Our target customers are effectively every business and governmental entity around the world as well as we're targeting all of the major oil companies both in United States and around the world as well. We're a global company. We're well diversified. We're actually in 21 countries today and have 17 or so offices around the world. But our offices or our business is primarily in five geographies. We're in the United States, we're in the UK, we're in the Czech Republic, we're Russia, we have a business in Mexico that we acquired last year, I guess we're in six now, we're going to be six. A week or so ago we announced that we are in the process of acquiring a company in Brazil, so we'll be into Latin America kind of market as well.

Our company has a tremendous track record of growth. If I go back and look at over the last kind of seven or eight years, we've grown our revenue at a compounded annual growth rate from 2003 to 2011 at about 28% and more impressively we've grown our cash net income over that same period of time at a compounded annual growth rate of about 41% and in doing so we used a three plank growth strategy. We build the businesses that we own, we buy a new attractive penetrated geographies and we partner with new major oil companies as an example, United States, for those of you who don't know, we process commercial cards on behalf of Chevron, BP, Arco, Citgo and more recently we have signed an agreement to process transactions on behalf of Euroshell. So it's our first kind of entry into the European market from a private label and partnering perspective.

Just to kind of add a couple of other things, why do you want to invest in FleetCor. We own and operate in 10 proprietary merchant networks around the world. We're a difficult business to get into too. We spend 10 or 20 years kind of signing up merchant networks around the world, kind of one network at a time. We've developed a very specialized processing platform and we believe we have the state of the art system around the world. As an example that platform enabled us to win the Euroshell business which is the largest major oil company in the world. They do business in 35 different countries today. We have broad distribution capabilities. We market our products in a number of different ways. We have direct sales force on the street. We use the web. We use direct mail. We use telemarketing and we market our product via other partners as well. As a matter of fact, we had a record sales year in 2011. And we have strong relationships. I mean we built customer relationships over that same kind of 10 or 20 years period of time. We have relatively low attrition rates and we're able to grow our business efficiently by using our broad distribution network and offset the amount of attrition that we have and effectively grow our business.

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