These forward-looking statements reflect our beliefs or current expectations with respect to among other things, trends in the travel industry, our business and growth strategies,

use of technology, our ability to integrate acquired businesses, future actions, future performance or results of current and anticipated sales efforts, expenses, the outcome of contingencies such as legal proceedings, financial results and fluctuations in our results of operations.

Forward-looking statements involve certain risks and uncertainties that could cause actual results to differ materially from anticipated results. These risks and uncertainties are

set forth in Ambassadors Group most recent report filed with the Securities and Exchange Commission on Form 10-K, as it may be updated in our subsequent Form 10-Q and 8-K reports. All forward-looking statements are expressly qualified in their entirety by these factors and all related cautionary statements. We do not undertake any obligation to update any forward-looking statements.

With that I will hand the call over to Jeff.

Jeff Thomas

Thank you. Good morning. Thank you for joining our call this morning.

We are planning to follow our regular call outline, starting with a brief overview of the company results, and Peg Thomas, Ambassador Programs, will discuss our core People to People Student Ambassador Program’s results so far and Kristi Gravelle will discuss our financial results for the first quarter of 2010.

Jim and Susannah are on the call to field questions about their respective business units should the need arise. As most of you are aware, our company has seasonal revenues and our first quarter is our least important revenue quarter of the year. Q2, our current quarter will be the most important revenue quarter of 2010. In the first quarter we posted a loss of $0.35 per share compared to a loss of $0.28 per share in the same quarter one year ago. This was driven primarily by having fewer travelers this quarter than the same quarter one year ago, and the majority of the decline in the number of travelers is driven by the Presidential Inauguration program that we operated one year ago.

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