ops Control at Aeroméxico Manpower planning at SAS New business

8. Services Business Consulting –Simulations –Process re-engineering Outsourcing and production support –Crew pairings for Singapore Airlines –Crew pairings for Northwest New business

9. New aircraft types? Hire or fire crew? New route to Boston? Delay or cancel flight? How to rebook passengers? Products

10. Clients

11. Time Solution based on Rave IQ-Gap Increasing the Installation Quality Gap Protecting Business Benefit Business benefit Not possible to easily adjust the business logic Productio n taking

12. Come join us for a dinner ride in the New York harbour! Meet us in the lobby at 6 PM tomorrow

13. Come dance with Carmen – It takes two to tango!

14. www.carmensystems.com carmen@carmensystems.com