International Trade Bounces Back as Confidence Returns to Importers and Exporters

LONDON, August 9, 2010 - British importers and exporters' confidence in the economy leaped in
July, as positive economic data fuelled hopes for a return to strong economic
growth. The Travelex Confidence Index (TCI) jumped 12 points in July to 116,
from 104 in June. Analysts said the strong gains were driven by Quarter 2's
GDP figure, as it showed the UK grew at its fastest pace in four years.

Sentiment was also bolstered by David Cameron's overseas trade mission,
as nearly half of those interviewed (44%) expressed increased confidence in
the Coalition's trade policies, compared to 35% in March.

Paddy Earnshaw, Director of Customer Relations at Travelex Global
Business Payments commented, "July's sharper-than-expected increase in
confidence will help improve importer and exporter morale and allay concerns
about the medium to longer term growth outlook. It is particularly
encouraging to see the new Government's international trade efforts injecting
confidence into the UK's SME importers and exporters."

Despite their renewed confidence in the UK economy, Earnshaw believes it
is too early to say whether their optimism has been accurately placed, as
many uncertainties remain for British importers and exporters. "Even as the
UK recovery broadens, June's dip in confidence suggested businesses are
fearful of austerity measures and the impact they will have on consumer
buying power. I would expect confidence to remain volatile, as harsher fiscal
tightening approaches."

The deteriorating picture in the U.S. may also crimp confidence in the
upcoming months, as 84% of respondents are now feeling the threat to business
development comes from the current health of the global economy. The figures
underpin growing concerns in the financial markets that the U.S. recovery has
slowed and may lead to a double dip recession.

Despite the concerns over U.S. recovery, expectations for the U.K.
economy, international trading conditions and business development were all
on the up, according to Travelex Global Business Payments. Its Expectations
Index rose 9 points in July to 103.

Research for the Travelex Confidence Index was carried out between 12th
and 26th July.

To receive a copy of the July report of the Travelex Confidence Index,
email Jessica.buttress@travelex.com

Notes to editors

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About Travelex Global Business Payments

Travelex Global Business Payments is a global foreign exchange specialist
providing the payment and receipt of domestic and international funds for
businesses of all sizes. For more than 30 years, Travelex Global Business
Payments has provided clients with sophisticated market knowledge, leading
edge technologies and practical and innovative solutions tailored to
individual requirements. Every year, Travelex Global Business Payments
processes payments around the world over 35,000 businesses to 1 million
beneficiaries

The Travelex Confidence Index (TCI), released monthly by Travelex Global
Business Payments, provides commentators with a key indicator on
international trade and economic conditions. Conducted by independent
research company TNS-RI, the Travelex Confidence Index tracks the views and
sentiments of the UK's SME importers and exporters across industry sectors
and UK regions. The TCI is the only piece of research available that
regularly tracks the UK's SME importers and exporters. Visit
www.travelexbusiness.com/confidence-index

    Media enquiries

    Jessica Buttress
    Head of PR for Travelex Global Business Payments UK
    +44(0)208-415-4204
    Jessica.buttress@travelex.com

Media enquiries: Jessica Buttress, Head of PR for Travelex Global Business Payments UK, +44(0)208-415-4204, +44(0)77954-497129, Jessica.buttress at travelex.com