Following my previous announcement, I am very pleased to confirm that Swan Hellenic will be returning to river cruising in 2009.

Having reviewed river operations we have found a partner, A-ROSA, with whom we are confident of delivering a memorable Swan Hellenic travel experience. Being well acquainted with A-ROSA (their river cruise vessels were originally built when A-ROSA was part of the P&O Princess group of companies), I am confident that both the accommodation - elegant, spacious cabins, many of which have balconies - and A-ROSA's high standards of food and service will appeal to Swan Hellenic passengers.

With a maximum number of 200 passengers on board you will once again be able to cruise the waterways of Europe in both comfort and style. Itineraries include cruises along the Danube, embarking and disembarking in Vienna to visit cities such as Budapest, Melk, Linz and Passau, and cruises along the Rhône and Saône, embarking and disembarking in Lyon to discover historic cities such as Mâcon, Chalon-sur-Saône, Avignon and Arles. A Swan guest speaker will accompany each cruise, their knowledge and insights enhancing your cruise through the heart of Europe. One particular highlight will be spending Christmas Day in Vienna and New Year's Eve and New Year's Day in Budapest - the first time in several years that we have been able
to offer a Christmas cruise to just 200 passengers.

We look forward to welcoming you on board in 2009.

Lord Sterling,

Chairman