Travelex today announces that Ian Meakins is to succeed Clive Kahn as Chief Executive Officer.

Ian Meakins was Chief Executive Officer of Alliance UniChem plc until its merger with Boots in July 2006 and he was previously President, European Major Markets and Global Supply for Diageo plc. He has served as a non-executive director of a number of companies including MMO2 plc, and he will continue in his role as non-executive Chairman of Trader Media Group. He will join the Board of Travelex and take up his new position on 3 January 2007.

Ian Meakins said:

"I am delighted to be joining Travelex. It is a great company with an excellent track record and strong positions in each of its core businesses, and it has huge growth potential."

Lloyd Dorfman, Chairman of Travelex said:

"We are delighted to have attracted Ian Meakins to Travelex. Ian brings with him a wealth of experience of managing retail and wholesale operations on an international scale and his skills are complementary to the group's focus on retail and outsourcing operations. I am confident that Ian will provide the leadership required to ensure that the group continues to capitalise on the significant opportunities for growth that are available in our chosen markets."

"Clive Kahn has decided to leave Travelex after 22 years with the group. I would like to take this opportunity to thank Clive for the enormous contribution he has made to Travelex since the earliest days of its development. He has done a tremendous job in managing the group through the transition period whilst we found a new CEO. On behalf of the Board I would like to thank him for his dedication to the group over many years and we wish him every success for the future."

Press enquiries:
John Antcliffe, Smithfield
+44 (0) 207 903 0665

Investor enquiries:
John Martin, CFO Travelex
+44 (0) 207 400 4000