Hang Tran Thi Thu

15th June 2008

To: The Trustees
        Altimo Foundation

Re: INSEAD Altimo Scholarship for Emerging Markets

Dear Sirs/Madams,

I am writing to express my sincere gratitude for the generous Altimo Scholarship for Emerging Markets that you have granted me. I was thrilled to learn of my selection for this honor and I deeply appreciate for your support.

By awarding me the scholarship, you have lightened my financial burden and helped me to make my dream of studying at one of the top MBA schools come true.

Your generosity has inspired me to help others. I hope one day I will be able to help others to achieve their goals just as your foundation has helped me.

Thank you very much again for your generosity and support.

Yours faithfully,

Tran Thi Thu Hang