Powerpoint for Eye For Travel's conference Travel Distribution China August 29-30, 2007. Presentation compares China travel consolidators Ctrip and eLong

1. AUGUST 2007 China Travel Overview WILLIAM BAO BEAN SOFTBANK CHINA & INDIA HOLDINGS

2. China travel market and consolidator bookings Source: CEIC, SBCI, Ctrip, eLong

3. Consolidator quarterly hotel commissions Source: SBCI, Company reports

4. Consolidator hotel room night market share Source: SBCI, Company reports

5. Consolidator hotel room night market share Source: SBCI, Company reports

6. Consolidator online reach per million Source: Alexa

7. Consolidator metrics – customers Source: SBCI, Company reports

8. Consolidator metrics – customer additions Source: SBCI, Company reports

9. Consolidator metrics – customers from top cities Source: SBCI, Company reports

10. Consolidator metrics – hotel partners Source: SBCI, Company reports

11. Consolidator metrics – guaranteed allotment hotels Source: SBCI, Company reports

12. Consolidator metrics – % hotel bookings from guaranteed allotment hotels Source: SBCI, Company reports

13. Consolidator metrics – commission level paid by hotels Source: SBCI, Company reports

14. Consolidator metrics – commission level paid by airlines Source: SBCI, Company reports

15. Consolidator metrics – eTickets as a % of total Source: SBCI, Company reports

16. Consolidator metrics - package sales Source: SBCI, Company reports

18. Thank You! William Bao Bean Partner [email_address] +852 9131 0218 +86 139 1789 8171