International Property Consultants
Established 1773
Berkeley Square House
London W1X 6AN
Richard Ellis
Mr N Ockram
Cost Reduction Analysts
62 Newton Lea
Glasgow G77 5QF

30 January 1998

Dear Neville

STATIONERY AND PRINTING SAVINGS

Just a brief note to thank you for the work done on our behalf during 1997. I must say that when I started working with you, I had some reservations as to how any substantial or worthwhile savings were to be achieved. However, the results of your work were most satisfactory and we have made very acceptable savings on our printing and stationery costs.

Furthermore, your exercise was carried out with minimum disruption to any of our staff and did not interfere in any way with our regular day to day work.

I would be happy to recommend your organisation to any prospective client that you may have, as I find your philosophy of only charging fees for actual savings achieved to be most attractive.

Yours sincerely

Michael Pearson
Ian Harvey

Financial Director

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Pannel Kerr Forster

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Allen & Overy

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